Alibaba Group Holding logged $30.7 billion in sales for its annual Singles' Day extravaganza, setting a record as shoppers swarmed the e-commerce giant's online bazaars.
China's largest company, which used a televised entertainment spectacle featuring Cirque du Soleil and Mariah Carey to further drum up business, reported that Xiaomi Corp., Apple Inc. and Dyson Ltd. products were the top three brands in early sales. The final sales figure in Chinese yuan was about 27 percent higher than last year's.
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. This year's Nov. 11 gala offers a glimpse of consumer sentiment in China as U.S. tensions and a tit-for-tat tariff war depress stock markets and threaten to dampen the world's No. 2 economy.