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Single’s Day - Global Shopping Event
Source: | Author:myasny | Published time: 2021-11-10 | 137 Views | Share:

The Singles' Day (simplified Chinese: 光棍节; traditional Chinese: 光棍節) or Double 11 (Chinese: 11), originally called Bachelors' Day, is a Chinese unofficial holiday and shopping season that celebrates people who are not in relationships. The date, 11 November (11/11), was chosen because the numeral 1 resembles a bare stick (Chinese: 光棍; pinyin: guānggùn), which is Chinese Internet slang for an unmarried man who does not add 'branches' to the family tree. The four '1's also abstractly refer to the demographic group of single people.

 

The holiday Double 11 has become the largest physical retail and online shopping day in the world, which is a global shopping event initiated by Alibaba and adopted by other e-commerce platforms and retailers. Consumers can expect the largest discount of the year during Double 11 while businesses expect a significant portion of annual revenues from this shopping festival sales.

 

Alibaba shoppers exceeded 213.5 billion yuan (USD $30.7 billion) in total spend during 2018 Singles Day. Rivals such as JD.com hosts Singles' Day festival as well, which garnered USD $19.1 billion, bringing the Chinese total to USD $44.5 billion total sales volume in 2017. In 2019, Alibaba said that its gross merchandise volume for the whole event came in at 268.4 billion yuan (USD $38.4 billion), an increase of 26% from the previous year. In 2020, Tmalls total sales exceeded 498.2 billion RMB, a 26% growth from last year, breaking the record again and maintaining its position as the top 1 e-commerce platform. JingDong (JD) came as the second, whose total amount of orders was 271.5 billion RMB, a 32% growth from last year. Other e-commerce platforms in China, such as PinDuoDuo and Suning, also have released astonishing sales figures. According to Sunings report, its online orders had a 75% growth during from Double 11 2019.

 

2021 is Alibabas 13th annual Double Eleven shopping festival in China with an emphasis on sustainability and inclusiveness. This year marks the largest Double 11 Festival to date, with a record 290,000 brands participating. Alibaba Tmall is offering more than 14 million deals to over 900 million consumers in China. Double 11 2021 will once again have two sales windows the first will be from November 1 to 3, and the second will be on November 11, on the day of the main event.

 

Livestreaming will be a key consumer engagement mechanism for brands and merchants to build awareness and drive sales. Starting on October 20 throughout the Festival, Taobao Live will feature 700 leading KOLs, celebrities and brand representatives in livestream sessions.

 

In addition, Taobao will roll out a new feature for users to share their “shopping cart” items with friends and family, creating a more social shopping experience. It offers voice-assisted technology, simplified navigation, larger font size and icons. The app homepage also offers games for elderly users to unlock special discounts for groceries, making the experience more engaging for the silver generation.

 

Though recent COVID-19 outbreaks have damped certain consumer activities across the country, the early start of the annual shopping spree, which usually falls on November 11, highlighted Chinese consumer's solid spending power and offered much needed boost to consumption, a main growth driver.  

 

The largest online sales event in China, has got off to a solid start with consumers showing great enthusiasm, e-commerce platforms reporting robust initial sales and railway authorities moving to dispatch high-speed trains to transport goods. Analysts are expecting new record sales this year. 


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