Chinese Singles Day, the world’s largest shopping event, is going tough

Perry, Craig and Williams attended a one-day event hosted by renowned technology company Alibaba. With nearly $ 75 billion in sales in 2020, it is the world’s largest retail event.

The festival promises to generate a significant revenue again this year. But this singles day will be different than usual.

General prosperity

Companies like Alibaba are under pressure from the Chinese government. A new wind of ‘public prosperity’ is blowing in the country. It’s a term introduced by President Xi Jinping this summer.

G believes that the Chinese should place less emphasis on material things like Nike shoes and more emphasis on moving the whole country forward. He also wants wealth to be distributed fairly. If the leader announces such a thing, you as a company respond to it.

Alibaba Last week, the festival was not just about sales figures. Under the heading of ‘Public Prosperity’, the company promises to become more sustainable. In the coming years, the company promises to invest more than $ 15 billion in projects to reduce inequality in China.

None of the international pop stars will appear this year. And sales figures will have to sing a little less. The news has clearly reached Chinese technology companies. If the government wants you to behave in a certain way, you will.

It’s a shame for pop stars who have been able to pickpocket about the success of Bargaining Gala until recently, but the era of glittering and glamor in China is over. And it should never come again.

What is Singles Day?

Unlike an event like Black Friday that takes place in the United States, customers will be the first person to lie down and bargain early in the morning in front of stores, and you will only enjoy Singles Day on your smartphone.

It works like this. Ahead of Singles Day, you can see what this year’s deals will look like on Chinese online stores like Alibaba and JD.com. Big brands like Nike and Xiaomi often offer big discounts on new products. You can order those items with a discount on singles day. Singles Day is gaining popularity in the Netherlands, especially among younger shoppers.