Singles Day

Did you miss Singles Day this year?

This is the biggest sales day celebrated by Chinese people on every 11 November.

Alibaba first started the annual shopping event and generated a whopping $US25 billion in sales in 2017 — just from the 24-hour period of transactions.

This year, Alibaba sales hit over $US1 billion ($1.3 billion) in just 85 seconds before soaring past $US30 billion ($41.4 billion) over 24 hours. The previous record, set last year, was $US24.2 billion ($33.4 billion).

The 24-hour shopping extravaganza regularly racks up bigger sales than Black Friday and Cyber Monday combined.

Other platforms have now joined the fray, making this day the biggest sales day in the world.

So, next year plan early - there's a lot of retail companies out there wanting to cash in on the event.

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