U.S. Retailers Should Embrace Singles' Day Over Black Friday
If you thought that Black Friday was the biggest shopping day of the year, you are one of the many who have not factored in the prevalence of Singles Day. In 2016, retailers on Alibaba’s ecommerce site took in $17.8 billion in sales, compared to $3.34 billion spent online on Black Friday. But what is Singles Day?
Singles Day is exactly what it sounds like; a huge movement of people celebrating their lack of relationship status, and spoiling themselves with gifts as a result. This movement came by a massive group of people in response to Valentines Day, which celebrates just the opposite. The size of participating group is in part due to the geographic location of the consumers, which primarily focused in China. U.S Retailers have not ignored this trend either, and have/will soon find great success in this market.
As online shopping becomes a larger and larger part of the retail industry, holidays such as Singles Day, which thrives on online shopping, get their chance to grow into profound movements. Additionally, due to its date, November 11th, Singles Day gives consumers the opportunity to jump start their holiday shopping with great prices, and relieve some of the stress associated with the holiday season. Overall, if you are single, and looking to shower yourself with gifts, this may be the holiday for you.