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The world’s biggest shopping day is happening right now, and you probably don’t even know it. We have yet to tally how much Alibaba makes on Singles Day this year, but Bloomberg says total sales could reach 87 billion yuan, or $13.7 billion, citing research from market research firm IDC.

So, yes, Singles Day is a certifiable hit, even as most of us in the US sit here, completely unaware it’s going on.
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Launched by Chinese e-commerce giant Alibaba in 2009, the idea is that for a full 24 hours, shoppers who are unmarried and unattached should go online and splurge on a nice gift for themselves. This year, during Alibaba’s four-hour television event the night ahead of Singles Day (yes, this year they celebrated “Singles Day’s Eve”), Alibaba trotted out a parade of Chinese pop celebrities and movie stars.
In the first 90 minutes after the Singles Day kickoff, at midnight in Beijing, Alibaba said it surpassed $5 billion in total sales. Meanwhile, in the same year in the US, online sales on Black Friday promotions—that is, Thanksgiving through Cyber Monday—amounted to just $6.56 billion, according to research firm eMarketer. Note that figure spans all online US retail companies, compared to the payload for just one Chinese company, Alibaba. A recent survey from Nielsen, meanwhile, found that 56 percent of consumers said they would spend more on Singles Day this year than in 2014, and overall awareness about the online shopping holiday among Internet users had risen this year compared to last as well.

You can bet that every retailer is watching in hopes of grabbing even a tiny piece of that success.
Kevin Spacey made an appearance via video in his House of Cards persona, President Frank Underwood.
Despite losing $55 billion in US market value this year, and in spite of a slowing economy in China overall, Alibaba says it still plans to deploy 1.7 million delivery personnel, 400,000 vehicles, 5,000 warehouses, and 200 airplanes to take care of package deliveries. Sixty-eight percent of the total value of transactions came via sales on mobile devices, the company said.

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