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1 Dec, 2012

Spend it again, Sam – People’s Daily Online

Don’t be distressed if you had missed the world’s largest online shopping spree on Nov 11, when Chinese e-commerce giant Alibaba Group alone reported sales of 19.1 billion yuan ($3.06 billion) on the unofficial “Singles’ Day”. Chinese e-retailers are keen to have another shopping festival soon – after the spending frenzy that produced about three times the e-commerce sales from the recent Black Friday (the day after Thanksgiving), or twice the revenue from Cyber Monday (the first Monday after Thanksgiving) in the US market. The next target in China is Dec 12. Unlike Nov 11, which has been mocked as the “11-11” holiday by and for the country’s growing single population, “12-12” carries little implication except those auspicious numerals.

Read the rest: Spend it again, Sam – People’s Daily Online.