Chinese Singles' Day spending blows Black Friday and Cyber Monday out of the water

Americans see Black Friday and Cyber Monday as the ultimate consumer spending extravaganzas, but the annual "record breaking " sales days have nothing on China'sso-called Singles' Day.As we can see in this chart from Statista, Singles' Day sales make theUS Thanksgiving weekend spending look likechump change. This year, Singles' Day was bigger than ever, with Chinese consumers breaking all-time records by spending a total of $25 billion across Alibaba's e-commerce platforms. Although other outlet...