Tuesday, 20 November 2012

Singles Day boosts online shopping in China

More than a decade ago, college students in China decided to start a new tradition of celebrating Singles Day on 11 November (you know, 1111--four singles). The idea was to give gifts to good friends in the hopes of helping romance blossom.


Now Singles Day has become perhaps the busiest cyber-shopping day in China. Alibaba (one of the country's most popular e-commerce sites) received orders for more than £ 1 billion worth of goods in just the first 13 hours of this year's Singles Day. By the end of the day, total purchasing was reportedly even higher than on Cyber Monday in the US.

Smaller online merchants such as Seventh Princess (photo above) saw significant sales increases, as well. Online travel companies promoted special savings, and retailers with store locations also offered special deals to attract buyers. And of course, delivery services had to be ready to put all those packages into the hands of recipients, another major plus for the day's economic activity.