A Holiday That Shows the ‘Power of Chinese Consumption’
In just a few years, Nov. 11 has become the busiest online shopping day on Earth. It is known as Singles Day in China, an event in which online retailers offer massive promotions and shoppers happily gobble up the bait. Some have called it “a 24-hour orgy of consumption.” The informal holiday was started as a joke by a group of Chinese college kids in the 1990s, a kind of anti-Valentine’s Day to commiserate over breakfast about their...
