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China broke its sales record on Singles Day—but U.S. companies are slow to pick up on the shopping holiday.

Nov 12 2019

China broke its sales record on Singles Day—but U.S. companies are slow to pick up on the shopping holiday. Yesterday was the major shopping spectacle celebrating unpartnered consumers in China, and e-commerce company Alibaba broke their 2018 record by making $38.3 billion. With Millennials in America staying single longer than any generation before them, it would seem like a no brainer for the event to be adopted here. But while brands’ interest has picked up in Europe and the U.S.—with Apple, Urban Outfitters, ASOS, and more participating—the trade wars and many existing shopping holidays are keeping Singles Day from taking off. (NYT, Vox)