Merry Singles Day! Or, How I Learned to Love the Deal

By James Hires Mention online shopping and many people will think of Amazon (Nasdaq: AMZN). And that’s perfectly understandable. The online juggernaut has indeed changed the way retail works.

Despite the company’s recent pullback in share price, Amazon still seems unstoppable. But in fact, there is one company that can rival Jeff Bezos’ e-commerce powerhouse: China’s Alibaba (NYSE: BABA), or the Amazon of the Eastern Hemisphere.

Founded in 1999, Alibaba has been enormously successful. It’s so influential, it basically invented its own holiday.

November 11 became Singles Day in China as an anti-Valentine’s Day. It started as an obscure joke holiday for students but became much …read more