China’s Single’s Day, November 11 or Double 11, is the biggest shopping spree of the world. Alibaba (the worlds’ largest retail company) on Sunday tore through last year’s Singles Day sales record, racking up more than $30.8 billion in the 24-hour shopping event
November 11th started to be recognized as a very special day in China, way back in 1993. This date was chosen to be a fun day on Chinese university campuses and people celebrated being single. The date November 11 was chosen because it consists of four ones: 11/11.
After 16 years down the line, in 2009, Alibaba adopted Singles’ Day.
This day was used to invite Chinese consumers to purchase gifts for themselves, somewhat in the spirit of the Valentine’s Day concept; only, this was for single people! The idea was to treat yourself by buying something you like. Today, this festival has grown to be the world’s largest 24-hour online shopping festival.
Some Single Day Facts
Here are some intresting facts about the festival:
• The Double 11 festival exceeds the Amazon Prime Day 18 times over, in terms of sales volume.
• It’s also two and a half times bigger than both, Black Friday & Cyber Monday combined.
• The festival has come a long way over the years. What was one just a 24-hour sales is now a stupendous, 24-day global shopping & entertainment festival of gigantic proportions.
• It sold over $25 billion of products on the biggest online shopping date in China.
• Alibaba handled 1.48B transactions all told, during the 24-hour period.
• Over 140,000 different brands (including 60,000 global ones), participated on Tmall.
• These brands cumulatively offered 15M product listings at the festival.
• According to the mainland press, the total number of parcels dispatched on the biggest Double 11 festival day was a mind-boggling 1.38B, which was equivalent to China’s population.
• 167 merchants at the festival generated over $15.1M in sales each.
• 17 merchants exceeded $75.4M each.
• Six merchants exceeded $150.9M each.
• Others notable online retailers such as Amazon, Suning, and JD are also participants now which adds even more power to the festival.
• The largest coupons & discounts offered during the festival takes place on Nov. 11th and this day is the highlight of the Double 11 festival.
Store managers for the Taobao and Tmall marketplaces typically kick-start their marketing campaigns by late October. Many stores continue to offer smaller offers and discounts throughout November.
This festival is a global festival, launched with the objective of pushing its reach to key markets across the globe. The massive success of the Double 11 festival was the catalyst that helped launch the Double 12 festival in the year 2011. This event was similar to the former but primarily focused on small merchants.
The Double 12 Festival- Salient Features
Double 12, held on December 12, was created especially for smaller online vendors that don’t have a presence in the 11.11 festival because they primarily sell niche, low-demand products. These vendors don’t have sufficient manpower to handle massive sales volumes either.
• Alipay, China’s Ant Financial Services Group’s mobile payments arm teamed up with strategic partners and launched the “Double 12” international festival, held on December 12.
• This year, the event is set to take place in 15 markets throughout four continents.
• The concept behind the event is to develop Alipay in the international space, while also developing and encouraging localised service offerings.
Why This E-Commerce Carnival Is So Popular
Customers receive the best prices and the festival offers free shipping to customers from 10 countries outside of China. Celebrities conduct promotional events and numerous online influences also hold live streaming during these events.
This attracts a large number of fans that take photos and post them on social media. Sales have hit new and impressive records every single year for the past eight years that the festival is being held.
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