Singles’ Day, or “Worlds Shopping Day”, marks the start of the November shopping season, followed by Thanksgiving, Black Friday, and Cyber Monday. Shoppers from all across the globe participate in this purchasing craze, with a drastically growing number of consumers getting their shopping done online rather than at a brick & mortar store, at a staggering 16% vs. only 2% annual increase last year in the US alone, respectively. They wait anxiously all year long to finally get that brand new TV or car, so much that they stand in line outside these shops hours before the doors open and once they do, all hell breaks loose. Others just use this time to get their holiday shopping done for a better price than they would normally find it for. Whatever the reason may be, popular retailers offer huge discounts that are just too hard to resist.
In fact, e-commerce shopping has gotten so big, that Singles’ Day, the Chinese equivalent of Black Friday, has been growing exponentially year after year with revenues starting in the mere millions in 2009, the year of its inception, to exceeding $54 billion USD in sales in 2018. It is currently the largest shopping day in the world, during which Asian sites like Alibaba and JD.com are leading the day’s online marketplace.
