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China's e-commerce giant Alibaba Group sold Sunday more than 168 billion yuan (24 billion 150 million dollars) in less than fourteen hours "Singles day", which beats a record from the previous year.
The Singles day, also known as "Double 11", is the largest online sales event in the world, even better than "Black Friday" the United States.
The Chinese event was originally a student party celebrating uniqueness, unlike the Valentine's Daybut it evolved into a one-month shopping festival that reached its peak in 24 hours on November 11th.
A disproportionate amount of sales is concentrated in the first minutes, when the transactions that have been put on hold are recorded.
The company sold about 69 billion yuan (9 million $ 920 million) during the first hour of the Singles Day, an increase of about 21% over the previous year.
Items sold include smart phones and other electronics, but also foods and diapers.
Although the company surpassed last year's sales just before 4 pm local time, the record was longer to make than in 2017, when it was reached at noon.
Analysts say that despite strong growth, sales should be affected by economic difficulties and competition from new sales events.
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