We always love to talk about Black Friday, but often forget singles day, which is a growing trend in SA, but of course a huge sales event in China.

I very often track it, as the numbers blow my mind.

This year was no different when you look at the sheer mass of sales, but it was very interesting to see that it was not a big growth day over the years past.

“Alibaba raked in a record 540.3 billion Chinese yuan ($84.54 billion) in orders over Singles' Day. That's a jump of 8.45% from last year's shopping extravaganza - but it's also the lowest growth rate in the event's history.

It's also the shopping festival's first single-digit growth year since the Chinese ecommerce giant created the event in 2009.

Alibaba sold 498.2 Chinese yuan ($78 billion in today's exchange rate) worth of products over the 11-day shopping event last year.

The moderation comes as Chinese economic growth has slowed amid a relentless government crackdown.

This year, gone were the celebrations of unbridled consumption with a live counter tallying sales. Instead, the focus was on social responsibility and sustainability, with Alibaba highlighting environmentally friendly products and charity initiatives.

 

"Alibaba's 11.11 just set a new record, but it's looking beyond numbers," Alibaba's blog announced. Sustainability and inclusivity targets should be taken into account too, the post added.

"In the early stages of 11.11, we focused on growth - the same way that parents would focus on a child's height and strength. But as a child becomes a teenager, the parents shift their focus to nurturing the child's sense of responsibility: the role he or she plays in society. That is what we're doing now," said Alibaba's Chief Marketing Officer, Chris Tung, in the post.

 

Singles' Day retailers also played it low-key this year due to Beijing's crackdown on everything from tech to wealth, as President Xi Jinping touts a more equal society with "common prosperity."

"The 'worship of turnover' is not just unsustainable in terms of growth in numbers, but is also inextricably linked to chaos," said the State-backed Securities Times.” ( source – Business insider South Africa )

What crazy numbers, but it is very evident that the world is changing due to the fact that e-commerce has diversified itself thorough may companies and countries, as a direct result of covid.

But never mind, maybe next year we will run a ‘singles day ‘ … but just a little more ‘Turbo-charged’ with some of you favourite automotive brands .You can always get a head start with some of our favourites.

Stay Safe, Stay Connected and have a wonderful Christmas.