Five Mind-Blowing Facts About Singles’ Day in China
The biggest shopping festival in China, or should we say the world, is fast approaching. And there’s nothing stopping it from happening. This shopping festival has been breaking sales figure records every year since it started and is often compared to the United States Black Friday. But aside from the crazy revenue, it generates year-by-year, here are some mind-blowing facts about the event you may want to know.
Fact #1: As mentioned above, it is the world’s biggest shopping festival
For those who don’t know about singles’ day, you might think that the biggest shopping event takes place in the United States. But no. It takes place in China. It’s no surprise that they host such events since they are the world’s largest e-commerce country, and online shopping has been a hobby among Chinese consumers.
Fact #2: Singles’ Day began as an Anti-Valentine’s Day event
This event was celebrated by unmarried people in China, and the idea originated from the students of Nanjing University as a sort of Anti-Valentine’s Day. Because who won’t celebrate their singleness when there actually is a day for couples, right?
Fact #3: Singles’ Day sales exceeded $139 billion in 2021
Ever wondered how big is $139 billion? That’s like buying 534 thousand Diamond Birkins, 1.3 Million Tesla Model S, or 92.7 Million iPhone 14 Pro Max — ITS. THAT. HUGE.
Fact #4: Singles’ Day has grown 1,080,000% in just 12 years
Alibaba, China’s biggest e-commerce company has recorded a gross merchandise volume (GMV) of $7.8 million. That’s a lot of money for a single-day event right? But it gets better, as the same event held in 2021 gave Alibaba an all-time high gross merchandise volume of $84.54. That’s more than a million times higher than what it recorded in 2009. How much do you think will Alibaba make this year?
Fact #5: Bras sold on Singles’ Day stack up to three times the height of Mt. Everest
Have you ever imagined how high Mt. Everest is? Now imagine three of these beautiful mountains stacking up, that’s how many bras are sold in just the first hour of Singles’ Day in 2015. That’s a lot of bras right there, right?
Well, these are just some of the craziest facts about this most awaited shopping festival of the year. And if you’re a business regardless of the size and you want to participate in the world’s biggest e-commerce shopping festival, let it be your first step to tapping the massive Chinese market.