On China's Singles Day

SHANGHAI CHINA- NOVEMBER 10 A general view of atmosphere at 2017 Alibaba Singles' Day Global Shopping Festival gala at Mercedes Benz Arena

On China's Singles Day

It is selling the lifetime supply of grain-based baijiu, a typical Chinese alcohol, on e-commerce giant Alibaba's business-to-customer Tmall platform. Sales online in China have exceeded the two biggest shopping days in the USA combined - Black Friday and Cyber Monday.

It's a response to Valentine's day and is on 11/1 - the ones all symbolize single people.

Alibaba began running sales on the day in 2009 and it has since become the country's equivalent of the United States Black Friday or Cyber Monday.

This year, some Japanese companies plan to launch products and run aggressive sale promotions on China's leading online shopping sites, like those operated by Alibaba.

Alibaba hit $5 billion in transactions in less than 15 minutes on Singles Day, blowing the opening minutes of past years for the one-day shopping event out of the water. Impressive until you compare it to the $17.6 billion in sales generated by Chinese consumers in a single 24-hour period during 2016's Singles Day.

Legend has it Singles Day began in the early 1990s in the dorm rooms of Nanjing University, one of China's oldest and most prestigious universities, when a group of single friends bemoaned the lack of significant others and made a decision to mark the day by organizing activities as a group of singles and soothing their loneliness by buying themselves a gift.

Feeling down on "Singles Day" this weekend? In the first hour of Singles Day past year, about 175,000 hours per second came in. With more global brands participating in the holiday with deals, sales could be much higher than past year, according to Squali.

Alibaba also hosted a star-studded gala enlisting tennis star Maria Sharapova and American rapper Pharrell Williams to pump sales, Bloomberg reported. The pictures of the bottles are wrapped with the words "This liquor is your partner for life".

The endless batch can be inherited by a family member if the customer dies within five years of the purchase.

New Star Wars trilogy
Charlie Sheen Denies Accusations He Sexually Assaulted Corey Haim