Celebrity
Singles Day 11/11
Singles' Day 11-11
Nov. 11
Singles Day — also known as Double 11 — takes place on Nov. 11 in China and is widely believed to have begun in the 1990s in universities as men celebrated being single. In 2009, Chinese e-commerce giant Alibaba launched the first shopping event on that day, offering heavy discounts on its Tmall shopping platform.
Alibaba said on Monday its gross merchandise volume or GMV for the whole event came in at 268.4 billion yuan ($38.4 billion) , up 26% from last year and above Citic Securities’ forecasts for a 20-25% expansion. In 2018, it posted a 27% sales increase.
While its total gross merchandise value (GMV) over the Singles Day event last year, which spanned 11-days, totaled 498.2 billion yuan or $74.1 billion. That beat last year’s 268.4 billion yuan figure.
This e-commerce phenomenon has come to stay and gradually filtered into the global e-commerce spending season. Which makes it perfect as November and December are both months of E-commerce/ retail seasons. 11/11 which started as an online shopping memorial, has overwhelmingly spread to all industries from service based industry to Brick & Mortar Retailers in China and other part of the world. It’s a day shoppers get to see unbelievable prices .
Expected Revenue for 2021 Singles day from my forecast shall exceed it’s previous debut and go to reach another milestone of 798.2 billion Yuan.
It is not a day for unmarried people only, Singles day is a day married couples are entitled to buy themselves anything of their craving without any element of guilt.
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