Most retailers can only dream about the success of an event such as China’s Alibaba’s annual November 11 sale day. This day was wholly created by the online retailer as a time to have fun shopping — in essence, a holiday for shopping.
As reported by Shanshan Wang and Eric Pfanner for the New York Times:
“Alibaba, which owns Tmall and other E-commerce sites, first latched onto so-called Singles’ Day, symbolized by the four lonely 1s of 11/11, five years ago. The company realized men could easily seek solace by buying electronic devices and other gear on its sites. Today, like Veterans Day sales in the United States, Singles’ Day promotions retain little connection with the people or events that inspired it. As a red letter day for shoppers, it has spread to Chinese consumers of all kinds — single or married.”
“On Monday, China’s biggest online shopping company processed more than $5.75 billion in its online payments system — a record for a single day anywhere in the world, surpassing by two-and-a-half times the total for American retailers last year on so-called Cyber Monday. Alibaba reported that it had 402 million unique visitors to its sites — more than a third of the adult population in China — and prepared 152 million parcels for shipping.”
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Image by Qilai Shen for the New York Times