What is Singles day?
November 11, also known as Singles’ Day is the largest shopping day int he WORLD.
Double 11 falls on Nov. 11 because the four 1s in the date resembles a bare stick, which in a slang for an unmarried man ho does not add “branches” to the family tree. It’s a celebration for singles.
It began in China as a joke holiday created leading up to the day, weeks or even up to one month ago, consumers begin to fill their shopping card just to check out at midnight.
As the world’s largest shopping day, let’s take a look at some statistics and trends.
STATISTICS
Sales
This year, a steady growth in consumption continues. Alibaba reached 540.3 billion yuan ($84.54 billion USD) in sales while JD reached 349.1 billion yuan ($54.70 billion USD).
New generations of consumers
Younger generation of consumers are becoming stronger in consumption power which in return drives growth further in digital economy. +40% of new generation consumers contributed to the online consumption this year.
TRENDS
Now, Singles day is no long just a day of shopping, it is also a battle in the digital world – an involution of traffic and live broadcast. Consumers instead of discounts are looking for new experiences in a more interactive and engaging way.
Live streaming
As live streaming becoming one of the major source of sales in China, brands began generating more immersive brand experiences – brands are competing through live streaming by paying big influencers, celebrities to produce extremely long live streams, as long as 24hr non-stop broadcasting with surprise features of celebrities or exclusive gifts/coupons/experiences at random times.
Metaverse!!
Creativity, using marvellous ways to generate curiosity and attention is now a major strategy. Discounts and sales are now seen as basic and standard. This year, one of the most hyped event was the release of Metaverse. A creative team released a new “Metaverse KOL” through Douyin with incredible storyline and effect while focusing on costmetics. Liu yeh shi, the now incredibly famous virtual metaverse KOL reached 100k followers within 6 hours, with over 40million views. Consumers began asking about the lipstick used on this virtual character while looking forward to future episode published on Douyin Tiktok.
