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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

Published Mon, Nov 9, 2015 · 09:50 PM
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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 celebrated on Nov 11 because the date -11/11 - is reminiscent of "bare branches", the Chinese expression for bachelors and spinsters.

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