What's the big deal about Singles' Day?
When emotional binge-eating doesn't cut it, retail therapy seems to be the quickest way to mend a broken heart. That seems to be the antidote Chinese e-commerce giant Alibaba Group Holding Ltd prescribes for singles in China. For the past seven years, the group has capitalised on China's quirky 'Singles' Day' celebrations—held annually on 11 November—to dish out sizeable discounts on their online shopping platforms. We're not sure if money can indeed buy happiness, but if anyone's laughing to the bank, it's Alibaba and other savvy retailers who have jumped on the Singles' Day bandwagon. Below, a look at the staggering numbers behind this one-day shopping blitz.
The day and month Singles' Day is celebrated. The succession of digits represent singletons the world over.
The year Alibaba kicked off their one-day online sales specials, where consumers get to enjoy steep discounts across various categories if their fingers are quick enough.
The amount Alibaba reaped on Singles' Day sales in 2015.
The value of transactions made within the first hour of Singles' Day when the sales blitz kicked off this morning. Alibaba projects that sales on their platforms will close at over $20 billion by the end of today.
The day Alibaba livestreams an eight-hour fashion show in Shanghai. As models dressed in garments from 50 international brands make their way down the runway, viewers will have the chance to preorder the pieces that catch their eye.
The number of international brands from 25 countries that sold their wares to Chinese shoppers on Tmall Global's Singles' Day spree last year. Over 30 million Chinese shoppers purchased imported products from them. This year, some of our favourite e-tailers (think Farfetch and MatchesFashion.com) are getting in on the game, too.
Ready to do some shopping? We've rounded up some sweet deals from five online fashion retailers. Time to drop some dough.
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