Why China's Singles Day Won't Become an American Shopping HolidayBy
China’s bachelors and bachelorettes are spending Tuesday with Alibaba. Nov. 11 is known in China as Singles Day, an annual event for which online retailers slash prices, and China’s eligible shoppers treat themselves to discounted goodies. Popularized by Alibaba in 2009, Singles Day has become wildly popular. Alibaba watchers have speculated that the company will easily top last year’s record $5.7 billion (35 billion yuan) in sales.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.