China’s Single’s Day Sales Surpass Cyber Monday’s Sales in 30 Minutes

Last year, the United Steaks consumed at a rapid pace, preferring the online venue on Cyber Monday ($2.2 bill in sales) to shop to their gluttonous heart’s delight. However, all of our shopping was eclipsed by China’s imaginary holiday event called “single’s day”, a day hijacked and promoted as a holiday by the CEO of BABA, Jack Ma, within 30 fucking minutes.

Last year, Alibaba hosted $9.3bn worth of transactions on its online stores, after consumers spent $2bn in the first hour alone.
This year, Singles Day is expected to smash through those records.
IDC, the market research firm, predicts that Alibaba’s sales during this day could reach 87bn yuan, or $13.7bn.

Jack Ma is an evil genius villain. He hijacked this little known college originated holiday, spawned from demographic fuckery, which is the net result from decades of idiotic one child policy in China.

Via Wikipedia

Singles’ Day or Bachelors’ Day was initially celebrated at various universities in Nanjing during the 1990s, and originated from Nanjing University in 1993.[citation needed] It got the name “Singles’ Day” because the date consists of four “one”s. These college students have since graduated, and carried the university tradition into society. Singles’ Day has been largely popularized in the internet era and is now observed by youth in several regions outside China as well.

Why is BABA lower today? I believe people are still fainting over last year’s big fade, which saw BABA top out and burn out after single’s day; because, well, it’s all downhill from here.

The scale of this event is awe-inspiring. It paints a vivid picture of how powerful a true Chinese middle class could be for retail. It’s the reason we still tolerate Chinese stocks, despite the fact that most of them have proven to be outright scams.

UPDATE: BABA has surpassed $5 billion in sales within 90 minutes, more than double our Cyber Monday.