Some of you might not be aware of what the 11.11 Global Shopping Festival is. The 11.11 global shopping festival, or November 11 is an online Sale which starts on November 11 at 12.00 PST, according to the LA/Vancouver, BC/Seattle/San Diego/Baja California time zone. It is also referred to as Single’s Day sale, hence the repeating ones in the date.
What a super duper year it has been for Alibaba. Their IPO launch blew away investors’ expectations with the highest IPO raised at $25 billion. And today is China’s Singles’ Day. It looks like everyone in China bought something online! For those of you who are in the dark, China’s Singles’ Day can be considered America’s Thanksgiving weekend sale rush. The only difference is that it’s all happening on one day – 11.11.14.
Talk about bitter rivalry. Apple Pay made headlines from a successful launch and within only 72 hours got a massive 1 million credit card signups. However, all does not seem well with some of the major retailers who had previously come together to form MCX (Merchant Customer Exchange) lead by Walmart.