Single's Day discounts, popularly known as 11.11 are back this year
Even I gave in to the lure of an absurdly inexpensive gaming display and before I knew it I had received a confirmation email
Spend now and regret it later Am I correct?
It's the only time of year when you have a decent excuse to part with your hard-earned money. And now that COVID-19 is complicating our purchasing plans, it is difficult to buy our loved ones (as well as ourselves) presents, particularly since Christmas is quickly approaching.
Here are several Single's Day facts you might not be aware of when you prepare your shopping list:
Student innovators invented Single's Day.
When they were bored in 1993, a couple of Nanjing University students felt the need to both starts a revolution of sorts and glorify single individuals.
They chose November 11 because it would be 11.11 if you wrote it down as a number. The first spot is reminiscent of a "bare stick," which is another online slang term for single males.
As a result, he is unable to add further "branches" to the tree (family tree). However, it is hoped that single individuals would be partnered up and enter into relationships when the ones are put together.
Smartphones were used for 90% of all sales.
Yes, I'm also astonished. In 2019, it was revealed that a sizable number of orders in China were placed through cell phones, shocking U.S. specialists. The website is where the majority of online purchases are made in western nations.
Numerous incentives were offered to those who use their phones on the eastern front. Even in Southeast Asia, businesses like Shopee and Lazada offer games, daily login challenges, and "coins" that can be exchanged for more coupons or flat discounts.
The volume of infant formula sold will astound you.
Baby supplies can be pricey, so when a discount occurs, parents make sure to buy enough to satisfy several generations of children in the future. Around 500,000 cans of infant formula were purchased on 11.11 in 2014. That would last two weeks and feed all the two-year-old infants in China.
Parents also purchased roughly 66 million diapers along with that buy.
The cost of raising children can be high.
More money is generated on Single's Day than by the combined three US holidays.
Deals on American holidays like Thanksgiving, Black Friday, and Cyber Monday might be considered unbeatable. But it is not at all the case.
Thanksgiving Day, Black Friday, and Cyber Monday together are the three greatest internet shopping days in the United States, but 11.11 typically outperforms them all.
Alibaba broke a world record for the most payment transactions processed in a day in 2017 by processing 256,000 payments in a second, and in 2019 the company made $1 billion in just 68 seconds.
The fact that the company's servers didn't melt is astonishing.
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