When we think of events that cause a sharp spike in e-commerce revenues, occasions like Cyber Monday and Black Friday come to our mind. An often overlooked event that creates a massive boom for e-commerce companies in China and SE Asia is Single's Day. Showcasing the pride of being single, in 2018, the festival grossed for over $30 billion worth of products sold by Alibaba on the day of the event (as compared to Cyber Monday – $7.9 Billion and Black Friday – $6.22 billion), making it the single largest day from an e-commerce standpoint. Started from China, the event has become quite popular in SE Asia over the years. With more and more ASEAN population tuning into e-commerce, the online marketplaces prove to be the best real-time rescues for all the retailers and help them cover huge customer-base.
Nov-24-2019, 00:31:22 GMT