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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
Tuesday, November 10, 2015 - 05:50
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