Never underestimate the power of single people buying themselves stuff.
Chinese e-commerce giant Alibaba reported its highest individual sales day ever on Singles Day, an informal holiday dedicated to people who aren’t in relationships.
Singles Day is on 11/11 (see all those “1”s? they symbolize being alone) and has become in recent years a bigger Chinese shopping day than Black Friday or Cyber Monday. Alibaba was a pioneer in offering discounts on the holiday, and their sales are promoted with a live TV show advertising the discounts available on the website.
This year, the sale brought in $30 billion for Alibaba, compared to $25 billion in 2017 and $17.8 billion in 2016.
One wonders if the marketing is getting better or if there are just way more people looking for a Single’s Day treat in these lonely times.
Read more: https://mashable.com/article/alibaba-singles-day-sales-record/