By Professor of Marketing Jeongwen Chiang, co-authored with Chen Lin

Alibaba, the world’s largest e-commerce platform, recorded its first RMB10 billion ($1.6 billion) in sales this Singles’ Day (also known as the “Internet Shopping Festival”) in only 38 minutes  – it took about 5 hours and 49 minutes last year, and it took U.S. consumers the entire Cyber Monday (Dec. 2, 2013) to reach that number. The first order, a refrigerator, was delivered to the customer’s door in Fo Shan City, Guang Dong province, at 0:15am. Read more on Forbes.com