Single and ready to mingle: Single’s Day, the new blockbuster shopping day

First came Black Friday, shortly followed by Cyber Monday - now, the latest international shopping day to make an impact on retailer's sales targets is Single's Day. Although you may not be familiar with this day yet, it's likely you will be soon - it generates more revenue than the aforementioned shopping days combined.

The rise of Single's Day

Beginning as a day (11th November) to celebrate singledom, it's now a hugely popular shopping day across Asia. To put its popularity into context, in China in 2017, more products were sold during the 24-hour period compared to the four-day Black Friday to Cyber Monday period. It was four times larger than Black Friday, with an incredible $1bn being spent in just the first two minutes after midnight.

While it's suspected the day was started by a group of single university students, who chose the 11th November date due to its group of single ones, Ali Baba has very much been the driving force behind the phenomenon. The company saw sales increase by 56% in the last three months of 2017, boosted by a record breaking Single's Day in 2017. Ali Baba has turned the day into something of a spectacle, with celebrities (including David and Victoria Beckham) taking part in a gala event and Ali Baba founder Jack Ma breaking into song. With Ali Baba shares doubling in 2017, Jack most certainly has something to sing about. 

What does this all mean for retailers?

Search volume for this date in the UK is still dwarfed by volumes seen in Asian markets. However, there's always an opportunity to make the most of the day as popularity grows. One key benefit of the day in the UK is that there's far less competition in terms of promotions and those all-important CPCs as a result. Offers and ad copy on the day will help to drive higher CTRs and increase conversion volume for those consumers in the know and seeking out Single's Day offers. A recent study by Facebook noted that '11% of holiday shoppers in Turkey and 10% of holiday shoppers in Spain and Brazil' actively shopped on Single's Day in 2017, with numbers increasing in the UK.

While not a major day in the UK yet (or most countries outside of Asia for that matter), popularity is certainly growing, meaning it'll most likely be another core retail day in our marketing calendars before we know it. 

 

 

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