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The Singles Day Sales start tomorrow

The Singles Day Sales start tomorrow

The Singles Day sales figure significantly dwarfs that of the US' Black Friday and Cyber Monday sales. The day began innocently enough in 1993 at Nanjing University as a day to revel in singledom, according to Forbes; Alibaba's online shopping festival for the event began in 2009 as a self-affirming excuse to buy a lot online with the knowledge you're sticking it in the face of the retailers who cater to couples on Valentine's Day, but now it's become the showground for Alibaba's blossoming rivalry with Amazon. "Breaking into this market has been made much more straightforward thanks to Chinese third-party platforms such as Alibaba's Tmall".

As tills shut at midnight yesterday, Alibaba's live sales ticker registered 168.3 billion yuan or US$25.4 billion, up 39 per cent from 120.7 billion yuan previous year - more than double the 2016 gross domestic product of Brunei (US$11.4 billion). Cyber Monday in the United States saw $3.45 billion in online sales past year.

Alibaba's 11.11 has grown beyond an annual online shopping bonanza to become a key driving force in transforming the lifestyle of Chinese consumers today through modern technologies. These sales were added towards the total sales for Singles' Day.

The holiday was once a celebration for China's lonely hearts and unattached singles, known as "bare sticks".

An estimated 1.5 billion parcels will need to be delivered over the next week. It takes its name from the way Nov 11 is written numerically as 11/11, which resembles "bare branches", a Chinese expression for the unattached.

Gay Talese tells Kevin Spacey's alleged victims to "suck it up"
However, she hinted that Spacey had assaulted a woman as she told the paper that Spacey had "plied her with booze". Richard Dreyfuss" son Harry called him "a sexual predator' in an article he wrote for BuzzFeed.

This year, the company will spread its sales to physical buildings, with 10% of China's convenience stores participating.

"At 12:07am, the number of payment transactions processed by Alipay surpassed 100 million, equivalent to the total number of payment transactions processed during 2012", it said.

But environmentalists accuse Alibaba and other e-tailers of fuelling a culture of excessive consumption and mountains of waste.

Alibaba ( BABA ) racked up another huge take from its "11.11 Global Shopping Festival", but JD.com ( JD ) also enjoyed a sales windfall.

Greenpeace said "Singles Day" deliveries a year ago resulted in 130,000 metric tons (143,000 short tons) of packaging waste in what it called a "disaster for the environment". It already has a substantial stake in Lazada, an online retailer in South-east Asia and recently launched an electronic trading hub in Malaysia.

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