Singles’ Day takes place on November 11 every year. This holiday was born in 1990, originating from students of Nanjing City University who came up with the idea to choose 11/11 as a festival for singles. Because there are 4 1s standing next to each other, conjuring up images of loneliness and solitude.
Especially since 2009, the e-commerce site Alibaba (China) has turned November 11 every year into a “Shopping Festival”. The audience that this festival is aimed at is not only single people but all classes, people who have shopping needs and love shopping. Singles’ Day is also considered the second most important promotional event of the year, as influential as Black Friday or Cyber Monday.
In China, e-commerce giant Alibaba made a lot of money during the 11/11 Singles Day event. Alibaba recorded revenue of 540.3 billion yuan ($84.54 billion) from orders, or “gross merchandise value” (GMV). According to Reuters, Alibaba’s Singles’ Day revenue this year is up 14% from last year’s revenue (about $74 billion).
Meanwhile, Alibaba’s competitor JD.com platform achieved 311.4 billion yuan ($48.6 billion) in revenue across its platforms during the Singles Day shopping event, which broke Last year’s record was 271.5 billion yuan.
Singles’ Day 11/11, e-commerce platforms in Vietnam recorded impressive numbers
Responding to Singles’ Day, a series of Vietnamese e-commerce platforms also aggressively raced on 11/11 and achieved certain achievements. Many records were broken in the biggest sale of the year on Singles’ Day (November 11) this year.
Lazada 11.11 – 1 day of big sale
As one of the leading e-commerce platforms in Vietnam, this year’s Lazada “Shopping Festival” also recorded increased purchasing power from consumers.
According to Lazada, by the end of the 11.11 Shopping Festival, the total revenue and number of orders on the whole floor increased nearly 2 times; The number of brands and sellers participating in this Shopping Festival also increased by 1.5 times compared to the 11/11/2020 Shopping Festival.
Especially, in just the first 2 hours of 11.11, Lazada recorded revenue and the number of orders nearly doubled. In which, the largest shopping cart is worth nearly 110,000,000 VND. The largest shopping cart has up to 40 products.
Various forms of shopping combined with entertainment are also actively expected, especially the SuperShow Music Party, which attracted more than 26 million views with a 20-fold increase in the number of orders.
Shopee 11.11 – Big sale
Users must be no stranger to the extent of Shopee’s spending. This e-commerce platform has been preparing for Singles’ Day since October with a series of attractive ads.
With a series of attractive offers, more than 2 billion items were sold on Singles Day and broke the record set in 2020. At the same time, Shopee also created a new miracle on this day. 11/11 with the number of users accessing the platform increased by 5.5 times compared to normal days.
According to the data, consumers shop in a wide range of categories from home & life, health & beauty, phones & accessories. Of which, 1.8 million home decoration items were sold, including 100,000 decorative paper products and wall paintings. 1.6 million skin care products purchased. 1 million headset products and 150,000 phone case accessories sold.
Tiki 11.11 – Branded goods on great sale
11.11.2021, Tiki – with the image representative of singer Ha Anh Tuan, has launched a huge sale of branded goods, up to 50% off, taking place from 11.11. to 13.11. The company also launched more than 1.1 million coupons in many time frames and the whole floor FreeShip program.
According to a representative of Tiki, the 11/11/2021 shopping event has become Tiki’s most successful campaign ever. Accordingly, this year’s sales of Tiki increased 9 times compared to weekdays, with the number of customers shopping increasing 2 times compared to weekdays.
Only on 11/11, more than 2,000 motorbikes – electric scooters, about 10,000 mobile phones and more than 6,000 beer products were sold. In addition, one of the best-selling items during the peak shopping day is antibacterial and anti-fine dust masks.
The positive results of Vietnam’s e-commerce industry on 11/11 are both a strong proof of customer satisfaction and quality assurance for products, services and events of Lazada and Shopee. This is a great motivation for brands and sellers on e-commerce platforms to actively prepare and achieve more success in the upcoming year-end shopping festivals.
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