Alibaba and JD.com are taking the battle for shoppers’ wallets to everything from the seasonal delicacy hairy crabs to luxury labels as China’s ecommerce titans prepare to face off on Singles Day.
The brainchild of Alibaba, Singles Day turned the anti-Valentine’s Day on November 11 into the biggest frenzy of consumption in the retail calendar. It worked: last year consumers spent $18bn, triple the $5.9bn spent on Black Friday, Cyber Monday and Thanksgiving combined in the US.
“It has tremendous staying power,” says Alibaba vendor John McPheters, co-founder and chief executive of streetwear retailer Stadium Goods. “I think we’ll see much more 11.11 Singles Day activity in the US as it continues to grow.”
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