Single’s Day is rated as the world’s greatest e-commerce day, when steep, unbelievable discounts drive heavy sales of several international and local brands across the world. It is also called 11.11 or ‘bare sticks’ holiday. This is because it is celebrated every 11th of November (the 11th Month of the year) and the the two dates – 11.11 – look like bare sticks representing single people. Sounds hilarious but it is a very big e-commerce festival which you might want to miss. Find out Why. It is an online shopping event traditional in China but since grown into a global event. China’s – and the world’s – biggest online shopping event is about to take place on 11 November.
Known as Singles’ Day, Alibaba and its founder, Jack Ma, transformed the de facto holiday from an ‘anti-Valentine’s Day’ for Chinese singletons to a global shopping festival back in 2009 – and made billions of dollars in the process.
Chinese shops and consumers are warming up. Endless advertisements through social media are bombarding smartphones and commercial events are being organized all over the country.
Alibaba hit $17.8 billion in sales on 11.11 2016, and 2017 is expected to blow through that number. This single day figure is higher than the annual e-commerce sales of the whole of Brazil. Alibaba says 140,000 brands, some 60,000 of them international labels, will offer up over 15 million product listings this year. Prediction: Jack Ma’s Tmall will come close to hitting $1 billion an hour in sales, making Alibaba the biggest retail machine in the world.
Special side effects are organized by some companies to increase brand visibility and boost sales. One of such events is single’s day e-commerce carnival which involves online quizes and gifts for people that dial in. Some companies give up to 50% discount on some products. So it is not just for singles, anyone can capitalize on this opportunity and get the best products online.
For fresh produce retailers and fruit growers, Single’s Day provides excellent opportunity to boost autumn sales. Year on year, new initiatives are launched to catch on to this trend, from fruit specially ripened to be available on the day, special packaging.
Supafresh has made special deals with retailers to promote their imported and ready-to-eat fruits on the Saturday. Nathan of Supafresh explains: “This year, we work with JD.com and Tmall.com. We supply them with avocado, orange and conference pear. For the avocado, the volume is quite big, a number of containers in total. And we promote the ripened avocado, packed with 3 pieces in 2-3 different maturity.”
See some basic facts about Single’s Day you should know;
How did it start?
Singles’ Day, also known as ‘bare sticks holiday,’ started in 1993 at Nanjing University as a day for students to celebrate their singledom. The date 11:11 was chosen as it resembles 4 solitary bare sticks.
What is it about?
Single’s Day is an annual event which kicks off on the midnight of 11 November and runs for 24 hours. It features steep discounts that are driven by the main Alibaba-owned platform, Tmall. Essentially, think of it as the Asian version of America’s Black Friday and Cyber Monday shopping sales – but bigger than the two combined.
This year, Alibaba says over 15 million products from more than 140,000 brands, including 60,000 international brands, will be offering discounts on Tmall – up from 100,000 last year. Besides the e-commerce giant, other platforms like JD.com have become a key competitor and will be pushing equally hard to attract shoppers.
How much is spent?
In terms of sales, Singles’ Day is known for racking up record numbers – more so than Black Friday, Cyber Monday or Amazon Prime Day sales. In 2016, Alibaba made a staggering $17.8 billion ($5 billion in the first hour alone) and intends to break that record this year.
Now that you know what Single’s Day is about you should make plans to get the best of it. The online line community is the next best place to catch business fun. Find a way to join the rest of the world to benefit from this year’s Single’s Day.
(With reports from Forbes)