PG - Are You Single? China's Singles' Day Could Propel These Major Stocks | Benzinga
Forget the fanfare surrounding Black Friday and Cyber Monday; China's Singles' Day reigns supreme as the globe's most significant shopping extravaganza.
Initially celebrating the joys of singlehood as an alternative to Valentine's Day, this event has morphed into an extended online retail festival, climaxing on Nov. 11 each year.
The inception of Singles' Day traces back to 1993 at Nanjing University, where it was initially christened "Bachelor's Day," according to Reuters.
This day allows singles to indulge in self-gifting and to partake in various social events.
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According to consultancy firm Bain, last year's Singles' Day, also dubbed "Double 11," saw sales reach a staggering 1.15 trillion yuan ($157.97 billion), dwarfing the $35.3 billion spent by U.S. ...