真相集中营

Reuters-Explainer What is Chinas Singles Day and how is it celebrated

November 10, 2023   4 min   841 words

这篇报道详细介绍了中国的光棍节(双十一)及其在全球的影响。光棍节,原为庆祝单身的节日,已演变成为期数周的在线购物狂欢,去年销售总额达1.15万亿元人民币,远超美国的“网络星期一”销售额。尽管销售额创下新高,但增速减缓,光棍节逐渐失去新奇感。受疫情影响,去年销售有所下滑,但随着疫情控制和经济改善,业内专家预测今年将迎来反弹。各大电商平台纷纷加入光棍节狂欢,而购物热点逐渐从折扣品转向生活方式产品。与美国的黑色星期五相比,中国消费者更青睐改善生活品质的商品。报道还指出,多家国际公司在中国电商平台上投放重要资源,如Nike、Lululemon、Estee Lauder等。然而,今年一些公司对中国的消费狂欢采取谨慎态度。总体而言,这篇报道客观地呈现了光棍节的起源、发展及其对全球商业的影响。

2023-11-10T11:59:55Z

Black Friday? No. Cyber Monday? Nope. Prime Day? Absolutely not. The world's biggest shopping event happens in China each year - and it's called Singles Day.

Originally a holiday to celebrate being single, as a counter to Valentine's Day, the event has grown into a weeks-long online shopping festival that peaks on Nov. 11.

The idea for Singles Day had originated at China's Nanjing University back in 1993 and was originally called "Bachelor's Day." On the day, single people treat themselves with gifts and presents, while also organizing social gatherings and parties.

Last year, the total value of goods sold during the shopping bonanza - also known as "Double 11" - totaled 1.15 trillion yuan ($157.97 billion), according to data from consultancy firm Bain.

That is more than four times the $35.3 billion U.S. shoppers spent last year during Cyber Week, the period from Black Friday to Cyber Monday, per data from Adobe Analytics.

Cyber Monday immediately follows Black Friday, which falls on the day after the U.S. Thanksgiving Day holiday, the busiest shopping day of the year in the United States.

But growth has been slowing even as overall sales for Singles Day hit record highs, with last year's 3% rise marking the slowest increase ever. The event has in recent years lost some of its novelty with the rise of other shopping festivals in China, including the midyear "618" sales that are the country's second largest.

Strict COVID-19 curbs in China impacted sales last year, but several industry experts are expecting a rebound, as the economy improves and livestream sales remain robust.

"We're optimistic about growth this year because the recovery seems to be stabilizing and consumption is on a more clear upward trend," said Jacob Cooke, co-founder and CEO of Beijing-based WPIC Marketing + Technologies.

His e-commerce consultancy firm expects sales for the Chinese shopping event to rise in the range between 14% and 18% from last year, which is higher than Adobe's projection for a 5.4% rise in Cyber Week sales.

While Alibaba 9988.HK started "Double 11" in 2009 to win over online shoppers with discounts and promotions, China's major e-commerce platforms now all take part in it.

JD.com (9618.HK) joined in 2012 and PDD Holdings-owned (PDD.O) Pinduoduo has also become a significant player, offering low cost products in competition with Alibaba-owned Tmall and Taobao platforms.

Last year, Chinese shoppers spent more on essentials, supplements, vitamins and pet-care products. Those products are expected to stay in demand this year, along with more lifestyle-focused products such as athletic wear and sports equipment.

"There is enormous demand among Chinese consumers for products and services that improve their lifestyles and facilitate self-expression," Cooke said.

In comparison, U.S. shoppers last year had bought more Pokemon toys, Hot Wheels, TVs, footwear and air fryers during the key Black Friday and Cyber Monday shopping periods, according to Adobe.

From 2014 until 2021, Singles Day had posted growth rates of about 34% annually on average, versus Cyber Week's 17% average gain, according to data from consultancy Bain and from Adobe Analytics.

Several American companies from apparel makers Nike (NKE.N) and Lululemon (LULU.O) to cosmetics firm Estee Lauder (EL.N) and consumer goods giant Procter & Gamble (PG.N) have a big presence on the Tmall marketplace and stand to benefit from the event.

Last year, Apple (AAPL.O), Nike and L'Oreal (OREP.PA) were also among the biggest winners from the event, along with Chinese home appliance makers such as Haier and Midea and sportswear brand Anta.

Nike said in December "Double 11" demand in Greater China grew by mid-teens, outpacing the broader sports industry, with demand from Gen Z consumers for the brand growing by 45% during the shopping period in China on Tmall.

JD.com had noted Apple sold more than 1 billion yuan worth of products in the first minute of the event's final sales period.

However, for this year, several global companies ranging from L'Oreal to Estee Lauder have taken a cautious stance around the spending spree in China during the shopping event.

"The presale period of Tmall and particularly on -- in general, the Singles Day, confirms a softer trend versus a year ago," said Estee Lauder CEO Fabrizio Freda last week, adding that the company was more optimistic about the next part of the Singles Day events in November.

L'Oreal CEO Nicolas Hieronimus on a post earnings call with analysts in October said it was too soon to comment on "Double 11."

"The shy consumers are less shy during the big events, and we have seen that whether it's during Valentine's Day, whether it is 6/18, the market has had its best peaks of growth during this moment," Hieronimus said, adding he had lots of hope for the shopping bonanza.

($1 = 7.2800 Chinese yuan renminbi)

Related Galleries:

People walk past Alibaba's advertisements promoting Singles Day shopping festival, at a subway station in Beijing, China October 26, 2023. REUTERS/Tingshu Wang
A woman stands near an Alibaba's advertisement promoting Singles Day shopping festival, at a bus stop in Beijing, China October 26, 2023. REUTERS/Tingshu Wang