Russia Today - November 11, 2014
Singles’ Day, adapted by the Alibaba Group in 2009, has surpassed
America's Black Friday to become the world's most lucrative online
shopping day. With nearly $9 billion in sales, it is on track to
becoming the most profitable manufactured holiday ever.
Singles' Day, a celebration for unmarried people in China, is a
twist on the long-running tradition of Valentine’s Day. It was
invented by students in the early 1990s. The date of Singles'
Day, 11/11, is due to the association that single people have
with the number one.
The holiday was adapted by the Alibaba Group in 2009. In just
four years, sales have rocketed by 5,740 percent.
As of 10 p.m. local time in Hangzhou China, sales had already hit
$8.6 billion – up from $5.75 billion in 2013.
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