China’s Countless Lonely Hearts Turn to Retail Therapy on Singles’ Day, Break E-Commerce Records

World

Retail therapy for the lonely crosses all cultural divides.

Every Nov. 11, China celebrates the consumer-driven holiday known as Singles’ Day in which heavy discounts and promotions encourage the boyfriend and girlfriend-less to do some serious online shopping. This Monday, sales on Chinese e-commerce site Alibaba reached last year’s Singles’ Day total by 1:04 pm. The $3.1 billion in sales was nearly double what the U.S. sold on Cyber Monday in 2012.

The Financial Times reports that in the near future, online shopping in China is anticipated to exceed that of the U.S.

[Financial Times]

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