Singles Day is huge in China. Just ask Alibaba, which reported sales for the day reached $14.3 billion, a 60 percent increase over the same day in 2014. Alibaba rang up $5 billion in sales within the first 90 minutes.
Alibaba first debuted the Singles Day event on Nov. 11, 2009 in China, which each year reaches more and more people from around the globe.
In the U.S., Dealmoon.com, which bills itself as the "Kayak of Luxury Brands" and largely caters to Chinese-Americans, has seen the number of brands participating in its Singles Day event grow from 30 in 2012 to 150 this year.
Earlier this week, Dealmoon co-founder and CMO Jennifer Wang said, "In 2014, Singles Day sales quadrupled that of Cyber Monday to become the world's biggest online shopping day ($9B vs. $2.65B). Singles Day is becoming a topic of conversation in the U.S. with retailers providing offers for a few years now. This year, the depth and breadth of offers are unprecedented; the Singles Day event on Dealmoon will bring three million people to our site."
Source: dealmoon.com
- Alibaba's Singles Day Blowout Racks Up $5B in Sales in First 90 Minutes - Wired
- Is Singles Day ready to go global? - RetailWire
- Alibaba's Singles' Day sales surge 60 percent to $14.3 billion - Reuters
- Dealmoon.com Brings 150 Luxury Brands Together to Serve up Best Deals of the Year on Singles Day, 11/11/15 - Dealmoon.com/PRNewswire