Though occurring approximately three weeks before the American Cyber Monday, it would seem that revenue generated during China’s Singles Day is actually beginning to outnumber that which Cyber Monday generates. But will this have an effect on the rest of the world?
Celebrated yearly on November 11th, Single’s Day is essentially China’s version of Valentine’s Day but –you guessed it– just for the single people out there. Since numerology is highly revered in China, the numbers to which Single’s Day falls on the calendar also has tremendous significance: 11.11, with the number one chosen to refer to a single person.
Turns out that Single’s Day actually started out as a joke at numerous Nanjing universities in the 1990s as an anti-movement to the much popular Valentine’s Day. Though it was initially a time for single individuals to party and spend time with other single friends.
Connection To Cyber Monday
Amidst all the partying, Single’s Day also turned into a massive shopping event, with retailers waiting in anticipation for the big day to launch new online promotions.
The fact that there is even talk of Single’s Day as overpowering Cyber Monday is evidence enough of its largeness, especially when taking into consideration that on average Chinese income accounts for one-seventh that of the American ones.
Numbers actually demonstrate that 2017 Single’s Day has already dwarfed last year’s Cyber Monday recorded sales as being nearly twice bigger: with an estimated $5 billion (USD) for Single’s Day compared to the $2.3 billion (USD) specialists estimate will be spent on this year’s Cyber Monday.
As such, it would come as no surprise if retailers begin taking advantage of the idea of targeting singles during a specific time of the year since it is of course much easier to buy for oneself than it is for others. There is even a major chance of this Chinese holiday making its way on North American and other calendars as an increasing number of retailers have already begun catering to it.
Share with us your thoughts on the matter. Do you think China’s Singles Day will soon be a major shopping event on Canadian calendars?