World’s Biggest Online Shopping Site Isn’t Amazon

What's Hot

Do This or Your iPhone Bill May SkyrocketSave

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

11 Places in the World Where You Can Afford to Retire in StyleMore

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

32 of the Highest-Paid American SpeakersMake

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

9 Tips to Ensure You’ll Have Enough to RetireFamily

30 Awesome Things to Do in RetirementCollege

5 Spots Where Retirees Can Live for Less Than $40,000Real Estate

10 Ways to Reduce Your Homeowner’s Insurance RatesFamily

10 Ways to Pull Together the Down Payment for a HomeCredit & Debt

Chew on This: The Story Behind Your Hershey’s Halloween TreatsBusiness

Amazon doesn't even come close. On the Chinese version of Black Friday, consumers spend more at this site than Americans spend anywhere online for Black Friday and Cyber Monday combined.

In the U.S., Nov. 11 is Veterans Day. In China, it’s basically Black Friday.

And it’s all done on one online shopping platform that dwarfs Amazon, called Alibaba. Last year its sites called Taobao and Tmall handled $160 billion in merchandise, The Wall Street Journal says — more than Amazon and eBay combined, even though it only made about one-fifth of eBay’s profit.

Like Amazon, Alibaba has a marketplace full of small business sellers offering all kinds of stuff, along with name brands you’d recognize, such as Nike or Gap. Yahoo owns a 24 percent stake in Alibaba.

Last year Alibaba’s Nov. 11 sales totaled $3.1 billion, the WSJ says. That’s more than the combined $2.5 billion generated by Black Friday and Cyber Monday in the U.S. This year’s sales were even bigger: about $5 billion, according to The New York Times. And five years ago the event didn’t even exist.

This Chinese shopping tradition started in 2009, the WSJ says, when a couple dozen merchants banded together and offered simultaneous discounts to boost sales. It happens to fall on a Chinese holiday called Single’s Day, when people laugh or cry about their relationship status. (Get it? The date, 11/11, has four singles.)

It’s a sign of how fast online shopping has taken off there. “Chinese consumers are predicted to spend $290 billion at online retail sites this year, compared with $260 billion for their United States counterparts,” the Times says. And Alibaba currently accounts for somewhere between two-thirds and three-quarters of online retail sales there.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 7 Ways to Save More at Big Lots

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,707 more deals!