Singles’ Day is the Chinese equivalent of Black Friday — these are the US retailers offering Singles’ Day sales this weekend


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Singles’ Day, which takes place on November 11, is a retail holiday created by Chinese e-commerce company Alibaba.
Last year, the single shopping event generated more than $25 billion in sales in one day.
Not many online retailers in the US are participating in it yet. The ones that do have Singles’ Day promotions are offering 11% to 60% off. We rounded them up below.

If you thought Black Friday was an extravagant enough event, wait until you hear about Singles’ Day.

The unofficial Chinese holiday of guanggun jie (“bare sticks holiday”) or shuang shiyi (“double 11”) started in the ’90s as a celebration of singledom. In 2009, Alibaba, the company that owns the two largest e-commerce websites in the world, Taobao and Tmall, repackaged the day into a discount shopping event, encouraging singles to treat themselves.

Chinese shoppers didn’t need to be told twice. The holiday quickly picked up steam and is only getting bigger, especially as more overseas vendors enter the fray to capitalize on the clicks of the world’s largest deals-hungry population. In 2017, sales surpassed $1 billion within two minutes of the start of Singles’ Day, and total sales for the day reached a record $25.3 billion. US Black Friday sales, which totaled a little over $7.9 billion in 2017, seem measly in comparison.

While Alibaba now calls it the 11:11 Global Shopping Festival, Singles’ Day has yet to reach true global audience. Here in the US, a small number of retailers are just starting to join in with Singles’ Day-specific deals.

Read more: Black Friday 2018: Insider Picks …read more

Source:: Business Insider

      

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