October 26, 2022
Singles' Day celebrated annually on 11th November is actually the biggest shopping day in the world, but should UK retailers take part? Our Associate Director, Sarah Williams, shares a little background on the day itself and what opportunities it brings to brands that get involved!
A little background on the day
Singles' Day falls on 11th Nov each year - because the date 11/11 represents four ones (or four singles), standing together and was created as a sort of "anti-Valentines day" for single people to treat themselves. The holiday became a huge commercialised event in China way back in 2009 when e-comm heavyweight Alibaba offered deeply discounted products over this day.
Should UK Retailers take part in Singles’ Day 2022?
Over the last few years, this shopping day has gained traction in the UK, so much so, that UK Singles' Day sales equated to a whopping £1.7bn in 2021. Last year, fashion retailers including the likes of Asos, MyTheresa, Boohoo, H&M and Pretty Little Thing all took part by launching promotional discounts for UK users.
What are the benefits for UK retailers (especially those in the fashion industry)?
There are a whole heap of benefits in UK retailers taking part in Singles’ Day. Here are my top ones:
- The day provides a great opportunity to get ahead of competitors during the Cyber madness and peak shopping season!
- The chance to clear stock earlier ahead of heavier sales/discount periods.
- The ability to give a "trial run" ahead of BFCM to check logistics and time ahead of BFCM to iron out any issues the trial run may flag.
- The opportunity to get in front of new customers who aren't as brand loyal over this period and more open to trying from new brands to them.
- The opportunity to capitalise on traffic and sales whilst competition and CPC's are much lower than they will be over Cyber week.
- An opportunity to reach the Chinese and South East Asian communities in the UK who are wanting to find a similar experience here to what they would get back home, where the day is such a huge shopping phenomenon.
Taking into account the opportunities presented above for Singles Day 2022, along with the stats to back it up, it's no wonder brands based in the UK want to get involved and grab a slice of the pie!
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