11.11 Chinese Singles Day: eCommerce Giant
How Chinese Singles Day Become a Key Player in the eCommerce World
Originated at Nanjing University in 1993, Chinese Singles Day a popular holiday among young Chinese people that celebrates their pride in being single. The date, November 11th (11/11), was chosen because the number “1” resembles an individual who is alone.
Since 1993 the holiday has become the largest offline and online shopping day in the world, with Alibaba shoppers exceeding 168.2 billion yuan (US$25.4 billion) in spending during the 2017 celebration. Rival JD.com hosts an eleven-day shopping festival as well, which garnered US$19.1 billion, bringing the Chinese total to US$44.5 billion.
During the day shoppers will be able to buy products with Huge discounts. The success of the Chinese shopping festival was so huge that many different countries started to promote this day also as a local shopping day and offering discounts for their users.
It didn’t take long for Singles Day, which started in 2009 as a “quirky” anti-Valentine’s Day shopping event, to sprint past Black Friday and Cyber Monday in sales. And since 2012, the unthinkably large shopping extravaganza has served as a point of comparison, anxiety, and education for American retailers.
The use of Mobile on the 11.11 shopping festival has played a key role and jumped from only 21% on 2012 to 90% in 2017. For example, For Cyber Monday, mobile shopping made up 64% of page views over the weekend this year, a 10% increase from 2016. In sales, mobile made up 43% of the order, which was also a year-on 10% increase.
Comments