On November 11 (all ones, 11/11, get it?), singles browse for bargains and shop (usually online, increasingly via mobile). And shop. And shop.
Alibaba--by far the world's largest e-commerce business, with wholesale and retail sites for shoppers in China and beyond--has helped fuel this shopping extravaganza. In 2009, it introduced an array of Singles Day shoppers' specials on its various sites. The promotions were so successful that Alibaba eventually trademarked 'double eleven' and continued to expand the scope of its marketing.
In 2014, Alibaba's marketing for Singles Day began during October, with preorders at special prices. Once again, the company's extensive reach and promotional clout paid off: It recorded one-day sales of £5.9 billion on Singles Day, a hefty increase over the 2013 results. Alibaba is already looking ahead to even better results in 2015 as Chinese consumers exercise their buying power via mobile devices.
Alibaba's complex network of marketplaces is designed, the company explains, as a business ecosystem with a specific purpose:
We operate an ecosystem where all participants – consumers, merchants, third-party service providers and others – have an opportunity to prosper.
