Chinese consumers are serious when it comes to shopping. On the Cyber Monday-like online sales holiday held on Nov. 11, China’s largest online retailer, Alibaba, has made billions of dollars in sales. In 2016, Alibaba apparently made US$17.8 billion in sales in the span of just 24 hours, according to the MIT Technology Review.
The online shopping spree began on Nov. 11, 2009 as a special sales event on Taobao Mall, an online retail platform operated by Alibaba (which would later be renamed as Tmall.com). Its immense popularity led to the date becoming an official sales holiday every year.
