It was a record-breaking Singles Day for Alibaba. The Chinese e-commerce giant made $38 billion in sales during the 24-hour hour shopping holiday.
The day got off to a strong start for Alibaba. GMV hit $12.01 billion in the first hour. Within an hour and a half, Alibaba's sales exceeded the total reached on Singles Day in 2016.
Some of the top-selling products early in the day included the 5G version of Huawei's Mate 30 Pro smartphone, as well asAmid the ongoing U.S.-China trade war, there was some concern that American brands could get the cold shoulder from Chinese consumers. But this was not the case.Jacob Cooke, CEO of WPIC, an e-commerce tech and marketing firm that helps foreign brands sell in China, told CNBC that jewelry and apparel were the most popular product categories from American retailers.
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