11.11 Shopping Festival or known as “Singles Day” in China is going in history. Why? Because the mega-giant shop Alibaba has motivated the single people to celebrate this day by buying products for themselves. With the huge selection of products and extremely low prices, there was no need for Alibaba to make a pressure – the people were buying like crazy.
Singles Day Sale on Alibaba – All You Need to Know
With the world-known basketball star Kobe Bryant promoting and televised by Hollywood producer David Hill (popular for his world on the NFL Super Bowls, Oscars, and American Idol) the event goal’s was to capture world’s attention and present the vision of Alibaba for the future of e-commerce and retail.
The result – In only 24 hours, the Chinese shoppers spent approximately $17.7 billion on the shipping website. Alibaba’s goal was $20, however, this is a big accomplishment as well. They’ve managed to surpass the record from last year’s sale or $14.3 billion.
And this is not all, according to Shanghai Daily reports, in the first seven minutes, the Chinese shoppers spent more than $1.5 billion which is another record. As it seems, Alibaba never stops to surprise us!
So, let’s check the numbers, last year on Black Friday and Thanksgiving Day, Americans online shoppers spent more than $4.45 billion and $12 billion at the traditional or brick and mortar stores, according to Adobe. The popular Cyber Monday online sales were about $3 billion, according to CNBC.
Singles Day was first presented and celebrated in the 90s or 1990 more specifically. It was presented as an Anti-Valentine’s Day. Alibaba began to use this holiday in 2009, in order to promote sales and discounts at retailers on the website. The point was to increase revenue in the commonly quiet sales period before New Year and Holiday season.
Surprisingly, the attention of the international brands was attracted by this move from Alibaba, and more than 14.000 took part in the 2016 sale, calculating for about 30% of the total GMV half-way into the event, according to the statistics of Alibaba. The orders came from 207 different countries and regions.
According to Alibaba, the deals presented by Nike, Apple, and Siemens were among the top-sellers in the early hours of the day. The Local Chinese brands like smartphone maker Meizu and appliance manufacturers Midea and Haier made a powerful showing as well.
We can say that Alibaba worked really hard to make the Singles day international sale holiday, especially with the countdown gala, and the appearance from NBA star Kobe Bryant, the popular footballer David Beckham with his wife Victoria, and the US pop band OneRepublic. The founder of the Alibaba Group, Jack Ma performed a magic trick during the gala and the Alibaba Picture’s film production was also presented.
This e-commerce event is expected to be global in the years ahead, according to the experts. Last year, Jack Ma announced that their focus is on helping small businesses and assisting them do business in the most productive way possible! We cannot wait to see what Alibaba has planned for us.