To answer that question, one needs to understand that "Singles Day" is a retail holiday based in China where those that are single spend November 11th online shopping as a form of retail therapy. In fact this date was chosen as numerically it is stated with single lines (11/11). Though Black Friday has existed for decades, and Singles Day started only years ago, last year the Chinese spent $3.1billion in a 24 hour period for Singles Day, while Americans spent $1.5billion on Black Friday. This years those numbers are expected to increase to $5billion and $2.3 billion, respectively. Already preliminary figures from Alibaba Group are reporting that sales topped $5.75billion Not surprising figures considering that 2% of the Chinese population accounts for 1/3 of the world's luxury consumption. How long can China continue this level of lavish spending given a slowing of the Chinese economy? Should luxury providers such as LVMH and Gucci alter their marketing strategies? And if so, where should their efforts be redirected?