Much Ado about 11.11 Single's Festival
11.11, also known as Singles Day, is a shopping holiday that originated in China. The holiday was created by four single men who lived together in a dormitory at Nanjing University in the 1990s. It was later adopted by Alibaba in 2009 as a way to promote online shopping, and has since become the largest online shopping day in the world. During the holiday, merchants offer steep discounts and consumers flock to online marketplaces to take advantage of the deals. In recent years, Alibaba has also used the holiday as an opportunity to promote charitable giving, allowing merchants to pledge a portion of their sales to a charity of their choice. The holiday has broken sales records year after year, with 2022 being no exception. Singles Day, also known as 11.11, is the world's biggest shopping event, with sales exceeding $139 billion in 2021. Alibaba and JD.com dominate Singles' Day sales, with the third largest brand in terms of sales volume being Pinduoduo, which made u...