3 months later the 2016 Single’s Day Shopping carnival will be live on ZHEJIANG SATELLITE TV (the 3rd largest TV station in China) and broadcast to global via internet. What is Single’s Day shopping carnival? Lots of foreigners may unfamiliar with it, it’s a internet promotional day similar to Black Friday and Cyber Monday held by Taobao on November 11th each year. On this day, many online retailers will conduct large-scale promotional activities.
How much charm does it have? Let’s see the real time statistics on the 2015 Single’s Day shopping carnival from Alibaba group.
100 million turnovers in 18 seconds;
1 billion turnovers in 72 seconds;
5 billion turnovers in 5 minutes 45 seconds;
10 billion turnovers in 12 minutes 28 seconds;
30 billion turnovers in 74 minutes 18 seconds;
91.2 billion turnovers in 24 hours.
New York Stock Exchange hold a special remote opening bell ceremony at 10:30pm on November 11th,2016. The British Daily Telegraph issued an article commented: “Forget tiny Black Friday, Single’s Day shopping Carnival is the world’s largest online shopping festival!”
On Single’s Day, not only domestic housewives eagerly looking forward to big discounts on Taobao, so that their husbands who have to leave work to take care of his wife in case she spent too much money shopping online, the Foreign Media also focus on the shopping festival. In addition to surprise on variety king of numbers, of course there are all kinds of teases. Here we list some opinions towards Single’s Day shopping carnival by the foreign media.
1. The largest injured party is Chinese retail market
The online shopping festival is actually a festival between consumer and online marketing brand, but from the point view of the foreign media, in fact more than two parties participate in this party, meanwhile the China’s retail industry is innocent victim of this online shopping fesitival, actually such promotional activities would definitely hurt the retail industry. Many foreign analysts believe that those online shopping festivals like Single’s Day and 618 would be detrimental to China’s economy.
2. Single’s Day is being upgraded to a holiday
In foreign media reports, a lot of media attention being attracted to such details, Jack Ma met Prime Minister Li Keqiang in a meeting, Li Keqiang says: “You have created a time point.” And this statement is the key to a lot of foreign media focus on labels, it is clear that Double 11 is not a simple business activity days, and gradually turned into a consumer and online marketing supplier festivals.
Furthermore, the online shopping festival being recognized by the government leaders, its significance has beyond the internet itself. Will it rise to a higher level in the future? Imagination is right there.
3. Cluster effect is obvious in China
Different from the more dispersed traffics overseas, the domestic electricity business traffic and turnover will come to the explosion point on Double 11, Reuters has pointed out, Single’s Day contributes 2% of annual online sales in China, and the most famous American Cyber Monday can only contribute 0.5%. In Double 11 2015, the independent visitors attracted by Alibaba group reached 213 million, it almost catch up with the total population of the United States, which only equal to one third of the total number of China Internet users.
4. Logistics will be the biggest problem
A report by Bloomberg pointed that logistical issues will be the key to the success of the Single’s Day online shopping festival, excessive accumulation of orders phenomena will seriously affect the user experience. And ST Express already has 15,000 couriers which especially increase of nearly ten thousand temporary workers for this festival will undoubtedly pose a risk to the quality of package delivery.
Of course, it is necessary to mention SF Express courier service, which purchased of a Boeing 757 cargo plane with a total of 31 cargo airplanes to prepare for Double 11 festival. And the entire China courier industry is urgent requisition of more than 100 airplanes to solve the air freight issues in Single’s Day. This is undoubtedly without precedent in foreign countries.
5. Rally for Alibaba stock price
Bloomberg also pointed out that rally for Alibaba IPO will be the largest implications for Single’s Day in 2015. Foreign analysts expect Ali group will be the largest Internet companies since the IPO of Facebook, and estimated market value will reach $ 190 billion after its IPO, which will also affect the global Internet community. And a variety of digitals burst on Double 11 is undoubtedly the best story on the stock market.
6. China online shopping monopolistic tendencies strengthened
Although there are many online shopping brands including JD, YiXun, Suning in China. But it is undeniable that Ali logistics, supplier and other systems will experience a great pressure during Single’s Day, and this pressure, which is undoubtedly negative resist double 11 companies cannot undertake. It is no doubt strengthened Ali group and its supplier links, the logistics system and strengthened the foundation for its market position in the future.
Overall, The Single’s Day is bittersweet from point view of the foreign media. And of course, there has largest criticism in China, but these sounds are very small compared to consumer expectations.
2016 Single’s Day shopping carnival comes soon, what your expectation on that day? Are you ready to join this crazy online shopping festival? We believe you will have a comprehensive understanding from the video and social media at November 11th 2016.
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