Singles’ Day Sales Total US$18B

Alibaba says its “Singles’ Day” sales surpassed that of last year by mid-day and hit a record-crushing US$18 billion. The shopping holiday was initially created to celebrate single people in China, but has developed to become an annual 24-hour shopping spree that exceeds the combined sales of Black Friday and Cyber Monday in the US. On Singles’ Day, Alibaba Vice Chair Joe Tsai notes that shopping becomes “a sport.”