Alibaba Group Holding Ltd.'s Singles Day shopping festival registered a record $38.4 billion in sales Monday.
The e-commerce giant saw 10 billion yuan ($1.43 billion) in sales over the first 90 seconds of the event. That happened even amidst sluggish economic growth in China. Total Singles Day sales touched $38.379 billion in gross merchandise value this year, surpassing last year's 24-hour total of $30.8 billion.
This year’s sales growth of 26% was faster compared to last year's 21%. More than half a billion shoppers placed more than 812 million orders with Alibaba in the bonanza.