>> It's a one-day shopping frenzy that leaves Black Friday in the dust. Sales on Saturday's Singles Day in China hit more than $25 billion in 24 hours, an eye-popping figure that broke the event's previous records. The spending festival is led by Chinese e-commerce titan Alibaba, with users across the country hunting down bargains online and in stores.
The day begin as a celebration for single people. Nine years after Alibaba co-opted it as a sales driver, it's the world's biggest shopping day. For years, Singles Day has ranked up more sales than Black Friday and Cyber Monday combined. This year after a star-studded event featuring Nicole Kidman and singer Pharrell Williams late Friday, the company said in just the first two minutes pre-orders drove a billion dollars of sales, and 10 billion in just over an hour.
Next comes a week of delivery blitz, with couriers and robots ready to move an estimated 1.5 billion packages.