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Alibaba Singles Day
Even a global pandemic and geopolitical upheaval cannot dampen Chinese shoppers’ appetite for a good bargain. Two of China’s biggest e-commerce giants reported a combined 572 billion yuan ($119 billion) in online sales during the early phase of the world’s biggest shopping festival, known as Singles’ Day, yesterday.
The marketing gimmick started by Jack Ma’s Alibaba a decade ago was originally designed to encourage single people to treat themselves by shopping on 11/11 – a lucky date in China. It has grown into one of the most anticipated days on the Chinese calendar.
The buying frenzy usually kicks off at midnight, when millions of shoppers stay up late to pick up a bargain via their smartphones. In a bid to maximise sales in the toughest year for China’s economy in decades, Alibaba kicked off the promotion early with a three-day sale starting on November 1.
Source & read more AFR Courtesy Michael Smith
JD.com Singles Day
The JD.com e-commerce website sold over 200 billion yuan within minutes of the sale opening. 100 million yuan in Huawei phones were sold in 7 seconds and 100,000 computers in 10 minutes.
Big e-commerce website sales kicked off with Click Frenzy on 10 November, Singles Day sale 11 November, Black Friday on November 27 and Cyber Monday on 30 November.
Black Friday Sales hit $7.4 billion this year!