PYMNTS Daily Data Dive: Singles’ Day Madness!
Upcoming Singles’ Day 2016 sees major retailers under close monitoring by China’s SAIC. There’s a lot of money at stake. Since starting Singles’ Day sales in 2009, Alibaba has made major cash. Last year, Alibaba reportedly earned $14.3 billion on Singles’ Day, up 60 percent from 2014. Compare that to projected sales figures for the U.S.’s largest shopping day, Black Friday — estimated to exceed $3 billion for the first time this year.
