China’s ‘Singles’ Day’ goes big, but physical stores are left behind

Chinese consumers, anxious about the slowing economy and worn out by endless retail discounts, are showing signs of fatigue toward the annual “Singles’ Day” shopping extravaganza – a worrying trend for Beijing as it looks to boost spending. The event was first launched by Alibaba in 2009 and is held each year on November 11. It has since grown into a month-long sales marathon for China’s e-commerce giants. We take a closer look.