If you have been waiting for a day that you will get to enjoy massive discounts on some of the favorite items in your wish list, your wish is about to be granted. Singles’ day is less than three months away, and since the inception of the shopping festival over a decade ago, 11.11 has grown in popularity with some past Singles’ Day events recording more sales than some shopping events in the United States. If you don’t know much about this date, check below for some facts about it.
- College students created the Singles’ Day holiday
For male students at Nanjing University started the holiday in 1993 as a day to put an end to the trend of being single. It was a sort of celebration of their (single) relationship status.
- The Shopping Festival started in 2009
In 2009, precisely on 11.11, November 11, Alibaba pioneered the first Single’s Day massive shopping discounts. Sales of about 50 million Yuan was recorded (about $7 million).
- Singles’ Day shopping is mainly online
Many Asian e-commerce companies have also participated in the Singles’ Day sales by launching their own Singles’ Day discounts. These companies market these online shopping discounts through a variety of methods to further get people to shop. 11.11 sales volume is usually larger than that of Thanksgiving, Black Friday, and Cyber Monday. In 2019 alone, more than 180,000 brands had their products on sales, and in 24 hours, sales of $30.8 billion were recorded compared to Thanksgiving, Black Friday, and Cyber Monday sales that totaled only $16.4 billion of sales.
- It is gradually becoming a global event
Since its inception in Asia, e-commerce companies outside Asia have started adopting Singles’ Day and are therefore launching campaigns of their own. 2020 looks to be that year of wider adoption. Make sure you are on the lookout.