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Alibaba's Singles' Day sales obliterate online shopping records
Cyber Monday's just around the corner and online retailers in the U.S. will surely be getting excited at the prospect of a record day of sales.
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What is Singles' Day and how did Xiaomi make a whopping $188 million in sales on it?
Xiaomi, China's second-largest mobile vendor, recently announced that it made $188 million in just one day. Xiaomi accomplished this feat on a day known as Singles' Day, a China-observed holiday. Held on November 11 (that's 11/11, the first hint about why it's called Singles Day) was originally started in 1993 at Nanjing University and was celebrated only by male bachelors, hence the original name "Bachelors' Day."
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