Chart: The singular rise of Singles' Day sales on Alibaba
Singles’ Day is a holiday in China held every year on Nov. 11 to encourage people not in relationships to embrace a single lifestyle.
Alibaba Group Holding Ltd. in 2009 turned it into an online shopping holiday, similar to Cyber Monday (the Monday after Thanksgiving) in the U.S. Since then, it has grown into something of a cultural phenomenon in China that generates more online sales than Cyber Monday and Black Friday combined. This year, gross merchandise value crossed $25 billion on Alibaba’s marketplaces alone.
The chart below shows gross sales on Alibaba’s marketplaces on Singles’ Day each year between 2009-17. To get immediate access to the rest of this article and thousands more, sign up for a free Strategy Membership using the Join for Free button below. If you’re a member, sign in.
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