Published: Sat, November 11, 2017
Global | By Shelia Dennis

Japanese companies stoked for China's Singles Day

Japanese companies stoked for China's Singles Day

In fact, it's not even close.

If you're not excited about Singles Day, we're here to tell you why you should be.

Today is Friday, the 10th of November. With the 24-hour event last year, consumers purchased $17.8 billion in merchandise, up 24% from a year ago.

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"Using past growth figures, Hylink have predicted that Singles' Day is expected to generate over US$21 billion in sales this year".

It took Alibaba's customers just 2 minutes and 1 second to buy $1 billion worth of stuff during the holiday, which starts at the midnight before November, 11 (11/11.) In the first hour, Alibaba processed 325,000 orders per second and more than 60 brands recorded sales of more than $15 million, the company said in an emailed statement.

This festival has become the largest online shopping day in the world, with Alibaba's sales at US$ 5.8 billion in 2013, US$ 9.3 billion in 2014, US$ 14.3 billion in 2015 and over US$ 17.8 billion previous year. With more worldwide brands participating in the holiday with deals, sales could be much higher than previous year, according to Squali.

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The massive, promotion-driven shopping event in China that drives the biggest one-day online sales in the world, is not the natural setting for high-end luxury brands - so e-commerce marketplace Alibaba made a place for them.

Singles Day is a holiday in China, in which unmarried men and women celebrate their single lifestyle. For comparison, Alibaba shoppers spent $1 billion in the first 5 minutes of Single's Day past year. JD.com has partnered with Tencent and Baidu to attract as many shoppers to its platform as possible.

Alibaba is up 110% this year.

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