Singles’ Day Fails to Capture the American Consumer
The shopping phenomenon of Singles Day might have broken records in China, but it failed to capture the attention of U.S. consumers, according to a report released Wednesday. The Adobe Digital Index showed that the 24-hour sale celebrated on Nov. 11 has become the largest shopping day in China, but has yet to catch on in the U.S., despite participation from large retailers including Wal-Mart. According to Adobe, Singles Day spending in the U.S. is expected to hit $1.4 billion this year. While that would represent a 14 percent increase from 2014, it falls well shy of Adobe's forecast for Cyber Monday.