Held on 11th November every year, China Singles’ Day started as an in-joke between Chinese university students, about their lack of significant others. In 2009, online retail firm Alibaba, adopted the day to promote an online shopping sale. Today, it’s the biggest eCommerce event of the year – overshadowing the sales of Black Friday and Cyber Monday combined.
Figures from our Analytics Team back-up this growth. Last year, we processed over 1,100 payments per second at its peak. On average we processed 9,000 transactions per minute globally – which was an increase of 146% on the previous year. And the value of Singles’ Day transactions rose by a staggering 320% on 2014.
Although the event was initially set up to celebrate being single, today, 60% of Chinese consumers buying on Singles’ Day are married – with only 25% being single.
But what are people buying? Last year, the most popular categories were: clothing and accessories, cosmetics and personal care, household products, appliances and food and beverages.