An increasing amount of online retailers are urging customers to get involved with ‘Singles Day’.
The concept, which encourages people to buy presents for their single friends on November 11th, was developed in China in the 1990s and is catching on fast.
Just as many retailers do for ‘Cyber Monday’ in the United States, a vast number of online retailers in China offer customers huge discounts to their customers in order to encourage online payment. In fact, The Associated Press reports that it has consistently become the busiest day for online shopping in China for some distance.
Alibaba, one of China’s leading online retailers, received the equivalent of $3 billion dollars through its websites within 24 hours. It also had 10 million visitors per minute to its various websites – and that’s just one of many success stories coming out of China.
The Chinese chose November 11th as ‘Singles Day’ because the numerical date 11/11 represents four singles. Warc.com has predicted that online spend on this day will only get bigger as time goes on. Only 39 per cent of the nation is currently connected to the internet, meaning there is plenty of room for the country’s e-commerce market to grow.