We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Singles' Day: What to Know About Alibaba's (BABA) Mega Shopping Event
Alibaba’s (BABA - Free Report) Singles’ Day (November 11) has grown to be the world’s largest online shopping day. Started 10 years ago, Singles’ Day is like Black Friday and Cyber Monday in the U.S., but just much, much bigger.
The sale covers popular things like TVs, smartphones, clothing, and furniture. People even stock up on health products, cleaning supplies, and toilet paper.
Last year, Alibaba sold over $25 billion worth of goods. There were 1.48 billion transactions with a peak of 325,000 orders per second.
Singles’ Day was renamed to “11.11 Global Shopping Festival” in 2015 as Alibaba grew sales beyond its core China market.
November 11 first became important in China in the 1990s as a bachelor celebration day. Later, it took on a new meaning as a day to celebrate relationships and find a potential partner.
Singles’ Day 2018 is expected to be bigger than ever, despite ongoing trade disputes and China’s economic struggles.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>