Online retail sites Taobao and Tmall recorded a total transaction value of US$4.89 billion (RMB30 billion) by 9:20 pm on Monday, smashing last year’s record of RMB19.1 billion, South China Morning Post reported, citing the statement from Alibaba Group, which owns the two shopping platforms. November 11, widely referred to as “double eleven” in China, is a day attributed to and celebrated by single people due to the shape of the Arabic numerals “11/11”. The Tmall site began marketing the day as its biggest sales event in 2009. The platforms boosted sales this year by offering major discounts on products.
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