• Single's Day: China's $25 billion shopping festival explained

    8 days ago - By Tech Crunch

    This Sunday is November 11, an auspicious date within the Chinese tech community because it marks Single's Day, the world's largest online shopping day. This year is particularly poignant since it will be the tenth edition of the annual event - also known as Double Eleven - since it was created by Alibaba, the Chinese e-commerce giant.
    Single's Day is huge business today. Alibaba sold more than $25 billion in goods last year as 11.11 moved outside of China into other regions within Asia and beyond. The company has consistently grown its sales tally year-on-year, so it's fair to expect $35...
    Read more ...

     

  • The world's biggest shopping holiday is this month-and it's not Black Friday

    The world's biggest shopping holiday is this month-and it's not Black Friday

    8 days ago - By Fast Company

    China's Singles' Day dwarfs Black Friday and Cyber Monday combined.
    We're talking about Singles' Day, which takes place this Sunday, November 11. Singles' Day is (also known as “Double 11” because it takes place on November 11, or 11/11 every year) is a Chinese holiday that began in 1993 and celebrates the pride in being alone, or single. Matter of fact, the reason Singles' Day falls on November 11 every year is because of the number “1” represents a single person.
    Read more ...