Home ThinkTech What is 11 11 Singles Day And Why Should You Know About It (ThinkTech Asia)
What is 11 11 Singles Day And Why Should You Know About It (ThinkTech Asia)

What is 11 11 Singles Day And Why Should You Know About It (ThinkTech Asia)

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China’s Alibaba Is Transforming Retail Behavior- Both Consumers And Merchants-  via Digital Technology. The big news in China this past week was not President Trump’s visit to Beijing and his meeting with President Xi Jinping.  The big news is 11/11. This was the biggest day in China – that is retail spending day- via ecommerce.  How big is this day? Well consider that during this 24-hour period, Chinese consumers outspend US consumers over our Black Friday sales (Thanksgiving to Cyber Monday) – $ 18 billion (Alibaba alone) to $ 12.8 billion. This is good for China – but it is also good for the rest of the world.  It is not about buying Chinese only.  30% are international brands and increasing. 140,000 brands of which 60,000 are global brands. Let’s look at how 11.11 has changed ecommerce.

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