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Since the term “Cyber Monday” was officially coined back in 2005, the Monday after Thanksgiving has swiftly become the most important day of the year for online retailers in the US. Indeed, last year, Cyber Monday sales in the US reached a whopping $1.7 billion, making it the biggest online spending day in history.

This year, Black Friday saw impressive online sales of about $1.51 billion, close to topping last year’s Cyber Monday extravaganza. However, Cyber Monday was actually beaten by a huge distance on November 11th 2014 during Singles Day in China. Alibaba made a stunning $9 billion in revenue and $2 billion of that came during the first hour.