What is Singles’ Day?
Nov. 11 is celebrated as the day of Singles in China. It was started to celebrate the status of being single and later on also celebrated to cherish the relationships. In 2009 Alibaba launched an online 24hrs shopping festival on this day, especially to attract young Chinese customers. And since then this Singles’ Day shopping festival is becoming bigger and bigger. And now it has become the world’s biggest shopping festival. It was renamed as “11.11 Global Shopping Festival” in 2015.
Chinese e-commerce giant, Alibaba made record-breaking sales of $38.3 billion on this year’s Singles’ Day shopping festival on Nov.11. In the first 68 seconds, the company made sales of $1billion and in half an hour, it reached $10 billion.
How the company manages online rush?
To manage the rush, the company maintains multiple dedicated websites. Like its B2C online retail portal Tmall sells Chinese brands’ goods to people in China. Lazada, a subsidiary of Alibaba Group manages Southeast Asian markets. Customers of 225 countries attracted to this high-tech online shopping festival. The company also celebrates the festival in its offline retail segment through its various physical stores.
Big Billion days are quiet smaller…
Singles’ Day shopping bonanza is around 13 times bigger than India’s this year’s total festive sales made by Amazon and Flipkart put together. It is also around 2.5 times bigger than Black Friday and Cyber Monday sales in the U.S.