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Singles Day

Singles' Day—so named because the date Nov. 11 has four singles (11/11)—was started as an in-joke among university students in China. In recognition of the day, young singles organized parties and Karaoke to meet new friends or find someone special. The holiday moved away from its bachelor roots in 2009 when young people started to buy millions of dollars worth of products online. Spurred by Alibaba and its network of online retailers, Singles' Day eventually morphed into China's equivalent of the U.S Black Friday in which shoppers go on a day of shopping spree. During the 2013 Singles Day, Alibaba generated $5.7 billion in sales, some five times of the total online sales of all U.S. websites combined. During the 2014 Singles Day, Alibaba recorded its first $1 billion in sales in just 17 minutes—it took about an hour in 2013. After about the same amount of time 2014, Alibaba touched $2 billion in gross merchandise volume.

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  • Category: Festivals
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