While the holiday shopping season in the U.S. doesn’t officially kick off until next week, Chinese retailers are already counting their profits from the phenomenon known as Singles Day. Founded in the 1990s by a group of college students celebrating their bachelorhood, the November 11 holiday has since morphed into a nationwide shopping spree. This year the online retailer Alibaba brought in nearly $18 billion in sales, far more than what the entire American retail industry earns during Black Friday Continue reading →