Success Ingredients behind 2019 Singles’ Day: Selling on eCommerce Platforms
已更新：2022年11月6日
Singles’ Day is celebrated on November 11 every year, initially as an ‘anti-Valentine’s” celebration invented by students at Nanjing University who intended to celebrate their singledom in the 1990s, which was then adopted by the eCommerce giant Hangzhou-based Alibaba in 2009 as an all-inclusive shopping festival for anyone, regardless of their status, to make purchases. In its first year, only 27 merchants offered discounts and consumers spent only RMB 50 million. However, when it reached 2011 with the gimmick being 11.11.11, a skyrocketing amount of some RMB 1.15 billion was spent during the day (China Daily, Nov 2011). Ever since, Singles’ Day, also known as ‘Double 11’, has captured the world’s attention being an unofficial annual 24-hour online shopping frenzy day for Alibaba to offer huge discounts across its eCommerce sites.
Reference: https://www.xsocialgroup.com/x-insights