Singles' Day – The 11.11. Global Shopping Festival
Coresight Research reports keep you up to speed on Singles’ Day, also known as 11.11 or Double 11. Singles’ Day started in 1993 at Nanjing University as a day for students to celebrate their singledom. In 2009, Alibaba transformed the holiday from an “anti-Valentine’s Day” for Chinese singletons to the “11.11 Global Shopping Festival,” and JD.com now participates with its own multi-day event culminating on November 11.
Singles’ Day has become the world’s biggest 24-hour online sale, with Alibaba and JD each achieving sales levels higher than Black Friday and Cyber Monday combined. Singles’ Day is also expanding globally with retailers offering Singles’ Day sales in the US, Europe, Southeast Asia, Russia and Brazil.