Singles Day – celebrated November 11th – has become a massive online retailer with more than online sales of Black…
Singles Day – celebrated November 11th – has become a massive online retailer with more than online sales of Black Friday and Cyber Monday combined.
Alibaba’s rival, Chinese e-commerce giant JD.com, generated $ 1
9 billion in an 11-day period focusing on Singles Day. Even US tech giant Amazon markets Singles Day now and sends e-mails about the Singapore holiday.
How was it so big?
In 2009, Daniel Zhang, Alibaba Group’s current CEO, launched the concept of offering discounts to consumers on Singles Day. However, the event can be tracked even earlier and assumed to have started in 1993 in Nanjing University for students as a way to celebrate being single.
Fast-scrolling until 2017: Alibaba managed a total of 256,000 transactions per second and more than 775 million packages were sent from orders generated during the 24-hour period.
This growth is partly attributable to China’s massive population of nearly 1.4 billion people, as well as the rising middle class increasingly using smartphones.
Alibaba has also taken advantage of China’s first mobile market through celebrity and host-live streaming events featured on many social media platforms and several Chinese television networks.
Last year, Alibaba took celebrities including Nicole Kidman and Pharrell Williams to help with midnight countdown to Singles Day.