The record was reportedly fuelled by "revenge spending" as Chinese consumers who would usually have splashed out on high fashion in London and Milan spent online instead due to the pandemic.
The online platforms, who all offer generous discounts, opened the event early on November 1 this year in the hope of making the most of the rush.
But Alibaba shared plunged by 8% - along with those of fellow Chinese e-commerce giant shares - as China's authorities set out proposals to tackle monopolies in the sector.
