Chinese ecommerce retailer Alibaba sold a record $9.3bn worth of goods in a single day yesterday. That single day, was Singles’ Day!
Never heard of Singles’ Day? You’re obviously not doing business in China (or if you are you won’t be for much longer!)
Singles’ Day is China’s answer to Valentine’s Day, celebrated every year on 11/11 (so chosen because of the ones, representing single people). It might be more correct to say that it’s China’s answer to Black Friday and Cyber Monday: in recent years it has become a huge occasion for online gift buying.
The sales bonanza comes just eight weeks after the company was listed on the New York Stock Exchange, valued at $25 billion.