If there is one day to best sell to the online Chinese market, it’s probably on November 11 – dubbed as China’s “Singles Day”! Singles Day is the world’s biggest event for 24/7 online shopping, and Alibaba is getting most of the pie!
According to BBC, this year’s Singles Day will be made up of a whopping 3 million workers and 4,000 ships and planes as they are ready to deliver the goods! But there’s more to that!
Because of the lockdowns and other restrictions due to the COVID-19 pandemic, which severely restricted international (and to some degrees, even local) travel, experts are expecting what is called “revenge spending” from consumers. What does that mean? Revenge spending means, because the consumers weren’t able to travel and go to vacations, they may choose to spend their money instead on purchasing goods, even luxury ones!
An Opportunity to Take
In other words, selling on Singles Day will really be profitable for online entrepreneurs and sellers! This is especially great because in the past months, e-commerce was hit by the pandemic. Now is the chance to recover from losses from these past months!
Alibaba 2020 Sales Record
In fact, even before Singles Day, you could already make a big profit – case in point: Alibaba’s 2020 sales record!
According to China Daily, Alibaba’s Tmall Singles Day had already hit a whopping 372.3 billion yuan ($56.28 billion) in just 10 days starting from November 1!
Maybe, we can expect more today at Singles Day! So, go take advantage of the opportunity, too, and earn as many profits as possible! China’s e-commerce and fulfillment is certainly blooming, and let’s hope this trend will continue upward!