What is Singles Day and Why Should Your eCommerce Store Care?
Let us introduce: Singles Day. As you guessed, Singles Day is the opposite of Valentine’s Day and geared completely to those of us out there flying solo. But trust us, it’s not nearly as lonely as it sounds.
We know you have your sights set on the Black Friday weekend and general holiday season; however, Singles Day is a great opportunity for your brand to test the waters and give a fun marketing push 2 weeks before the typical holiday chaos starts.
So what is Singles Day and why should your eCommerce store care? As we expected, you might not be that familiar, but Singles Day is a recognized holiday in China. In 2015, $14.3 billion in sales were generated on Alibaba (China’s largest eCommerce platform) alone on Singles Day and 2016 is expected to see figures as high as $20 billion.
The above numbers blow Black Friday and Cyber Monday out of the water (Black Friday and Cyber Monday sales in the US reached $5.8 billion in 2015). This gargantuan figure breaks down to 1 in every 12 residents of China purchasing an item off of Alibaba last Singles Day!
(Fun fact: China’s population is about 1.4 billion…)
While your market may not be in China, many US and European companies are participating in Singles Day this year. With Whole Foods, Costco, Macy’s, and Target jumping on board, you can be sure others will be quick to follow and 2016 will see an emergence of non-Chinese companies capitalizing on this big spending day.
Much like Black Friday and Cyber Monday, Singles Day is driven by sharp discounts and promotions across a store’s product line. As a brand breaking into this holiday, it’s the perfect opportunity to test some of your holiday marketing strategies during the first half of November.
So what is Singles Day and why should your eCommerce store care? Simply, it’s one of the biggest spending days online all year and with a push from American based companies, you can expect that it is only going to grow outside of China in the years to come.
So…get out there and be a trendsetter!
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