Alibaba nets $ 9.3 billion in sales on "Singles' Day"

China's online retail giant Alibaba has reportedly revealed that it has netted $ 9.3 billion in sales from its annual Singles' Day shopping event.

The firm said that the sales had climbed to ¥ 57.1 billion, and it had shipped 278 million orders by the end of Tuesday, reported the BBC. Alibaba had recorded sales of $ 5.75 billion and shipped 150 million packages last year on Singles' Day which is the world's biggest online retail sales day.

Alibaba Group's executive vice chairman, Joe Tsai, said that the soaring numbers signified the consumption power of the Chinese consumer. He added that the company is witnessing history.