/ 11 November 2021

A good day to be single

Image source: Getty
Image source: Getty

Your relationship status might not affect your shopping abilities, but Singles’ Day is the biggest global online sales event of the year. Kicked off by Chinese online shopping juggernaut Alibaba, what used to be an anti-Valentine’s Day celebration (marked by the ‘4 singles’ in the date 11.11) is now an excuse to add to cart. Last year, sales of US$78 billion were just a bit higher than America’s US$10.8 billion Black Friday/Cyber Monday… But this year, analysts say the Chinese Government’s ongoing corporate crackdown is expected to dampen the cha-ching. In line with President Xi Jinping’s vision for China’s economy, the e-commerce giant said Singles’ Day will be more low-key as the company focuses on sustainability and philanthropy. #SquizShortcut

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