A woman in Beijing searching on Tmall for discounted goods she wants to by on November 11. (Photo: Li Hao/GT)
4. It has its own countermovement
Singles' Day is so prevalent in China that it has its own anti-movement on social media.
Not everyone fancies commercialism, and many oppose the fact that Singles' Day was captured by Alibaba to maximize profits. On Sina Weibo, a Chinese microblog, the topic "I'm not going to buy anything on Singles' Day" is destined to be trending again this year. While some people splurge, others do not have this kind of pocket money.
Some distrust the quality and trustworthiness of the items sold on that day. "Some online shops choose to sell lower quality items on this day to make more money," an Internet user posted.
There are minimalists too. Internet user "wheat bag" posted: "I only buy stuff when needed."
5. It uses technology to revolutionize the retail market
Big data, virtual reality (VR), Internet of Things (IoT): Singles' Day manifests the fact that China sets trends in new technology and innovation best.
Big data analyzes which region needs which products and places them there in advance. Shops use VR tours and live streaming to present their products to prospective clients. Customers place 82 percent of their orders via their cell phone. Robots sort out the packages, and algorithms tell the delivery person the fastest route to take. This year, the most popular consumer products are connected household objects that belong to the IoT, such as robot vacuum cleaners and even Internet cars, such as the Roewe RX5, jointly launched by Alibaba and SAIC Motor last year.
Double Eleven transforms the way people sell, shop and live.
6. It is expected like Christmas
To add to the excitement and buzz around the holiday, Alibaba organizes a count-down gala to celebrate the start of Singles' Day. Chinese shoppers are impatiently waiting to place their orders just like children on Christmas Eve. Similar to Christmas, it has become fashionable to order gifts for friends and family on Double Eleven as well.
However, in China, opening the presents might take a while longer. With so many orders placed and delivery companies that need to ship billions of items across the country, prolonged waiting times are inevitable.
7. It is becoming a global festival
Online shopping fans outside of Chinese mainland need to wait no more. The Chinese online-shopping realms will soon be at your fingertips. Jack Ma is dedicated to expanding the benefits of his marketing coup beyond the Chinese mainland, as he now calls it the "11.11 Global Shopping Festival."
Hong Kong and Taiwan are going to be part of Double Eleven this year for the first time.
Not only have retailers abroad recognized the opportunity to market to a Chinese audience, but shoppers across the world are increasingly encouraged to buy online at a discounted price on Double Eleven.
"I think we'll see much more 11.11, Singles' Day activity in the US as it continues to grow," Alibaba vendor John McPheters said to the Financial Times.
A dozen planes are chartered to transport goods from China to Singles' Day overseas fans, Sixth Tone reported.
8. It's a unique opportunity for foreign brands
November 11 is the day when doors open for companies abroad who want to access and gain influence on the Chinese market. Thirty-seven percent of clients have bought from foreign brands last year. The countries selling the most that day are Japan, the US, South Korea, Australia and Germany; Apple, Siemens, Nike and Playboy being among the most popular foreign brands. Uniqlo rules in the men's apparel section and Lancôme and L'Oreal in the beauty section.
9. It's beyond just Alibaba (and that's exciting!)
JD.com has become a close competitor to Alibaba's Taobao and Tmall on Double Eleven. Since the platform known for its electronics has bought consumer data from Internet giants such as Baidu and Tencent, it can target clients specifically. The rivalry between the two e-commerce companies will continue to fuel discounts and make the products even cheaper for 11.11 enthusiasts.
10. It's beyond e-commerce
The integration of e-commerce, stores and logistics aided by data are called "new retail," a term created by Jack Ma
Double Eleven has moved from an exclusively online experience to an offline experience as well, as many department stores and shops participate. For example, the Spanish apparel brand Zara offered 50 percent off on all the items in their physical stores last year.
11. It's going to be an entire shopping season
E-commerce mogul Jack Ma is about to turn one special day into a shopping season, similar to the two sales periods in European countries.
However, the fact that it happens within 24 hours adds to the exclusiveness of the event. After all, it's the world's raddest shopping holiday. May it continue to make shopaholics, companies and the national economy happy for many years to come!
