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Singles Day is a huge promotional deal in China. How big you ask? Imagine Black Friday in the US and then triple it. In its first five minutes, Alibaba has already racked up more than $1 billion in sales and more than $5.2 billion in the first hour, more than$7 billion after just two hours, with than 84% of sales on mobile devices. Now, halfway through the promotion, sales have passed $12 billion.
2015 Singles Day sales were $14.3 billion in China for one day alone. compared with a $5.8 billion in US Black Friday/Cyber Monday sales. Impressive, for a promotion started by Alibaba in 2009. Here’s what’s planned, projected by the leading e-commerce companies for November 11 and a couple of early returns.
Singles Day has turned into a huge “Retailtainment“, three-week event complete with international celebrities and sales at Alibaba alone are expected to grow by 40% and exceed $20 billion. Launching Singles Day this year in Shenzhen for Alibaba were NBA superstar Kobe Bryant and super-celebrities David and Victoria Beckham after Lady Gaga canceled citing post-US election blues.
Alibaba,JD.com, Baidu, Amazon, Tencent and other e-commerce leaders received warnings from the Chinese government about past Singles Day consumer complaints of counterfeiting, delivery of damaged products, falsification of facts and other fraudulent behavior.
Rivals JD.com and Alibaba traded insults ahead of the extra-competitive Singles Day sales event. JD.comreported 14 million sales last year but did not disclose dollar value. This year, JD.com is partnering withWalmart and promoting sales in advance of November 11 as well as during the sales promotion. Both JD.com and Alibaba are hoping the addition of tens of thousands of international brands will push sales higher. By the time you read this post with your coffee this morning in North America, Singles Day will be over in China and we’ll have updates on our Twitter feed and in-depth sales analysis next week....
Alibaba has already racked up more than $1 billion in sales and more than $5.2 billion in the first hour with more than 84% of sales on mobile devices. 2015 Singles Day sales were $14.3 billion in China for one day alone.