Definition:
Single's Day, also known as "Singles' Day" or "Double 11," is a shopping event and celebration of singlehood that takes place annually on November 11 (11/11). Originating in China, it has become the world's largest e-commerce event, surpassing dates like Black Friday and Cyber Monday in terms of sales volume.
Origin:
Single's Day was created in 1993 by Nanjing University students in China as a way to celebrate the pride of being single. The date November 11th was chosen because the number 1 represents a single person, and the repetition of the number emphasizes singleness.
Evolution:
In 2009, Chinese e-commerce giant Alibaba transformed Singles' Day into an online shopping event, offering significant discounts and promotions. Since then, the event has grown exponentially, becoming a global sales phenomenon.
Main features:
1. Data: November 11 (11/11)
2. Duration: Originally 24 hours, but many companies now extend promotions for several days.
3. Focus: Primarily e-commerce, but also includes physical stores
4. Products: A wide variety, from electronics and fashion to food and travel
5. Discounts: Significant offers, frequently exceeding 50%.
6. Technology: Intensive use of mobile apps and streaming platforms for promotions
7. Entertainment: Live shows, celebrity streams, and interactive events
Economic impact:
Single's Day generates billions of dollars in sales, with Alibaba alone reporting US$74.1 billion in gross merchandise volume in 2020. The event significantly boosts the Chinese economy and influences global retail trends.
Global expansion:
While still primarily a Chinese phenomenon, Single's Day has gained popularity in other Asian countries and is starting to be adopted by international retailers, especially those with a presence in Asia.
Criticisms and Controversies:
Excessive consumerism
2. Environmental concerns due to increased packaging and deliveries
3. Pressure on logistics and delivery systems
4. Questions regarding the authenticity of some discounts
Future trends:
1. Greater international adoption
2. Integration of technologies like augmented and virtual reality
3. Growing focus on sustainability and conscious consumption
4. Extending the event duration to reduce logistical pressure
Conclusion:
Single's Day has evolved from a college celebration of singlehood to a global e-commerce phenomenon. Its impact on online sales, consumer behavior, and marketing strategies continues to grow, making it a significant event in the global retail calendar.
