in the first nine hours of its annual Singles' Day shopping extravaganza on Monday , setting records as the event celebrates its 11th year.
The firm's competitors include longtime rival JD.com, which sources goods and sells them directly to consumers, and four-year-old Pinduoduo Inc that managed to break into the top ranks by courting China's rural residents with deep discounts and a group-buying model.There are also a range of other e-commerce sites that focus on different market segments, such as cosmetics, groceries and home appliances.
Many couriers are also part of the Cainiao Smart Logistics Network, majority owned by Alibaba which co-founded it in 2013. Cainiao provides software to and shares data with warehouses, couriers and logistics firms.
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