China’s Singles’ Day sales climb 4.8% to $267bn amid AI boom
Singles’ Day sales in China rose 4.8% to $267 billion, driven by e-commerce platforms expanding AI and chatbot use, despite slower growth than last year.
China's Singles' Day sales climbed 4.8% to $267 billion in 2023, driven by increased adoption of artificial intelligence and chatbot technologies by e-commerce platforms, according to market research firm Syntun. Despite slower growth compared to last year's 14.2% increase, the event saw significant growth in AI-related product sales, with JD.com selling over 50 million AI products and Alibaba reporting a surge in searches for "token" and a tenfold increase in sales of related packages.
The slower growth was attributed to factors such as weak consumer confidence, a weakening property market, and concerns over job security.
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