When it comes to shopping holidays, certain days of the year probably stand out in your mind. You’ve heard of Black Friday and Cyber Monday and are probably well acquainted with the frenzy of shopping they produce as well as the massive boost retailers get from these “Shopping Holidays”.
So, would you believe that they are nowhere near being close to the biggest shopping holiday in the world? If you’re an American, you’ve probably never even heard of the day that holds the record. It’s called Singles’ Day and it happens every year on November 11th.
Basically, Singles’ Day is China’s version of Cyber Monday just much much larger! The shopping holiday is championed by China’s largest e-commerce company, Alibaba. Customers receive huge discounts on items ranging from cars to clothing for a 24-hour period online. So, why haven’t we heard about it in the USA? Blame it on our retailers!
Counting down to 11.11! Behind-the-scenes tour of how we prepare for the world's largest shopping event. This one is worth the watch! pic.twitter.com/05sn6zwGXI
— Alibaba Group (@AlibabaGroup) November 7, 2016
Turns out, retailers do not want to take the attention away from their Veteran’s Day promotions and are not exactly crazy about the idea of adding another Cyber Monday or Black Friday to their calendars.
Those two days are crucial to the retail business and they set the tone for the next year’s profit projections and so they are hesitant to do anything that could diminish the sales they normally anticipate.
Now this does not mean those very same retailers are not already participating in Singles’ Day. After all, why would they give up an opportunity to increase their sales in leaps and bounds?
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In fact, major retailers such as Walmart, Target, and Costco were a part of the shopping holiday in previous years – they just didn’t offer the discounts to customers in America. According to Alibaba, Costco alone sold $3.14 million in a single hour on Singles’ Day last year!
Profits for the shopping holiday are staggering. Altogether, Alibaba did $14.3 billion (with a B!) in sales in the 24-hour period of Singles’ Day last year. To compare, we only did $5.8 billion online on Black Friday and Cyber Monday combined!
The ‘Amazon of China’ invented a holiday called Singles’ Day — and they made $14 billion in 24 hours https://t.co/d7iRJiCxfR via @sai
— Alibaba Group (@AlibabaGroup) November 5, 2016
If you are feeling cheated on some good deals, you are not alone. Thankfully, retailers are paying notice and are starting to offer their American shoppers deals on Singles’ Day. Last year, QVC, Bloomingdales, and Michael Kors released deals on the shopping holiday and we can expect more retailers to follow suit this year so as not to be beaten by their competitors.
We've set up *3,000* sleeping bags at HQ so Aliren can sneak in a nap or two — maybe! — during #Double11. The big day is almost here… pic.twitter.com/exqpYNYiSE
— Alibaba Group (@AlibabaGroup) November 7, 2016
American retailers probably will not make a big deal out of Singles’ Day so as not to distract shoppers from the other shopping holidays, so you will just need to be on the lookout and check your favorite retail sites over the course of the next few days to see if they release any juicy deals and steals. It will definitely be worth the effort if you snag some of your most-wanted gifts for up to 70% off.
Happy shopping! And fret not if your favorite websites are silent for Singles’ Day. There are always Black Friday and Cyber Monday just around the corner with the promise of major deals!
Top Image Source: Alibaba Group
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