Happy Single’s Day!!!
You might be wondering, is this any online dating marketing campaign? No, the 11th of November is Single Day in China because of the 4 number ones – we all know how superstitious Chinese people are –. And it is one of the most important days in the Middle Kingdom.
Not because there are a lot of single people bee around like insects looking for the perfect soul mate, but because it is Chinese Black Friday. That is, the biggest online sales day you can find in China – needless to say that now is the biggest in the World too –. Everybody gets ready for this special occasion; buyers prepare their credit cards and online accounts and companies make sure that they have enough stock to meet the demand.
Traditionally, during this day, young people organize parties and karaoke events in order to meet more people and look for their possible future partner. With the advance of technology, promotions started for those items that singles usually use, especially electronics (e.g. consoles). Thanks to the popularity it got, it extended to other products. Nowadays any shop can participate in the 11.11 – you can also buy grocery and even toilet paper! –. And this year Alibaba will involve a mega-sale having consumers, retailers and merchants around the World.
Companies make up to 30% of their annual sales only the 11th.
With time, it has become the largest online sales in the World. Tmall and Taobao (The most famous online shops) sold a total of 9.3 billion USD in revenues in 2014.
So if any of you would like to enter in the Chinese market, you should seriously consider e-Commerce as a way of gaining and retaining customers. It is a highly competitive market but if you do it well, your benefits margin will be sky-high.
Happy single day to all of you! Don’t forget to celebrate it with a great party.