Double 11 Singles' Day, the biggest shopping day of the year, is almost here. This year, online stores, telecoms, brick and mortar electronics stores, and travel agencies are all offering sales deals. A survey conducted by the Institute for Information Industry found that large discounts will be offered for a variety of products and many people intend to make purchases on this day to take advantage of the bargains.
The figure on the screen shows that in just three minutes, the global transaction value had already exceeded 10 billion renminbi. This was the situation during last year's Singles' Day, the biggest shopping day of the year, at Alibaba. It set a new record for opening sales. This year's Singles' Day is almost here, and many retailers have already begun offering discounts. Bargains are being advertised on television and online.
Online retailers are not the only participants in this year's Singles' Day. Some telecoms have entered the fray with NT$ 399 flash deals. Meanwhile, brick and mortar consumer electronics stores such as Tsann Kuen or E-Life Mall are also offering substantial discounts on products such as 4K televisions. Many people intend to make purchases to take advantage of the bargains.
Last year, I managed to get 60 percent discounts.
I think it's quite hard to get the deals (for deeply discounted products), so I decided to just give up.
According to an Institute for Information Industry survey, more and more people are shopping on Singles' Day to take advantage of the special deals. The netizen participation rate is rising with each passing year, and has already exceeded 60 percent this year. Meanwhile, the five most popular online retailers on Singles' Day are Shopee, PChome, momo, Taobao and Yahoo.
Singles' Day is an event where the battlefield is based on price. Those with more advertising exposure will naturally catch the attention of consumers. However, attention does not necessarily translate to revenue performance.
Analysts say the conservative estimate for Taiwan's Singles' Day output value is NT$ 10 billion. The survey also found the most popular product is consumer electronics, followed by clothing and accessories, and daily sundries. Many retailers are hoping to extend the shopping frenzy spirit to Christmas.