Are you gearing up for this year's Black Friday shopping extravaganza later this month? Or perhaps you'll skip the crowds and wait until Cyber Monday for some online holiday shopping. The total money and merchandise that changes hands those two days makes up a big part of U.S. retailers' annual sales.
Yet even with all the sales, specials and freebies, our Black Friday and Cyber Monday is just a fraction of all the stuff one company will sell online today.
It's all about an unusual holiday celebrated in China that shames our Black Friday and Cyber Monday. But while our Black Friday shoppers may have just left roast turkey on the table, if there's any turkey involved with today's Chinese holiday, odds are it's being microwaved in a pre-packaged TV dinner. And if there was a song to celebrate this holiday, then it'd have to be "One is the Loneliest Number."
In China, they call it Singles' Day. It seems the whole point of the celebration is to buy gifts for yourself. And judging from these sales numbers, singles in China are pretty generous - to themselves!
This massive Chinese holiday netted online marketplace Alibaba $9.3 billion in sales. This is a whopping $3.5 billion more than last year's record sales of $5.75 billion.
Have you heard of Alibaba, the world's largest retailer? Find out more about Alibaba here.
So how big is today's $9.3 billion compared to our Black Friday and Cyber Monday totals? Last year, we only rang up about $2.9 billion according to ComScore.
But that's not where this story ends, though, because Singles' Day was the Chinese equivalent of a Hallmark holiday. Few seemed to care much about it until Alibaba decided that it wanted its own Cyber Monday. Singles' Day, with the help of Alibaba's marketing team, has exploded into the biggest online shopping day of the year - in the entire world.
Move over Black Friday and Cyber Monday, maybe High School Sweethearts Tuesday might be the next real day to get all of the best pre-Christmas stuff.