A chastened Alibaba tones down its Singles Day retail bonanza

Singles Day used to be the biggest, most unabashed celebration of consumerism on earth: a 24-hour online retail extravaganza, kicking off with a confetti-filled gala and culminating in stupendous piles of riches for brands, celebrity pitchmen and Alibaba, the Chinese e-commerce titan at the center of it all.

This Singles Day, an annual Nov. 11 tradition, Chinese shoppers are still likely to buy a lot of stuff. But this year’s bash is looking a little more abashed.