Economy

On China's Singles Day

On China's Singles Day”

And we know that some of the world's best retailers will be offering deals up to 30% off.

. The date - 11/11 - was chosen because of the significance of the number "1", symbolic of solitude.

As the clock ticks to midnight, the regular Ali, Ah Chong and Muthu will be scrambling to click on the button of that famous online shopping boutique for the planet's biggest online shopping fest, Alibaba's "11.11 Singles" Day'.

Well, China has just such a day, and it's become a gargantuan phenomenon.

The massive, promotion-driven shopping event in China that drives the biggest one-day online sales in the world, is not the natural setting for high-end luxury brands - so e-commerce marketplace Alibaba made a place for them.

The annual retail extravaganza has become a major event with Alibaba hosting a gala that past year featured David and Victoria Beckham and Kobe Bryant. Sales online in China have exceeded the two biggest shopping days in the USA combined - Black Friday and Cyber Monday.

Alibaba Day, known as the "11.11 Global Shopping Festival", is the largest e-commerce day in the world, driven by the main Alibaba platform, Tmall.



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