Retailers preparing for 11/11

Brands from the United States, from international names to local niche outfits, are gearing up for Alibaba's Singles Day shopping festival, the world's largest one-day online sales event, which begins at midnight on Friday

This year, Singles Day sales are forecast to hit $23 billion, surpassing last year's $17.8 billion, when sales from overseas stores hit a record $15.5 billion. US retailers accounted for the second-largest demographic, trailing only Japan.

During last year's Singles Day, also known as 11/11, Costco of the US was the top retailer on Alibaba's main platform, Tmall.