11/11 is Singles Day
The largest online shopping holiday1 is a very important day for Alibaba2, JD.com3, Tencent4 & other internet companies.
Singles Day is the largest online sales event in China and the world according to Internet Retailer. Slate.com reported that 2014 Singles Day online sales exceeded Black Friday & Cyber Monday sales combined.
Singles Day is expanding globally, yet many investors outside of China know little about the Chinese online shopping holiday and how it is redefining online sales.
- Cyril Drouin, “An introduction to Singles' Day, the world’s biggest online shopping sale” Internet Retailer, 10/23/2015
- Alibaba was 8.49% of KWEB net assets as of 10/31//2015
- JD.com was 6.43% of KWEB net assets as of 10/31//2015
- Tencent was 10.87% of KWEB net assets as of 10/31//2015