Alibaba Reports Its Singles' Day Sale Exceeds $8 Billion

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In anyone's book, that a massive amount of money, and in a single day!

E-commerce giant Alibaba's Singles' Day sales broke through the $8 billion mark late on Tuesday, illustrating the buying power of the Chinese consumer and the importance of the event in the retail calendar.

The live sales figure on Alibaba Group Holding Ltd's (BABA.N) giant screen at its sprawling Hangzhou campus surged past 2013's record high to the 50 billion yuan ($8.16 billion) mark with almost three hours left on the clock as Chinese and overseas shoppers bought heavily discounted online goods.Alibaba Reports Its Singles' Day Sale Exceeds $8 Billion [reuters.com]

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Making it rain on 11.11 ;)

I wonder if any other online retailers have made that much in a single day.