The world’s largest online retail event has kicked off again.
But while it’s far bigger than fellow mega-sales Black Friday or Cyber Monday, most of us have never heard of it.
Singles’ Day – also known as “11/11” or “Double 11” – is a Chinese 24-hour online shopping bonanza hosted by e-commerce behemoth Alibaba.
It is held on November 11 every year and was first launched back in 2009 when only 27 stores took part.
It is pitched as an anti-Valentine’s Day and a celebration of single life.
Last year, around one billion packages were mailed to Singles’ Day shoppers who spent an estimated $42.46 billion.
This year, that record looks set to be shattered, with the New York Times reporting more than 200,000 brands and 500,000 million shoppers are likely to participate.
Top Singles’ Day buys include fashion, skincare and baby products.
The 2019 Singles’ Day was launched by Alibaba with a live-streamed gala complete with a performance by pop star Taylor Swift.
According to Reuters, Alibaba raked in an incredible $19 billion in sales within the first hour of Singles’ Day launching – a 32 per cent jump from last year.
AUSSIES DOMINATE SINGLES’ DAY
Last year, more than 2000 Australian brands took part in Singles’ Day, with Australia the third largest source country behind only the US and Japan.
One of those was a tiny Aussie company with just 15 employees that managed to rake in $2.5 million in one “mind-blowing” day during the sale.
Husband-and-wife team Zina Richter and Pynith Char created the Du’It range of skincare products two decades ago, starting out from their garage in Sydney’s Bella Vista.
Today, Du’It’s range of “dry skin” creams are among the top-selling products on China’s Alibaba e-commerce network, ranking in the top 5 per cent of Australian-made brands.
The 2018 Singles’ Day shopping event shattered 2017’s record, and Du’It’s $2.5 million haul represented a “milestone” for the company.
Originally published as Fans lose it over massive sale