Shoppers spent a record $30 billion on Alibaba for Singles Day this year

Never underestimate the power of single people buying themselves stuff. 

Chinese e-commerce giant Alibaba reported its highest individual sales day ever on Singles Day, an informal holiday dedicated to people who aren’t in relationships. 

Singles Day is on 11/11 (see all those “1”s? they symbolize being alone) and has become in recent years a bigger Chinese shopping day than Black Friday or Cyber Monday. Alibaba was a pioneer in offering discounts on the holiday, and their sales are promoted with a live TV show advertising the discounts available on the website.  Read more…

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