Singles Day in China is a sort of anti-Valentines day where people celebrate their independence and self-sufficiency. They do this by buying stuff. It’s a day that makes Black Friday in the US look pale in comparison. Singles Day is November 11–because of the abundance of ones in the date: 11/11. As with big US shopping days, retailers offer what are perceived as massive discounts on desirable items.
China’s largest retailer–the online juggernaut Alibaba–reported that it sold $2 billion worth of merchandise in the first hour of Singles Day sales. That’s around $33,000,000 a minute. Last year it sold merely $5.8 billion during the entire 24 hour day.