We’re talking about Singles’ Day, which takes place this Sunday, November 11. Singles’ Day is (also known as “Double 11” because it takes place on November 11, or 11/11 every year) is a Chinese holiday that began in 1993 and celebrates the pride in being alone, or single. Matter of fact, the reason Singles’ Day falls on November 11 every year is because of the number “1” represents a single person.
But since its inception, mainly thanks to Chinese tech giant Alibaba, in the last decade Singles’ Day has blossomed into the largest shopping holiday in the world. 2017’s Singles’ Day brought in $25 billion in sales in just a single 24-hour period, reports CNBC. While most businesses benefit from the holiday in China now, the biggest beneficiary of Singles’ Day is Alibaba. In 2017 the company handled 256,000 transactions per second in the 24-hour period and shipped 775 million parcels.
But surely Singles’ Day can’t be bigger than Black Friday, right? Wrong. Singles’ Day dwarfs Black Friday and Cyber Monday combined. Last year Black Friday online sales hit $5.03 billion, and Cyber Monday sales hit $6.59 billion–less than half of what Singles’ Day brought in on, well, a single day.