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Singles' Day in China bigger than Cyber Monday

Analysts expect sales to surge to a new record after last year's 57.1b yuan within 24 hours

Jack Ma.jpg
Jack Ma, Executive Chairman of Alibaba Group, speaks at the WSJD Live conference in Laguna Beach, California, in this Oct 27, 2014 file picture.

Shanghai

SINGLES' Day, a twist on Valentine's Day, started in China in the 1990s as an obscure holiday but has snowballed into a consumer phenomenon, thanks largely to Alibaba Group Holding Ltd, founded by Jack Ma and which runs China's largest online marketplace.

Singles' Day is

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