It's the day after Singles' Day

While back home we honored the men and women who so bravely serve and have served, here in China, November 11 marks Singles' Day (cue Sasha Fierce). Yes, it's in response to Valentine's Day, but more importantly, it's the biggest online shopping day of the year IN THE WORLD.

Cyber Monday has nothing on Singles' Day. According to Bloomberg, last year's sales on Singles' Day for the Alibaba Group, China's biggest e-retailer, totaled more than $3 billion, which more than doubled the amount spent by U.S. consumers on Cyber Monday in 2012. This year, the average person will spend almost $300, and sales are expected to surge to $5 billion. Insane, right?

Within the first hour of Alibaba's 2013 shopping event, Chinese consumers had spent nearly $1 billion. Four more to go...