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Alibabas Singles Day sales top $74 billion, up 26% – MarketWatch

Alibaba Group Holding Ltd.

said late Wednesday that its Singles Day sales event generated $74.1 billion in gross merchandise volume during its 11-day stretch, up 26% from last year’s promotion, which is centered around Singles Day in China, marked on Nov. 11. Alibaba’s platform handled 583,000 orders per second during peak activity, the company said. Some 250,000 brands participated this year, of which 31,000 were overseas brands, Alibaba said. Its artificial-intelligence chat bots handled more than 2.1 billion queries during the 11-day period, the company said. The U.S. was the top country selling to China by gross merchandise volume, it said. American depositary receipts of Alibaba rose 0.4% in the extended session Wednesday after ending the regular trading day down 0.3%.

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