Alibaba’s Early Discounts Help Drive Record Sales on November 11
Each year on November 11, millions across China and beyond celebrate Singles Day, a tradition that began as an anti-Valentine’s Day celebration by young singles. Originally a lighthearted holiday, it has since evolved into the world’s largest shopping event.
While Singles Day typically lasts 24 hours, in 2020, Chinese e-commerce giant Alibaba extended the sales period from November 1 through November 11. During this stretch, the company generated a staggering $71.4 billion (£52.6bn) in sales, showcasing the massive global impact of the shopping phenomenon.
