Thursday, April 25The Voice of London

Tag: Offline retail

11.11: Treat yourself this anti-Valentines Day

As Britain starts November with fireworks and wearing poppies, the whole of China awaits Singles’ Day. It could be understandable that you haven’t heard of it yet, although in China 11.11 has already become something of a modern phenomenon. 11.11, so called 'Singles' Day' is a made-up festival. It started as an anti-Valentines Day for young Chinese singletons. However, ever since 2009 the e-commerce giant Alibaba has reformed it into an online shopping festival by offering discounts across its entire platform. In 2009, the sale was just with 27 merchants on board. This number has escalated to 140,000 this year and around 15 million products will be discounted. It was reported by BBC that the company reached 121bn yuan ($18bn; £14bn) of sales last year. Presumably, this record w