The Growing Success of Singles' Day for China and retailers at large

Post on 25-Jan-2017

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Transcript of The Growing Success of Singles' Day for China and retailers at large

S I N G L E S ’ D AY1 0 T H I N G S T O K N O W A B O U T:

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this is the largest online shopping day in the world.

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Singles' Day or Guanggun Jie (Chinese: 光棍节; pinyin: Guānggùn Jié; Wade–Giles: Kuang-kun chieh; literally means: "bare sticks holiday")

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The date is chosen because of the relation between being single and the number '1'.

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Young singles organize parties and Karaoke in celebration of the holiday and to try to meet new people.

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Singles' Day or Bachelors' Day, supposedly came from Nanjing University in the 1990s and soon other universities followed suit.

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Those celebrating singles day usually eat 4 Youtiao (deep-fried dough sticks), and a Baozi (steamed stuffed bun) for breakfast in order to spell out the 11.11.

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'Blind date' parties are popular on Singles’ Day.

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The term "双⼗十⼀一" (or"Double 11") was trademarked in China by Alibaba Group in 2012, and in October of 2014, Alibaba claimed they would take legal action against media outlets that accepted

advertising business from competitors who used the term.

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Amazon is using Singles’ Day as an opportunity to get a hold on Chinese markets. They are using the holiday as a chance to offer single Chinese shoppers a larger selection with faster shipping times.

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The huge sales on Singles Day showcase the importance of China and its middle class as a serious global market. It’s estimated that China has six hundred million to seven hundred million middle class

consumers.

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