With the current fierce trade war situation, it is necessary to increase sales based and discount days, with one customer buying more products, with a large number of customers not only in the land — a country with a population of over 1.3 billion people that has become a worldwide shopping day.
Not only Chinese but also around the world can shop on a single day, Americans, Russian, Indians, Brazil, United Kingdom, Spain … Anywhere, where you have the Internet.
The great thing here is that the cheap products at the single shopping festival are not low-quality products, but these are products but for special discounts on 11-11.
Online shoppers in China broke last year’s record by earning $ 30.8 billion in revenue on the nation’s frantic Sunday purchases every year, as tradition marks its 10th year.
The spending, which takes place on November 11 every year, has overshadowed Electronic Monday in the US for online purchases made in a single day.
This year’s total is 27% higher than a year ago. It breaks down gloomy forecasts about the world’s second-largest economy, struggling with a tariff war with the US, a stock market slump and slowing overall growth.
In this article, let’s compare a few interesting things from the two biggest shopping days in the world.
What is Singles Day?
Singles’ Day was initially started at the Nanjing University of China in 1993, as a holiday for single students. The reason students choose 11-11 is that four numbers 1 suggests four bare, lonely sticks. The original meaning of ‘Single Sticks’ Holiday.’
- Read more: Singles Day In China
What does that have to do with single people?
Astute readers will have noticed that the November 11 is written 11.11, or one-one-one-one.
Known in China as “bare sticks holiday” because of how it looks numerically, Singles Day began as an anti-Valentine’s Day in the 1990s when students at Nanjing University started celebrating their singledom.
It was then adopted by e-commerce giant Alibaba (China’s Amazon equivalent) in 2009, and it has now become a day when everyone, regardless of their single status, buys themselves gifts.
It’s also known as Bachelors’ Day because of China’s gender imbalance. The country’s one-child policy, which is brought to an end last year in favor of a two-child system, along with the cultural and economic pressures for that child to be a son, has led to a male surplus.
In 2011, official Chinese data showed that there were 20m more men than women under the age of 30. By 2020, sociologists expect that discrepancy to have widened to 35m. By 2030, it is estimated that one-in-four Chinese men in their late 30s will never have married.
What is Black Friday?
The Day After Thanksgiving (Friday) is known as Black Friday. This used to be unofficially or officially the start of the holiday shopping season. Almost all stores come out with Doorbuster Sales with the early bird special to attract consumers to their shop. People stand in line hours before the stores are opened, to grab the bargains of the year. In the last few years, we have witnessed a trend towards bringing those Black Friday Sales online before Friday.
Black Friday is no more a one-day event. In the last few years (starting from 2013 to be precise), Black Friday Sales have started way before Friday-with some stores starting their Black Friday sales on Thanksgiving day & some even starting on Wednesday and Monday. It would not be surprising to see Black Friday sale starting on Monday on the Black Friday week. As a result, revenue-wise Black Friday is NOT the most important day for stores. The biggest sales day now includes Thanksgiving day, Green Monday, and Cyber Monday.
Why is it called Black Friday?
The closest reason as to why it is known as Black Friday is given in Wikipedia – “Many retailers report some of their highest profits on Black Friday. The black portion of the name, “Black Friday,” relates to businesses recording their losses in red ink and gains in black. This tradition lives on in modern accounting software, hence the name.”
The term Black Friday got traction with the Internet. Deals websites like Dealsofamerica.com started to highlight “Black Friday sales” from 2003, and the retailers picked it up. Essentially, Black Friday is an Internet term. Before it, people used to refer the sales as ‘Day after Thanksgiving Sale’ or some variation of it. When is Black Friday? Friday, November 29th, 2019
When do Retailers Officially Publish their Advertisements?
Most ads are published in the newspaper on Thanksgiving Day. (The day before Black Friday). But more recently, many stores are starting to publish their Black Friday Ad early in November, or sometimes they leak it even in October. Some stores then have additional black Friday doorbuster items that they only reveal on their website.
Are there black Friday sales online?
Most Black Friday Sales go online when their Black Friday store sales start. As we pointed out earlier that many stores offer their Black Friday Sale online – before Black Friday. However, Some in-store only Black Friday deals from a few stores, may not be available online. Many of such Black Friday like or even better than Black Friday deals can be found at DealsOfAmerica.com throughout the year, including right now. Every day is like Black Friday @ Dealsofamerica.com, so, please bookmark & visit often!
When will you post the Black Friday Ads or Flyers
As soon as we learn about the advertisement or we receive the ad, we will post it. Please see our Black Friday Ad Leak Timeline Prediction know when you may expect to see an ad from your favorite stores.
Are Banks Closed On Thanksgiving?
Yes, Thanksgiving Day is a Federal Holiday in the USA. Because of this, most banks are closed on Thanksgiving Day.
Are Banks Open on Black Friday?
Yes, Black Friday is NOT a Federal Holiday in the USA. Most banks are open on Black Friday. Though Black Friday is an unofficial shopping holiday, some financial institutions might be closed on Black Friday to allow their employees a long weekend off.
How did Singles Day become a shopping holiday?
Alibaba chiefs spotted the commercial opportunity in Singles Day back in 2009 and began launching “Double 11” deals just as online shopping was starting to explode. It was also seen as a chance to boost sales in the lull between China’s Golden Week national holiday in October and the Christmas season.
In that first-year, consumers spent 50m yuan (around £5m), and 27 merchants offered discounts. By 2011 – which was dubbed the Singles Day of the Century because it was 11.11.11 – more than £500m was spent across Alibaba’s platform during the day.
When sales almost quadrupled the following year, Alibaba trademarked Singles Day. Some of the featured deals center around singledom, such as boyfriend pillows and single travel tickets, but the day has now widened to an all-inclusive shopping holiday.
The Hangzhou-based firm, founded by eccentric businessman and China’s second-richest man Jack Ma, now refers to Singles Day as the 11.11 Global Shopping Festival.
So is Singles Day is more significant than Black Friday?
Singles Day laughs in the face of Black Friday. In 2015, Chinese consumers treated themselves to almost £11.4bn worth of goods from Alibaba in just 24 hours. This year, Alibaba surpassed that total within 15 hours.
This resulted in 467 million parcels being delivered after 710 million payments were made, according to Chinese news agency Xinhua. That was an increase of 60 percent in 2014, and more than double the total online sales from Thanksgiving, Black Friday, and Cyber Monday combined in the US in 2015, according to a report by Fortune.
It’s not just about Alibaba, though. Rival Chinese firm JD.com also gets in on the act and American and European brands like Zara and Macy’s offer discounts.
The leading American competitor for Singles Day is post-Thanksgiving Black Friday, known for snaking queues and dangerous stampedes.
Both holidays mark seasons for splurging. Singles’ Day shopping starts between China’s Golden Week (early October) and Chinese New Year (early February), filling an otherwise slow spell for retailers, while Black Friday and digital-era companion Cyber Monday signal the kickoff of winter holiday shopping in the U.S.
But they do have some differences. Singles’ Day features more limited-edition luxury items, with less emphasis on steep discounts.
Many U.S. shoppers look to Black Friday to indulge in a big purchase, like a flat-screen TV, at discount prices. But Singles’ Day, like original nemesis Valentine’s Day, has also become known for gift exchanges.
“What started as an occasion for single people to celebrate their independence has evolved into one of the biggest gifting occasions in China,” Fung Global Retail & Technology analysts reported in 2017.
How much does each person spend?
Growth of the world’s second-largest economy has slowed markedly over the past few years, and in 2015, China devalued its currency for the first time in two decades, which saw billions wiped off its stock market.
Despite that, a 2015 survey of 1,000 Chinese internet users, conducted by Nielsen, found that the average consumer planned to spend 1,761 yuan (£181) during Singles Day – or 22 percent more than 2014.
Mobile shopping is big business in China. Around 37pc of Chinese shoppers buy products using their phones, compared to the global average of 13pc.
Will Singles Day be coming to the UK, Russian Federation, Brazil, or Spain?
The potential to take part in the multi-billion shopping event has encouraged some British retailers to take part. In 2015, Topshop sales surged by 900pc and were seen as a way for the fashion retailer to grow awareness in China.
Likewise, several British brands, including Whittard of Chelsea, Marks & Spencer, Asos, and Waitrose, have marketplaces on Alibaba’s Tmall site.
Sainsbury’s has used a virtual reality promotion tool on Tmall before which allows shoppers to see a 360 degree live broadcast of a London supermarket as they shopped. The event was the second most popular promotion since Sainsbury’s live broadcasted an afternoon tea party on the Queen’s birthday.
The Hut Group, which owns beauty sites and Protein World, said last year it expected sales to double compared to 2016 with brands offering 40pc off haircare products. Meanwhile, vitamin retailer Holland & Barrett is hoping to make £1m from the event alone this year, double its takings last year after trading on Tmall just a few months before Singles Day.
British luxury brand Burberry also has a Tmall store and in 2016, drove demand with personalized cashmere scarves during the shopping event, but didn’t discount its products.
However, the event is unlikely to take hold in the UK as it falls on Armistice Day. “It would be incredibly distasteful to run a shopping event in Britain during Remembrance services,” one retailer said.
Russia is one of the most important markets for China, so on these unique holidays, not only Alibaba but the trading platforms AliExpress, BangGood, Dhgate … and many sellers from China will offer special discounts.
Brazil or in Spain also has many special offers related to the areas of home appliances or electronics, electrical appliances … in addition to fashion and health products. There are many incentives. AliExpress trading platform shipping worldwide, and only after 15-25 days, you can receive products at the place you register.