Singles’ Day, Asia’s answer to Black Friday and Cyber Monday, has once again been and gone. It is a fascinating phenomenon, taking China by storm every November 11th, as young people celebrate being single by treating themselves and friends to gifts. The event is becoming increasingly important to the Chinese economy; last year, shoppers spent the remarkable sum of $17.4bn in 24 hours. Even more extraordinary is the fact that the majority of these purchases took place on a single platform, Alibaba, where payments surpassed the $7bn mark within just two hours. This year, reports are confirming Alibaba has smashed its Single’s Day record once again as sales cross $25 billion. Following the Chinese celebrations, November will witness two more shopping extravaganzas, Black Friday and Cyber Monday, where consumers across the world will take advantage of special discounts online and in stores.