Fashion

Ethos Q3 reflect Consumer Optimism

Manyavar parent SSSG grows 47% over FY20

Louis Vuitton creates Insta filter for collaboration with ace designer

Merc Maybach S680 – first car bought by a Retail Entrepreneur

ABFRL strengthens TMRW with grand scale plans and D2C acquisitions

Garnier Opens Plastic Waste Collection Center – to Integrate Ocean-bound Plastic into Packaging

E-Commerce

Flipkart spent Rs. 15,020 Cr to earn Rs. 10,476 Cr in revenues
E-Commerce

Flipkart spent Rs. 15,020 Cr to earn Rs. 10,476 Cr in revenues

December 15, 2022
Big Basket spent Rs. 1.10 to earn Re. 1 in FY 21-22; Losses climb 4x
E-Commerce

Big Basket spent Rs. 1.10 to earn Re. 1 in FY 21-22; Losses climb 4x

October 11, 2022
Victoria’s Secret onboards Amazon

Victoria’s Secret onboards Amazon

June 25, 2022
Vinod launches 100% Virgin Aluminium Cookware
Indian Ecomm

Vinod launches 100% Virgin Aluminium Cookware

January 21, 2022
Wednesday, February 8, 2023
  • Login
Retail Updates
No Result
View All Result
  • FMCG
    • FMCG Food
      • Indian FMCG – Food
      • Regional FMCG – Food
      • StartUps FMCG – Food
      • International FMCG – Food
    • FMCG Non-Food
      • Indian FMCG Non-Food
      • Regional FMCG Non-Food
      • Startups FMCG Non-Food
      • International FMCG Non-Food
  • Fashion
    • Luxury
    • Womens’
    • Menswear
    • Kidswear
    • Innerwear
    • Accessories
      • Cosmetics
      • Eyewear
      • Footwear
      • Leather
      • Personal Care
      • Watches
      • Wearables
  • F&B
    • QSR
    • Traditional
    • Cloud Kitchens
  • E-Commerce
    • Amazon
    • Indian Ecomm
    • Services
  • Malls
    • Mall Chains
    • Standalone Malls
  • International
    • USA
    • Singapore
    • China
    • Middle East
    • SE Asia
    • Europe
    • Oz & Nz
    • SouthAm
  • Specialty Retail
    • Travel Retail
      • Airports
      • Metro Rail
      • Railways
      • Highways
    • Auto Retail
      • 2W
      • 4W
      • EVs
      • Fuel Retail
    • Liquor
    • Salons
    • CDIT
    • Grocery Retail
    • Home Improvement
  • Entertainment
    • Cinemas
    • Multiplex
    • OTT Platforms
    • Theme Parks
    • Others
  • Retail Tech
    • Digital
    • Retail AI
    • PoS S/w
    • Payments
    • Credit Cards
    • Crypto
    • Tech Delivery
  • Cities
  • Corporates
    • Industry Info
    • Global
      • Apple
      • Nestle
      • Walmart
      • Starbucks
      • Shell
    • Indian
      • Aditya Birla
      • Arvind Fashions
      • Future Group
      • Reliance
      • Tata Group
      • Shoppers Stop
      • ITC
      • HUL
      • Marico
      • Britannia
      • Dabur
      • Patanjali
      • Reckitt
      • Colgate
    • Listed Cos.
  • Opinions
    • Blogs
    • Videos
    • Interviews
    • Lockdown Impact
    • Editor’s Note
Retail Updates
Singles Day Sales could cross USD 120 Bn in 2021

Singles Day Sales could cross USD 120 Bn in 2021

by Editor
November 12, 2021
in E-Commerce
Reading Time: 2 mins read
0

Back in the 2009 when Jack Ma was building Alibaba, the largest e-commerce company in China, he drew inspiration from the iconic “Thanksgiving Day Sale” in the US ahead of the Christmas season, which usually witnesses shopping frenzy by the countrymen, when Retailers offer deep discounts to clear the year-end stocks, which are purchased for gifting to family and friends by discerning shoppers.

Ma started the company’s big day sale on 11/11 – a nemonic which looks like 4 branches, evoking similarity to for being unattached. The idea was to urge singles to spend and slurge on themselves on being single. Over time, the trend passed on across the country. the company had a consolidated revenue of USD 109 billion for the Financial Year 2020. since 2014, Sales on “Singles Day” (which now has an extended version covering the weekend) has grown from USD 9 billion to USD 78 billion in 2020. In fact, in 2019, it was less than half of that. The frenzy during 2020 was largely due to revenge shopping, a term first coined in China where the Chinese shopped like never before after months of captivity amidst a nationwide lockdown, a first in the country.

YOU MAY ALSO LIKE

Flipkart spent Rs. 15,020 Cr to earn Rs. 10,476 Cr in revenues

Big Basket spent Rs. 1.10 to earn Re. 1 in FY 21-22; Losses climb 4x

Going by current trends, the Singles Day, which is to be held on 11 November 2021 could well cross USD 120 Billion all through the weekend until 14 November, even as the US, Europe and most of Asia has opened it’s doors for international tourists and travellers. Given that there is a lot of transatlantic travel in the anvil, it is expected that the Chinese could spend more on the Singles Day shopping this year than in 2020, driving a new meaning for “Revenge Shopping”.

The build-up for the Singles Day begins by end-October, including rivals JD.com and many others joining the fray. Alibaba, among many top businesses driven by Entrepreneurs in China, have been under tremendous pressure by the Xi-led Communist Government for creating tons of private wealth. After months of bureaucratic scrutiny, Alibaba had to pay a hefty fine of USD 2.8 billion to settle it’s pending cases with the State. Wang Xing, Co-founder of food delivery platform Meituan and Lei Jun, Co-founder of Xiaomi Smartphones have committed to donate vast sums of their personal wealth while Alibaba has committed USD 15 billion over the next five years towards philanthropic activities in the country.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Skype (Opens in new window)
  • Click to email a link to a friend (Opens in new window)

Like this:

Like Loading...

Related

Tags: alibabaChinaInternationaljack masingles day
ShareTweetShare

Related Posts

Flipkart spent Rs. 15,020 Cr to earn Rs. 10,476 Cr in revenues
E-Commerce

Flipkart spent Rs. 15,020 Cr to earn Rs. 10,476 Cr in revenues

December 15, 2022
Big Basket spent Rs. 1.10 to earn Re. 1 in FY 21-22; Losses climb 4x
E-Commerce

Big Basket spent Rs. 1.10 to earn Re. 1 in FY 21-22; Losses climb 4x

October 11, 2022
Victoria’s Secret onboards Amazon

Victoria’s Secret onboards Amazon

June 25, 2022
Vinod launches 100% Virgin Aluminium Cookware
Indian Ecomm

Vinod launches 100% Virgin Aluminium Cookware

January 21, 2022
Ola! Now get Groceries in 10 mins
E-Commerce

Ola! Now get Groceries in 10 mins

March 13, 2022

Listed Companies

PVR Cinemas admits reduce in Q3 compared with 2019
Entertainment

PVR Cinemas admits reduce in Q3 compared with 2019

by Editor
January 20, 2023
0

PVR Cinemas, India's largest multiplex chain had 1.78 lakh seats across 821 screens in India during the 9 months of...

Read more
Back to work impact – Metro Shoes reports highest ever revenues in Q1 FY23

Back to work impact – Metro Shoes reports highest ever revenues in Q1 FY23

October 11, 2022
Reliance Retail posts best-ever performance in Q1 FY2223, more to come

Reliance Retail posts best-ever performance in Q1 FY2223, more to come

August 14, 2022
Titan Industries grows 36% yoy | Tanishq Jewelry by 37% over FY 20-21

Titan Industries grows 36% yoy | Tanishq Jewelry by 37% over FY 20-21

March 6, 2022
Dominos India now at 1,500 locations – Revenues up 13%

Dominos India now at 1,500 locations – Revenues up 13%

March 6, 2022

FMCG

Quick Commerce – End of the Road?

Flipkart spent Rs. 15,020 Cr to earn Rs. 10,476 Cr in revenues

Big Basket spent Rs. 1.10 to earn Re. 1 in FY 21-22; Losses climb 4x

Daawat celebrates World Biriyani Day

Retail Horoscope for May 2022

Metro Cash & Carry expands frontiers in home turf Karnataka

Cities

Tamil Nadu allows Retailers to operate 24/7
Cities

Tamil Nadu allows Retailers to operate 24/7

by Editor
July 3, 2022
0

Tamil Nadu Government allows Retailers to operate 24/7, 365 days a year. Move to boost festival sales especially; retailers ecstatic...

Read more
LuLu Group to play LaLaLa in Tamil Nadu

LuLu Group to play LaLaLa in Tamil Nadu

May 1, 2022
Sunday Lockdown in TN may go – if cases reduce: Minister

Sunday Lockdown in TN may go – if cases reduce: Minister

March 6, 2022
KA State relaxes Weekend Lockdown; Shops, Restaurants to remain open

KA State relaxes Weekend Lockdown; Shops, Restaurants to remain open

January 21, 2022
D’Mart Earnings surge 106% for Q3, 105% for H1

D’Mart Q3 shows rural economy is bouncing back

January 12, 2022

Who We are…

Retail Updates strives it’s best to curate the latest in the world of Retailing from across the world and offers insights and analyses.

No Result
View All Result

In case you missed…

  • Ethos Q3 reflect Consumer Optimism
  • Manyavar parent SSSG grows 47% over FY20
  • PVR opens at Chennai Airport

Search by Tags

E-Commerce F&B Fashion FMCG Industry Info Latest News Listed Cos. Lockdown Impact QSR
  • FMCG
    • FMCG Food
      • Indian FMCG – Food
      • Regional FMCG – Food
      • StartUps FMCG – Food
      • International FMCG – Food
    • FMCG Non-Food
      • Indian FMCG Non-Food
      • Regional FMCG Non-Food
      • Startups FMCG Non-Food
      • International FMCG Non-Food
  • Fashion
    • Luxury
    • Womens’
    • Menswear
    • Kidswear
    • Innerwear
    • Accessories
      • Cosmetics
      • Eyewear
      • Footwear
      • Leather
      • Personal Care
      • Watches
      • Wearables
  • F&B
    • QSR
    • Traditional
    • Cloud Kitchens
  • E-Commerce
    • Amazon
    • Indian Ecomm
    • Services
  • Malls
    • Mall Chains
    • Standalone Malls
  • International
    • USA
    • Singapore
    • China
    • Middle East
    • SE Asia
    • Europe
    • Oz & Nz
    • SouthAm
  • Specialty Retail
    • Travel Retail
      • Airports
      • Metro Rail
      • Railways
      • Highways
    • Auto Retail
      • 2W
      • 4W
      • EVs
      • Fuel Retail
    • Liquor
    • Salons
    • CDIT
    • Grocery Retail
    • Home Improvement
  • Entertainment
    • Cinemas
    • Multiplex
    • OTT Platforms
    • Theme Parks
    • Others
  • Retail Tech
    • Digital
    • Retail AI
    • PoS S/w
    • Payments
    • Credit Cards
    • Crypto
    • Tech Delivery
  • Cities
  • Corporates
    • Industry Info
    • Global
      • Apple
      • Nestle
      • Walmart
      • Starbucks
      • Shell
    • Indian
      • Aditya Birla
      • Arvind Fashions
      • Future Group
      • Reliance
      • Tata Group
      • Shoppers Stop
      • ITC
      • HUL
      • Marico
      • Britannia
      • Dabur
      • Patanjali
      • Reckitt
      • Colgate
    • Listed Cos.
  • Opinions
    • Blogs
    • Videos
    • Interviews
    • Lockdown Impact
    • Editor’s Note

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
%d bloggers like this: