Retailers are readying for the biggest shopping day in China—Singles Day, or 11/11—the shopping holiday created by Alibaba (NYSE:BABA) that could deliver yet another sales record this year, in a single day.
Singles Day began as a way for single people in China to celebrate by buying themselves something. The shopping event has grown and in 2014, Alibaba's network of online retailers made about $8.17 billion in sales in 24 hours. That number was significantly larger than the $5.75 billion made on Singles Day in 2013.
This year, more U.S. companies will take a share of those sales, thanks to partnerships with China's Alibaba, where U.S.-based retailers now sell directly to consumers in China.
In August, Macy's announced a joint venture with Fung Retailing to open a store on Alibaba's Tmall. Macy's doesn't plan to open brick-and-mortar stores there, but is using the digital format to test and learn, a Macy's spokesperson told Bloomberg Business.
Other U.S. retailers with marketplace presence on Tmall include The Gap brands, Amazon and Costco.
Alibaba estimates that 1.7 million deliverymen, 400,000 vehicles and 200 airplanes will be deployed to handle packages holding everything from iPhones to underwear.
The event this year extends beyond the digital realm into brick-and-mortar space. More than 1,000 retail brands with 180,000 stores in 330 cities across China will participate in the event. In Beijing alone, more than 8,000 stores will take part in the festival.
-See this Fortune article
-See this Bloomberg Business story
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