In the U.S., Thanksgiving, Black Friday, and Cyber Monday deals are iconic, but Chinese shoppers count down the days to November 11, when they are encouraged to take a break from buying gifts for others and treat themselves to something nice.
This year marks the seventh anniversary of Singles’ Day. Initiated in 2009 by Alibaba, Singles’ Day is the largest online shopping event in China. Last year, people reportedly spent $14.3 billion on Alibaba’s website, and the company is expected to bring in over $21 billion this year.
A recent survey of holiday shoppers shows that 96% will purchase more gifts online compared to last year. In 2015, Singles’ Day was dominated by smartphones and tablets, and in the first 90 minutes, Alibaba scored over $5 billion—72% of which was mobile. Throughout the day, mobile devices drove 69% of online sales.
It doesn’t look like November 11 will stop with Chinese shoppers. About half of American holiday shoppers don’t mind sneaking in a gift or two for themselves, so although the Chinese holiday is not officially celebrated in the U.S., Adobe predicts that Singles’ Day will drive $1.5 billion in revenue for American retailers, which trails Thanksgiving Day’s predicted $2 billion sales day.
Want to know how to prepare for the upcoming holiday? Download a complimentary copy of our consumer shopping survey to understand the when, where, how, and why of holiday browsing and buying.