Singles Day is to Chinese web shops what Black Friday is for American retailers: the best day of the year. For very first time, Alibaba's Tmall Global and AliExpress have entered the fray, which is good news for foreign retailers and shoppers.
4.3 billion euro turnover in 1 day
Singles Day approaching in China: 11 November is the day that singles spoil themselves or a potential partner. Ever since Chinese web shops, with Alibaba as its front-runner, used the day to hand out huge discounts (up to 50 %!), Singles Day has become the branch's most important day of the year.
Alibaba's online platforms, Taobao and Tmall, set a turnover record last year with 35 billion yuan (4.3 billion euro), twice as much as the 2.9 billion dollars all American retailers managed on Black Friday and Cyber Monday put together.
200 countries worldwide
The record might be broken again: Singles Day had mainly been a Chinese situation, but Alibaba has announced that the discounts will also apply to foreign shoppers. Citizens from some 200 countries can use the international marketplaces, AliExpress (Chinese retailers sell items to foreign shoppers) and Tmall Global (foreign retailers sell items to Chinese shoppers).
AliExpress shoppers from Brazil, Spain and Russia (among others) will get free shipping, on top of the discounts. Tmall Global will create specific offers for Chinese consumers who buy items from 7 particular countries (like the United States, Great Britain and Germany).