China's Single's Day sales were three times more than the US's Cyber Monday and Black Friday combined in 2015! Let that sink in for a moment...
Its not going anywhere either. Thanks to the relics of China's one child policy, there will be 30 million more men than women in China by 2020. Single's Day is here to stay!
Chinese eCommerce giant Alibaba just made 14 Billion Dollars in 24 hours! It's rivalry with JingDong on the day fuels massive discounts - a big win for Chinese consumers. Delivery men around China struggle, some delivering over 150 parcels in a single day, and working between 5 am and Midnight.
Single's Day sales are expected to top 20 billion in 2016, surpassing Valentines Day in the US for the first time.
So what IS Single's Day and when did it start?
It started in 93 by Students of Nanjing University, and snowballed into a national and then international phenomenon. Aligning with the Chinese love for numerology, the 4 number 1s in 11/11 are chosen to celebrate single hood.
How did eCommerce explode for Singles Day?
Alibaba sites and its run of deals during the period have been a major driver of eCommerce ramping up over the years. Estimated sales in Alibaba's sites Tmall and Taobao are at US$5.8 billion in 2013, US$9.3 billion in 2014, and over US$14.3 billion in 2015.
What are the other largest GLOBAL ecommerce shopping Days of the Year?
A recent Paypal survey found up to 75% of Indian consumers intend to shop online to avoid crowds and buy from home.
- Christmas, especially Nov 25 to Dec 18
Santa traded in that workshop and sleigh for a nice Dell XPS laptop and Paypal account!
- Chinese New Year
The weeks leading up to the Chinese New Year are a heavy shopping season in China, and online shopping escalates as a greater percentage of commerce moves online.
- Japan’s Bonus Season
Japan always projects higher consumer spending in months when summer bonuses are given out. 90-five per cent of Japan's residents surveyed in 2012 said they expected to receive a bonus that summer.
- Back to School Season
This is a big time for consumer electronic and other general supplies, especially in western countries like the US.