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Update | Seven things to know about Singles’ Day

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Alibaba set a Guinness Record last year with its US$14.3 billion sales revenue in 24 hours of frenzied online shopping. Photo: Reuters

Here is what you need to know about the world’s largest online shopping event:

- What is Singles’ Day?

Singles’ Day started as an idea among students in China during the 1990s to organise activities to break free of their loneliness. The four digits 11.11 resemble sticks -- gunzi -- which evolved into guanggun, or bachelors. Single women adopted the festival as an antidote to Valentine’s Day.棍子

- How did Singles’ Day become China’s biggest online shopping event?

Alibaba turned November 11 into an online shopping event in 2009. Alibaba trademarked the 11.11 name in 2012.

- Is Singles’ Day bigger than Black Friday and Cyber Monday?

Singles’ Day became the world’s biggest online shopping event in 2012 when Alibaba generated US$3.06 billion in gross merchandise volume (GMV) in just 24 hours.

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