Singles' Day

Online players like Nykaa, Tata Cliq have also offered discounts on the back of Singles' Day Sale

BEIJING/SHANGHAI (Reuters) - Alibaba <9988.HK> and JD.com said the United States was the top seller of goods to China during the Singles' Day shopping extravaganza that generated about $116 billion in merchandise volume for the pair.

Chinese consumers spent over $100 billion during this year's Singles' Day shopping festival, signalling a rebound in consumption as China recovers from the coronavirus pandemic

The world's biggest sales event - eclipsing Black Friday and Cyber Monday in the United States - spanned four main days this year

Launched in 2009, Singles' Day has become China's version of US online sale event Cyber Monday

Singles' Day is a gauge of Chinese consumer sentiment and also a shop window for Alibaba as it plans sale of $15 bn worth of shares.

Within the first two hours, the total GMV exceeded $17.24 billion, surpassing the total GMV of 2016 11.11

The annual retail celebration, originally dedicated to the nation's unattached, has become an important bellwether not just for the company, but also the country

Singles' Day has ballooned into world's biggest shopping phenomenon, generating $25.3 billion in sales last year