Why China's Singles Day Won't Become an American Shopping Holiday

Vendors prepare discounted stock ahead of Single's Day, in Wenzhou, China, on Nov. 5, 2014 Photograph by ChinaFotoPress

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.

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