Singles' Day is an entertaining festival widespread among young Chinese people, to celebrate the fact that they are proud of being single. The date, November 11th(11/11), is chosen because the number "1" looks like the bare stick, which is the phonogram for someone who is single in Chinese. This festival has gradually become one of the largest online shopping days in the world, with sales in Alibaba's sites Tmall and Taobao at US$5.8 billion in 2013, US$9.3 billion in 2014, and over US$14.3 billion in 2015.
Singles Day is a creation of Chinese online retailer Alibaba, which six years ago took an obscure Valentine's Day-like holiday that began in the 1990s and turned it into an excuse to go shopping for oneself. In its English materials, the company brands the event as a Global Shopping Festival.
Alibaba did a record $14.3 billion in sales on Singles Day , breaking last year's record and blowing past its estimates of $11 billion in sales. It is the biggest online sales day in history. Mobile sales made up the bulk of orders — 69%.
Sales in China in this one 24-hour period are expected to be larger than the Black Friday weekend and Cyber Monday combined.
Alibaba represents serious global competition for Amazon. “Jack Ma, Amazon CEO has a mission in life, which is to become the first truly global e-commerce destination. The company is opening platforms in India and South America. In Russia, its AliExpress is the No. 1 e-commerce platform,” Zakkour said.
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