Alibaba's shopping holiday that's bigger than Black Friday and Cyber Monday combined just brought in $25 billion - this is what it looked like
REUTERS/Aly Song
Ever since its early days as a student event in the 1990s, November 11 was called "Singles' Day" in some parts of China; an occasion during which individuals would try and find a partner.
Now, Alibaba has dubbed it "Double 11" - a term the company has trademarked and transformed into the world's largest shopping event. During this year's Double 11, taking place on November 11, 2017, Alibaba sold $25.3 billion worth of merchandise.
Created in 2009 as an "Anti-Valentine's Day," the "11-11 Global Shopping Festival" is now bigger than Black Friday and Cyber Monday, combined.
Encompassing a live-broadcast gala, virtual games, and an interactive fashion show, the 24-hour event has become a global extravaganza selling everything from American sneakers to South Korean washing machines and Argentinian shrimp.
Keep reading to see how this year's event unfolded ...
Get the latest Alibaba stock price here.
- I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- 8 Lesser-known places to visit near Nainital
- World Liver Day 2024: 10 Foods that are necessary for a healthy liver
- Essential tips for effortlessly renewing your bike insurance policy in 2024
- Indian Railways to break record with 9,111 trips to meet travel demand this summer, nearly 3,000 more than in 2023
- India's exports to China, UAE, Russia, Singapore rose in 2023-24