Here in the U.S., our annual shopping frenzy is served up with a side of Thanksgiving turkey. But over in China, Singles Day (a recently dreamed-up holiday) takes the win for record-breaking sales. This year, the November 11 occasion earned more than $9 billion – almost triple what Americans spent on Black Friday and Cyber Monday combined last year.
Wondering how this retail bonanza got its start? Back in the 1990s, Chinese college students used the day to celebrate their singledom (sort of an anti-Valentine’s Day). In the last few years, retailers encouraged the unattached masses to treat themselves – and indulge they did. Just like that, the biggest shopping day in history was born.
By Susie Kostaras, Associate Content Editor
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