Alibaba and the 'Singles' Day'

How celebrating singlehood made China’s Alibaba create the world's biggest online retail event.

Online shopping sales are expected to reach record levels on November 11, this year, as Chinese consumers are expected to flock to what are now known as 'Singles' Day' discounts.

It all began as a celebratory day in the '90s (reportedly as an Anti-Valentine's Day). This day was primarily observed by single folks, or 'bare sticks', symbolised by the four number '1' in the date of 11th November i.e. 11/11. From 2009, the online retail firm Alibaba piggybacks on this day to promote a big online shopping sale. The date was said to be well placed in a consumer spending lull between two important holidays.

And that proved to be quite a big idea for the e-tailer. Singles' Day became a massive success turning what was termed a 'random Chinese holiday' into its biggest shopping spectacle. Competitors too cashed in, leading to Alibaba eventually copyrighting the term 'Double 11'.

Last year, in November, the sales were at an eye-popping $14.3 billion, outstripping the nearest equivalents in the US, the post-Thanksgiving shopping splurges on 'Cyber Monday', and 'Black Friday.'

Today, Alibaba's Singles' Day sale has become a phenomenon that is part of the national conversation in China, and is said to have turned China’s retail ecosystem upside down.

Source :http://www.forbes.com/sites/franklavin/2016/11/06/alibabas-singles-day-what-we-know-about-the-worlds-biggest-shopping-event/#60dfe02f374a