Retail

Alibaba, JD.com handle record $136.51 billion in sales during 618 event

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People walk by JD.com advertisements of the 618 Shopping Festival at Wangfujing Street on June 14, 2020 in Beijing, China

VCG | Getty Images

China’s two biggest e-commerce giants Alibaba and JD.com handled $136.51 billion of sales through their platforms during one of the country’s biggest shopping events.

Known as 618 because it falls on June 18, the festival was being closely watched for signs about the health of the consumer in the world’s second-largest economy, as it looks to recover from the coronavirus pandemic. 

JD.com said transaction volume totaled 269.2 billion yuan ($37.99 billion). This figure is the total value of all orders for products and services placed on the…



Source cnbc.com

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