SINGAPORE – Chinese e-commerce giant Alibaba's Singles Day, the annual celebration of unbridled consumerism on Nov. 11, has a firm grip on Malaysia and Singapore, but less so in neighboring Indonesia and Vietnam, data released by online advertising solutions provider Criteo shows.
The event – held on 11.11 because the date resembles single individuals when expressed in numerals –generated a whopping 418% spike in online retail sales for Malaysia last year, and a comparable 368% increase for Singapore. Other tentpole shopping festivals have not managed to empty wallets at the same pace in the two countries, according to Criteo.
