Need a little light relief from recent global events?
Thank goodness for China’s ‘Black Friday’ and ‘Cyber Monday’ all rolled into one. It’s more commonly known as ‘Singles Day’…..
….Or as we like to call it:- a genius-marketing ploy by China’s golden entrepreneur Jack Ma, who has completely transformed an anti-Valentine’s sentiment into a commercial frenzy.
But, if like me you’re wondering what sex has to do with shopping and whether you really do need to ditch the spouse just to enjoy some online consumerism, this blog is for you!
Firstly, make a note in next year’s calendar – because Single’s Day falls every year on 11th November. It’s known as ‘bare sticks holiday’ because of how the date looks when written as numbers: 11.11. And yes, the internet really did go wild on 11.11.11, dubbed Singles Day of the Century.
It all started out as a celebration for the singletons of China before Jack Ma, former English teacher and founder of the Alibaba, the world’s largest retailer, spotted an unprecedented commercial opportunity.
Since 2009, he’s gradually turned it into an event generating the highest online sales by one company in 24 hours, as certified by the Guinness Book of Records. Last year, revenue was a whopping US$14b, up from US$9.3b the previous year and it is predicted that today’s shopping spree will smash these records again. Unsurprisingly perhaps, it has helped to turn Jack Ma into one of China’s richest men.
Forget Singles Day for a second… Alibaba’s phenomenal success probably merits a crash course in the company itself.
First – if you don’t use Alibaba, ask yourself how you purchase online … through marketplaces like Ebay? Or Amazon?
Alibaba sells more than those two e-commerce outlets combined.
Repeat: it’s the world’s largest retailer, even bigger than US Giant Walmart.
And how do you securely pay for things online… Paypal?
Alibaba has its own device called Alipay. It’s China’s largest third-party payment platform, with 400 million users and 80 million transactions per day, compared with Paypal’s 9 million.
Combine them all and you have the strength of Alibaba.
And Singles Day is the biggest event in Alibaba’s calendar.
The China Icons take on all this….. You don’t need to be single to enjoy this event… but it does help not to have the distraction of a partner whilst you’re trying to shop!
And if all this Singles Day talk is getting you down, we’ve got a perfect and unique idea on how to woo your love interest.