This is Singles Day
Singles Day is a shopping phenomenon that originated among young people in China. It's a shopping day full of TV shows featuring world-class stars, all dedicated to this day. Singles day has now become bigger than both Black Friday and Cyber Monday.
The big drive behind Singles Day is the Chinese e-commerce group, the Alibaba Group. The group has more than 40 000 e-commerce shops connected to its trading platform. In 2017, together they made sales of 25,3 billion dollars during Singles Day, which can be compared to approximately 5 million during Black Friday that same year in the US.
The figures can be compared to the same date in 2016 when the turnover instead was 17,8 billion dollars on Singles Day, and 3,34 billion dollars on Black Friday. Hence, in one year, sales increased with close to 40 and 48,4 per cent respectively.
It’s been a huge development from what started on 11 November in the 90’s as a tribute to singles in Chinese student circles. The event has rapidly spread in China in recent years, and today it’s the largest shopping day in the world.
Singles Day hasn’t been established in the UK – just yet
If you’ve never heard of, or seen anything to do with Singles Day in the UK, you’re not alone. So far, this particular shopping day has not had a major impact on the British market. However, as more British companies pay attention to Singles Day, this is about to change.
One tip is to set price alerts on the products you want to buy, and you’ll receive an email or a notification straight to your mobile phone when the prices have dropped. If you’re not satisfied with the price reductions during Singles Day, there will be more opportunities to save money on Black Friday and Cyber Monday. Never miss out when there’s a sale on your favourite gadgets.