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2023.11.11
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One One One One
Nov. 11. On this day when the number 1 is lined up, large-scale events are held in China as Singles’ Day.
In this column, we will introduce the commercial impact of Singles’ Day.
Table of Contents
1. Origin of the Singles’ Day Sale
2. Becoming a Major Consumption Event in China
3. Sales Continue to Grow Year After Year
4. Conclusion
Origin of Singles’ Day Sale
In China, in the 1990s, there was a custom on November 11th for single people to make fun of each other about not having a partner, giving gifts, and having parties while looking for partners. Alibaba Group noticed this and held a large-scale event for the first time in 2009 at its online shop, encouraging people who are single to enjoy shopping.
Becoming a Major Consumption Event in China
After this big event, it spread not only to online sales, but also to supermarkets and department stores, and has grown into a major consumption event. It has become a commercial season, along with the National Day in October and the Chinese New Year in January and February, and every year it shows off the extraordinary strength of China’s domestic demand, which is unbelievable for us Japanese people.
Sales Continue to Grow Year After Year
Since 2014, the scale has exceeded 1 trillion JPY, and in 2019 it has exceeded 4 trillion JPY. This is just one day’s sales on November 11th. To eliminate the frustration of not being able to buy because of the lack of internet connection, Alibaba group extended the sales period to 11 days from 2020, which made it possible to reach 9 trillion JPY!
This year, the prolonged slump in the real estate market has increased uncertainty in the Chinese people’s mind about the economic outlook, and in addition because the employment situation continues to be difficult, consumers are becoming more frugal. Despite this, it is surprising that the sales exceeded 20 trillion JPY…
Conclusion
Japan has been actively adopting Western culture such as Halloween and Black Friday in recent years, but to improve the Japanese economy even a little, why not try “importing” Singles’ Day right now?
Imoto Sangyo handles various types of ceramics, kitchenware, and daily necessities.
For more information, please see the “Goods & Cases” page.
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