China’s Version of Black Friday and Cyber Monday

My wife has decorated the house for Thanksgiving.  For me this marks that the Holidays are on the way, and with that, the anticipation of Black Friday.  So it was of particular interest this morning when I read the WSJ article on “Alibaba Builds a Black Friday for China”.

Factoid #1: Alibaba is the world’s largest e-commerce platform.  Last year the two main shopping sites that use the Alibaba platform, Taobao and Tmall, generated $160 billion in sales which is more than Amazon and eBay combined.

Factoid #2: The Shopping Festival which occurs on Nov 11th is the equivalent of Black Friday in the U.S. The Shopping Festival was stated in 2009.  The term Black Friday goes all the way back to 1961 while Cyber Monday made its first appearance in 2005.

Factoid 3: Last year the Shopping Festival generated $3.1 billion in sales which is twice as much as the $1.5 billion in online sales generated on both Black Friday, the day after Thanksgiving, and Cyber Monday, the Monday after Thanksgiving.

In anticipation, I wish all my Chinese friends a Happy Shopping Festival, and to all my U.S. friends a Happy Black Friday, and Cyber Monday!