December 1, 2021

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Contemplate 11/11 or Singles Day to increase the sales of your business

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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media.

This date of offers , called the 11.11 or Singles Day , emerged in China and has now spread throughout the world. The idea emerged in the 1990s to celebrate singleness and freedom from being without a partner. It was called 11.11 because of the date it was chosen and because the four 1s represent singleness. It arose as a contrast to Valentine’s Day .

This great e- commerce event has grown so much year after year that it has exceeded the volume of sales through the Internet of western ecommerce events such as ‘ Black Friday ‘ and ‘ Cyber Monday ‘.

According to data from Alibaba , Comscore and Statista, from 2016 to 2019, Singles Day sales have slightly more than doubled the sales registered in the United States for Thanksgiving Day , which include the already mentioned ‘ Black Friday ‘ and ‘ Cyber Monday ‘.

It may interest you: Singles Day sales in China reached one billion dollars in 85 seconds for Alibaba

In 2020 the 11.11 sales, with a record of more than 74,000 million dollars, tripled the registered sales of its analogues ‘ Black Friday ‘ and ‘ Cyber Monday ‘. These figures only include sales recorded by Alibaba . In addition, from 2020 the festival lasted 11 days, since in previous years it was only held on November 11.

So far in the 2021 edition of 11.11 , a record 290,000 brands have participated, compared to 250,000 in 2020, 200,000 in 2019 and 180,000 in 2018. There is a record of more than 900 million consumers. By now, on its first day, it already has record sales of more than $ 84.5 billion.

In Mexico , one day before the beginning of the Good End , 11.11 is not yet very popular, so only some companies and businesses have joined this date, offering discounts to their customers. So far there is no record of the sales generated in the country by this e- commerce event.

It may interest you: 5 gadgets that you can buy on Amazon this Good End 2021

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