China’s Singles Day is the biggest shopping day of the year.
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The event is run by one of the biggest e-commerce companies of the world. Here are seven things you should know about the holiday:
- Alibaba Group Holding Ltd (NYSE:BABA) is running the show, offering thousands of deals around China that makes the event even bigger than Black Friday.
- To make the shopping experience more complete, a virtual reality feature and a stream of web broadcasts will help to make China’s Singles Day easier for you.
- Some of the largest global brands are taking a part in this shopping spree, including the likes of Nike Inc (NYSE:NKE), Apple Inc. (NASDAQ:AAPL) and Target Corp (NYSE:TGT).
- About 10,000 merchants will sell to Chinese shoppers, with millions expecting to take part in the event.
- A fashion show and a tech hub are among the ways in which Alibaba is promoting the event, which is three days away but it is already garnering plenty of attention.
- China’s Singles Day can be one of the best days of the year for the Asian country, but the nation’s Ministry of Commerce will ensure that it is done right with proper advertising and fair practices.
- Last year, the company broke a Guinness World Record by raking in $14.3 billion over the course of 24 hours.
BABA shares gained 0.2% Tuesday.
