Retailers all over the world are gearing for the biggest shopping event on the planet, Singles' Day.

The unofficial holiday is celebrated on November 11 and was the brainchild of Alibaba founder Jack Ma.

Having launched 11 years ago, it's now a multi-billion-dollar retail extravaganza, dwarfing the likes of Black Friday and Cyber Monday in terms of revenue generated.

Among those buying for attention in that marketplace is Aromas Artesanales, a Spanish perfume company.

They will be showcasing their products at this year's event for the first time.

Pre pandemic, the company used to sell perfumes in shops all over Spain, but the lockdown forced them to close all but two of their stores. 

However, they have since formed a partnership with Alibaba owned online retailer AliExpress.

And with their help, the business moved online. They also diversified, producing hand sanitizers and facemasks as well as perfume.

José Antonio Beltrán is the area Mmanager for Aromas Artesanales. He told CGTN Europe:

"Our business went through a really positive change now that we are international. Our brand has reached countries that we otherwise we couldn't have.

"They [Aliexpress] supported us so we could reach new places and get to be known." 

AliExpress is making inroads into Europe.

In 2019, AliExpress chose Madrid as the location for their first physical store in Europe, or as they call it 'offline shopping.'

The Madrid store showcases 1,000 products from more than 60 brands.

"We are a global platform. We don't want to be seen just as a Chinese platform," Estela Ye, AliExpress director of Mmarketing, told CGTN Europe.

"That's why we opened two stores in Spain so we could be close to our customers so they can come and not only look at a specific product but also live a shopping experience.

"At the beginning of lockdown, we started a program called 'Together without fees.'

"We deleted our fee for over 8000 Spanish businesses operating in AliExpress which meant [$1.2 Million] worth of savings for them so they can use that money for other tasks that will help them remain operative."

Now both AliExpress and Aromas Artesanales are preparing for the world's biggest shopping event, Double 11, a nickname for November 11.

It was originally an unofficial Chinese Holiday where single people would hold parties for each other. But in 2009, Alibaba chief Jack Ma turned it into the biggest shopping event in the world.

Last year its sales generated over $38 billion over just 48 hours, that's more than Black Friday and Cyber Monday combined.

What's more, many brands will be increasing their Double 11 investment in an effort to boost sales in what has been a disastrous year for most.

Video editor: Terry Wilson.