Since 1993 people celebrate each year on 11 November. As the 11th day of the 11th month, there are lots of ones in 11 November. As there are with single people. However, what started as an occasion for single people to party with single friends and organise blind-date parties has become a major shopping holiday. The festival (currently celebrated only in China) has become the largest online shopping day in the world.
That's mostly thanks to online shopping brands focusing on offering discounts and savings to young customers, the same ones who are celebrating Singles Day.
Singles' Day falls on November 11th in China now is expected to grow sales 50% year-on-year.
"See Now, Buy Now" is the motto of the 2017 11.11 Global Shopping Festival, it is a quick round-up of all you need to know about one of the eCommerce Calendar's most important days.
Although Singles' Day has traditionally been an event driven by Alibaba, many international retailers are now leveraging the demand to drive sales on their own websites, and across territories other than China. This would indicate that revenue driven by the occasion is even higher than those reported by the Alibaba group themselves. Data show that international retailers can experience spikes of up to 800% in revenue and 1100% in number of orders on the day, highlighting the appetite of Chinese shoppers to spend across borders.
Alongside the festival itself is the Countdown Gala which has become something of a tradition in its own right. The star-studded event is designed to turn shopping into an entertainment event in and of itself.
Anyway, it's 9-hours countdown now! Are you ready to do your grocery with us?