Singles day breaks every single record.

 In Business, Financial News

Alibaba’s singles day 11/11/19 is a chines holiday, like a black Friday or cyber Monday, this holiday is about sales and shopping. Singles day was coined by Alibaba’s founder Jack Ma in 2009 to drum up some business and publicity. Ten years later in 2019 singles day kicked off the first 60 seconds with over one billion dollars of sales, and closed the day totaling over 38 billion. Singles day in 2019 has broken every single day sales record. This is the equivalent of 3 months of sales for competitor Amazon. The savings came in at over 100 million dollars to the consumers with some products over 30% off.

The mainstream media is using singles day to gauge Chinese consumer confidence amongst the current political landscape between mainland China and Hong Kong. Despite the weekend protests in Hong Kong Chinese consumers don’t need to be enticed to shop for a deal. The Political landscape in China is at a tipping point, as hundreds of thousands of protesters are turning up as the government is starting to restrict Hong Kong’s liberties, many allotted to it when Great Britain returned the providence to mainland China. This is a story that’s developing as the peaceful protest has turned violent with two protesters currently in critical condition. We will continue to cover the story with weekly updates.

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