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Known as Singles' Day, Alibaba and its founder, Jack Ma, transformed the de facto holiday from an ‘anti-Valentine's Day’ for Chinese singletons to a global shopping festival back in 2009 – and made billions of dollars in the process. Singles' Day, also known as 'bare sticks holiday,' started in 1993 at Nanjing University as a day for students to celebrate their singledom.
The date was chosen as it resembles 4 solitary bare sticks. The annual event kicks off on the midnight of 11 November and runs for 24 hours featuring steep discounts that are driven by the main Alibaba-owned platform, Tmall.
Essentially, think of it as the Asian version of America’s Black Friday and Cyber Monday shopping sales – but bigger than the two combined. This year, Alibaba says over 15 million products from more than 140,000 brands, including 60,000 international brands, will be offering discounts on Tmall – up from 100,000 last year.
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