TheStreet breaks down how retail sales during the holidays works.
The difference between Cyber Monday and Alibaba Singles Day. Let's get started:
These two days are the biggest online spending days of the year for both the U.S. and China.
Alibaba Singles Day? China
Cyber Monday? U.S.
But there's a key difference.
Alibaba is one company. It's one of China's largest tech companies - think of it like it's the Amazon of China. Total e-commerce giant.
And every year, Alibaba has a day where it sells discounted items on its platform and markets the day as kind of a holiday sales day to everyone in China.
The company now does north of $30 billion in sales on Alibaba Singles day.
Cyber Monday is basically a marketing term for the Monday after Thanksgiving, when tons of online retailers, large and small, hawk discounted products online for holiday shoppers ready to spend.
In 2018, Cyber Monday saw $7.8 billion in sales.
So what's the point of all this? Watch the video above.
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