Nike, Old Navy, J.Crew, and others are launching sales to counter China's biggest shopping holiday of the year
- Alibaba just wrapped up its massive, 24-hour shopping event Singles Day on Monday, earning more than $38.3 billion in total and soaring past comparable US shopping events like Amazon Prime Day, Black Friday, and Cyber Monday.
- Other companies are launching deals that appear to be capitalizing on China's biggest shopping holiday of the year.
- Nike, J.Crew, Coach, Uniqlo, Old Navy, and others all launched sales on Monday - or 11/11 - that seem to be referencing Alibaba's big shopping event.
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Chinese e-commerce giant Alibaba just wrapped up Singles Day, and it was bigger than ever. The massive global shopping event kicked off on Monday in China and racked up $13 billion in sales in the first hour and more than $38.3 billion in total.
This total surpassed Amazon's estimated sales during its own shopping holiday, Prime Day, in July. Though Amazon doesn't disclose its Prime Day sales, Internet Retailer estimated that Amazon raked in $7.16 billion globally during the 48-hour period between July 15 and July 16.
Singles Day happens every year on November 11, or 11/11.
Retailers like Nike, J. Crew, Coach, Uniqlo, Old Navy all announced deals on Monday, which also happens to be Veterans Day in the US.
Though some of the sales are specifically labeled as Singles Day sales, others just allude to the date and seem like a calculated effort to capitalize on one of the largest shopping events in the world.
In July, retailers like eBay, Target, and Walmart announced deals to compete with Amazon on the e-commerce giant's Prime Day, which lasted two full days this year.
From 50% off sales items at J.Crew to 50% off hoodies at Old Navy, here are the deals retailers launched to compete with Singles Day.