November 11 – known as “Singles’ Day” in China because it falls on 11.11 – is already the planet’s biggest online retail event of the year. As China’s middle class grows every record set in 2013 is primed to fall tomorrow. Combined sales of Chinese online retailers are tipped to break the £5 billion mark within the first 12 hours of clicking.
Spending is boosted by massive discounts, of up to 70%, from over 20,000 stores on websites such as Alibaba and JD.com. 2014 is expected to see a big increase in holidays bought as well as 100’s of millions of packages.
It compares with “Cyber Monday” in the US, the Monday after Thanksgiving, which is also marketed as a big internet shopping day.
Read more here http://www.bbc.co.uk/news/business-29999289