http://blog.sethroberts.net/2012/11/17/taobaos-double-eleven-worlds-biggest-eholiday/

In Canada, November 11th is the Remembrance Day, and on this day all Canadian people cherish the memory of heroes who sacrificed in the second world war .However, in China,the November 11th has another meaning,and it is called Singles Day because of its image 11.11.Alibaba group hold a shopping carnival through its shopping software: Tianmao (used to be called Taobao,kind of like Ebay). According to the news,during just 12 minutes,the volume of transaction of Tianmao exceeded 10 billion RMB. Alibaba’s shopping carnival held every year on 11 November,and nearly every year this event can achieve a huge success.The primary reason of its success is the power of Chinese consumption.As we know, China has the largest population in the whole world,and Chinese economy increases at a steady rate.Chinese people have a higher income than before,therefore, they own spare money to shopping online.In addition,the success of Tianmao’s shopping carnival is associated with its convenient shopping experience.Customers do not need to go outside,and they just stay at home and surf the Internet,then they could buy whatever they want.All commodities will be shipped to customer’s address in several days.Furthermore, the discount of the commodities in Tianmao is very attractive for customers.Operating an online store on Tianmao do not need to pay for expensive rent,which results in the price of all the commodities is much cheaper than that of goods showed in physical stores.On 11 November, most of the goods on Tianmao sell at a discount.In my opinion, nobody wants to lose the opportunity to buy their desired goods at a perfect price.