World

China's Singles Find A Match in Retailers

Chinese shoppers spent at least 35 billion yuan, or $5.7 billion, in an online shopping spree timed to coincide with Singles' Day. That's more than double what Americans spent on Cyber Monday last year and 80% over last year's sales.

Observed each year on 11/11--the lonely-looking numerals are said to resemble bare branches, a Chinese term for bachelors--Singles' Day started in the 1990s as a kind of anti--Valentine's Day, marked with dinner or drinks among unmarried friends. Over the past few years, online shopping giant Alibaba turned the wistful occasion into a bargain-hunting bonanza,...

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