Now entering its second decade, the Alibaba-invented November 11 11.11 e-commerce 'holiday', aka Singles Day, needs no real introduction. The one-day, Black Friday-style online shopping frenzy is reliably one of the largest retail events of the year. In 2018, the event saw total Gross Merchandise Volume GMV settled through Alibaba’s payment method, Alipay, reach 213.5 billion RMB US$30.8 billion, a rise of nearly 30 percent over 2017.
According to Alibaba figures, more than...
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