So, how deep a hole did you burn in your wallet during this year’s shopping bonanza (aka Black Friday)?
I know mine was deep, but it happened in two phases. No, not Black Friday being the first and Cyber Monday being the second – I’m talking about another big sale which happened two weeks ago. Most of this sale happened in Asia where I’m located, and it might sound somewhat alien to anyone living elsewhere.
It’s known as Singles’ Day or 11/11, and it’s just as big as Black Friday. In fact, if you look at the figures, it’s significantly bigger.
A brief history of Singles’ Day
Singles’ Day was started in China by a group of college students who wanted to celebrate singlehood. The date 11/11 was chosen as it resembles four lonely sticks. In 2009, e-commerce giant Alibaba decided to turn this date into a massive online shopping spree and since then, Singles’ Day has become one of the world’s biggest shopping days.
In 2017, Alibaba alone raked in $25.3 billion while the Black Friday and Cyber Monday combined brought in only $11.62 billion. With such an astounding difference, we were curious to see how these shopping sprees are reflected in online conversation.