Here's the Difference Between Cyber Monday and Alibaba Singles Day
TheStreet breaks down how retail sales during the holidays works.
The difference between Cyber Monday and Alibaba Singles Day.
Let's get started: These two days are the biggest online spending days of the year for both the U.S. and China.
Alibaba Singles Day?
China Cyber Monday?
U.S. But there's a key difference.
Alibaba is one company.
It's one of China's largest tech companies - think of it like it's the Amazon of China.
Total e-commerce giant.
And every year, Alibaba has a day where it sells discounted items on its platform and markets the day as kind of a holiday sales day to everyone in China.
The company now does north of $30 billion in sales on Alibaba Singles day.
Cyber Monday is basically a marketing term for the Monday after Thanksgiving, when tons of online retailers, large and small, hawk discounted products online for holiday shoppers ready to spend.
In 2018, Cyber Monday saw $7.8 billion in sales.
So what's the point of all this?
Watch the video above.
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below