Singles' Day sales to hit $20b this yearRetail market analysts predicted that November's big shopping frenzy－the China-inspired Singles Day－will see a year-on-year sales increase of 40 percent, as Alibaba Group Holding Ltd and major international brands use virtual and augmented reality to woo online shoppers. This year, more British online retailers are joining in with specific offers targeted at China. In terms of online sales volumes, Singles Day dwarfs Black Friday, the shopping holiday that unofficially marks the start of Christmas shopping in the United Kingdom and United States, falling on Nov 25 this year. Last year, Britons spent $1.35 billion and Americans spent $5.8 billion online over Black Friday and its web-based equivalent Cyber Monday. British supermarket chain Sainsbury Plc has used a virtual reality promotion tool on Alibaba's online store Tmall in August.

Source: The China Post November 08, 2016 18:19 UTC