In China, 11th November marks “Singles Day” – a celebration for single people that has turned into the world’s biggest online shopping event. Also known as “Double 11”, because of the date, Singles Day has become synonymous with huge online discounts, and consequently, huge online spending.
In the first 13 hours of selling on Sunday, the 50,000-plus merchants on Alibaba’s consumer-oriented Tmall.com took in $1.6 billion, the company announced on its microblog account.
That would top the total of $1.3 billion that research firm comScore said U.S. online retailers took in last year on Cyber Monday and might make Singles Day the biggest e-commerce sales day on record.
“This is very, very big for us,” Steve Wang, vice president of Tmall.com and head of website operations, said in a phone interview. The company said on its website that Sunday might be the “biggest e-shopping orgy ever.”