The e-commerce delivery specialist Fastlane International is predicting that Singles Days sales will grow by $7.15bn. While many analysts are predicting a 40% growth in sales this year, Fastlane’s Head of Consumer Research, David Jinks MILT, says total sales could be nearer 50% higher than last year’s; such is the growth in China’s home shopping market.
Says David: ‘Long gone are the days when singles day (11/11) was only celebrated by single male students at Nanjing University. Today Singles Day is the biggest sales day on the planet; with $14.3bn spent online last year: dwarfing the entire combined US spend for Black Friday and Cyber Monday of $5.8bn.’
David Jinks says:
- Singles Day’s impact will grow in the UK. The vast majority of Singles Day sales are made in China on Alibaba’s Tmall site. However, AliExpress, the main sales outlet for Alibaba in the West, is also pushing Singles Day as ‘the world’s biggest global shopping day’. It’s previewing significant discounts on a wide variety of products. Alibaba wants Singles Day to take off beyond China.
- Many UK and US SME retailers source products for their businesses through AliExpress. It’s a fair bet the savings achieved by trade buyers using AliExpress will be passed on to their domestic customers during Black Friday and Cyber Monday.
- Marketplace traders and retailers may introduce their own independent Singles Day bargains. Just as many e-commerce retailers have jumped on the Cyber Monday bandwagon once owned by Amazon, so UK and US merchants are likely to join in the Singles Day party.
- Singles Day is ideally timed just as shoppers become ‘Christmas conscious’. If a significant UK internet retailer such as John Lewis were to promote the day it could become larger than Cyber Monday within five years.
- Alibaba’s stock is up about 27 percent this year and Alibaba shares will continue to do well for investors. Providing the US Securities and Exchange Commission (SEC) investigation into its accounting practices doesn’t result in any significant penalties Alibaba will bring increasing rewards for shareholders.’