What is Singles Day?
Cyber Monday 2015 was the single largest online shopping event of the U.S fiscal year, generating over $3 billion USD in sales. It was also the most successful Cyber Monday in the day’s history. And yet, every year, Cyber Monday’s sales are overshadowed by Singles Day.
Singles Day, which originated in China as a way for people to celebrate being “single”, takes place on November 11 and has since become the largest online shopping day in the world. Hosted by Alibaba Group Holding Ltd, Singles Day hosts steep discounts across many stores and online businesses. In sharp contrast to Cyber Monday, Singles Day resulted in $1 billion worth of sales within the first hour November 11, 2016. By the end of the day, Singles Day had earned a total $14 Billion USD.