GANDT Fireside Chat #064 | Singles’ Day 2020 and the opportunities and risks for the telco industry

Post by Kathrin Fuhrer

True to our motto “Working Out Loud”, we at GANDT Ventures exchange our thoughts and ideas on current news topics in the world of online marketing, digital retail, and e-commerce. This helps us uncover opportunities that can be used for companies and our clients as part of our daily business.

But most of all, it is a lot of fun and a great way to share knowledge.
Our podcast-style chats are available to anyone who is interested to find out more about what Google, Facebook, Amazon and the likes are up to.


Singles’ Day 2020 – the biggest online shopping day in the world

The Chinese Singles’ Day takes place on the 11th of November. Singles’ Day is the world’s biggest 24-hour online shopping event and is now considered the strongest shopping day of the year in China. Sales are even higher than on Black Friday and Cyber Monday combined.

Singles’ Day, also known as Bachelor’s Day, had nothing to do with shopping in the beginning, but originated at various universities in China and was considered by single students as a kind of anti-Valentine’s Day for single people. The date of 11.11 was chosen because of the number 1, which symbolises single people.

Restaurant owners saw their opportunity in the ever-growing Singles Day by offering special deals to attract single people into the eateries.

In 2009, the Chinese e-commerce giant and Amazon rival Alibaba discovered the day from the singles for itself and has been advertising annual discounts ever since. The idea behind it: Single people don’t have to take care of a family and should treat themselves to something on this day.

In the meantime, the days of the singles has also arrived in Germany and it is hoped that this will further boost Christmas sales. Amazon, however, still stays out of this trend and advertises with earlier Black Friday and Cyber-Monday promotions.

The sales figures are quite impressive: Alibaba expects 800 million customers this year. By Wednesday morning (12.11.2020), goods worth 56 billion dollars are said to have been sold.

Above all, a run on luxury goods is also being observed this year. Sales could therefore be even higher than last year, also because many companies are already advertising discounts days before Singles’ Day.

Listen in to Fireside Chat #064 to find out what impact Singles’ Day will have on the telecoms industry and to get best practice for your business.


Agenda | GANDT Fireside Chat Video #064

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