China’s largest e-commerce platforms have smashed records again in this year’s Singles’ Day.

Alibaba achieved a new record high of RMB 213.5 billion ($30.8 billion) gross merchandise volume, 27% up over last year while JD.com recorded RMB 159.8 billion ($23 billion) sales over 11 days from Nov. 1 to 11, 26% up from the same period last year.

While Singles’ Day has acted as an accelerator of China’s retail development in the past decade, making the country a more vibrant place to buy and sell, this year’s event saw slowing growth in overall e-commerce sales in China.

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Deborah Weinswig

Deborah Weinswig is CEO and Founder of Coresight Research, a research and advisory firm that provides future-focused analysis and consulting on the intersection of retail, technology, and fashion. Deborah...