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Online retail behemoth Alibaba smashes sales records as consumers buy into 'Singles Day'

Chinese retailer Alibaba has smashed sales records as consumers flock to the online platform for "Singles Day".

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The event eclipses Black Friday and Cyber Monday in the United States. Source: 1 NEWS

The event, which eclipses Black Friday and Cyber Monday in the US, made more than $109 billion over an 11-day period.

Singles Day came about as an alternative to Valentine's Day but has become increasingly popular with retailers in China.

The event has proven to be a big success for Kiwi pet food business "Ziwi" too. Sales are up 300 per cent compared to last year.