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Singles Day has been described both as a positive reaction to Valentine's Day and as a commercial jippo for increased consumption. The party is not officially recognized but has become a worldwide phenomenon.
Although it is mainly in China at the time of the celebration of the day, it is found everywhere in the world. Elgiganten has made great efforts to make this day a potential challenger for Black Friday in Sweden.
But what is the bachelor party?
Regardless of what you think of the day, we can say that it is the day of the year to sell the largest number of goods in e-commerce in the world. Largely because of the huge marketing of the day by Alibaba since 2009.
Last year, the company's sales totaled $ 25.3 billion, or about 230 billion SEK during the day. Forbes compares the company's sales to Amazon Prime Day and notes that the Chinese e-commerce giant has sold as much in 2 minutes as Amazon in 30 hours.
Total sales at Black Friday ($ 7.9 billion) and associated Cyber Monday ($ 6.6 billion) are also well below those at Singles Day, reports Forbes.
This year, Alibaba sold $ 24.3 billion during the first 16 hours of the event, according to Bloomberg.
Although Alibaba plays a major role in creating the current global phenomenon, they are not the only ones to celebrate it. It has also become an important trading day for Chinese competitors, including JD.com, for example.
In Sweden, the day has so far brought a more anonymous presence. But that could change according to Carin Blom, retail analyst at Postnord. She told the VP that the Swedes were trading 5 billion SEK during the day last year.
And most of the evidence indicates that this number will increase this year.
"We are expecting this, some traders are campaigning for a whole week, and we have increased the volume of parcels increased," Carin Blom said.
This year, 12% of e-commerce retailers reported that the e-commerce barometer planned to pay attention to SVD day.
Famous shopping party
When Alibaba celebrates the day, it's not just a giant dream. In a press release sent this week by Swedish communications consultant JKL, we inform that there was a big festival of celebrities like Miranda Kerr, Cirque du Soleil and Mariah Carey.
Everything is broadcast on television and in previous years the festival was hosted by Nicole Kidman, Jessie J and Pharrell Williams.
But there is another story behind the day.
The date of November 11, or 11/11, would have been chosen because the character looks like a single person. The day should also have started on a university campus in China in the 90s and celebrated by young single men.
Recently, the day was also celebrated by people other than singles. It has also become a popular day for weddings where the 2011 (11/11/11) day drew more than 4,000 people to the Beijing altar, according to the Wall Street Journal.
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