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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
01:25 - Singles' Day 2020
10:55 The discount battle in the telecommunications industry
16:48 Black Friday Tips
19:11 Seasonal tips for your business