Impact of Mega events like Singles Day and Black Friday on the Retail Sector
Ritesh Mohan
I help retailers to scale their business by 4X by leveraging sales data insights, retail ops & marketing strategies.??Retail Sales growth hacker, ??Franchise expert, International Business,Digital, Retail leasing & BD
Yesterday, I was invited by Dubai Eye FM to speak on their morning Business Breakfast show about Singles Day (11:11).
Yes, for those who don’t know Singles Day was started in China and made popular by Alibaba to celebrate singles and promoting gifting occasion.
Today, Singles Day (November 11) and Black Friday (the day after Thanksgiving in the U.S.) have grown to become massive global retail events, significantly affecting consumer behaviour, retail strategies, and the logistics sector.
These events, originating in China and the U.S., respectively, have expanded globally, driving record-breaking sales, affecting e-commerce growth, and reshaping how retailers approach their marketing calendars.
??In 2023, Alibaba's “Singles Day” sales surpassed $84.5 billion (rising from $74.1 billion in 2022).
?In the western world, sales events like Black Friday and Cyber Mondays are very popular amongst discount seekers as consumers tend to grab the deals and discounted merchandise.
In 2023, the U.S. consumers spent over $35 billion during Black Friday and Cyber Monday events online.
Singles day, Black Friday and Cyber Mondays have become so popular that today it offers a huge opportunity for the entire ecosystem to leverage its popularity.
Ecosystem includes shipping and logistics provider, online payment portals, suppliers of the merchandise etc.
As per the China state postal bureau, in 2023, they shipped over 5.2 billion parcels on Singles day sales event.
Imagine the logistical nightmare in collecting and shipping 5.2 billion parcels within a country.
The data is just mind blowing.
For the Middle Eastern retailers, they need to leverage the popularity of these Mega events especially for categories like Electronics, fashion apparels, fragrances and beauty and household accessories.
Watch the video of my talk on Dubai Eye FM yesterday here.
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I help retailers to scale their business by 4X by leveraging sales data insights, retail ops & marketing strategies.??Retail Sales growth hacker, ??Franchise expert, International Business,Digital, Retail leasing & BD
2 周thanks everyone for your support
Expert in seamless digital transformation and agile coaching. I combine the latest technologies and agile, personalized strategies to make companies be future-proof
2 周Extremely interesting article, Ritesh Mohan. I never fully appreciated the sheer scale of Singles Day and Black Friday or the intense logistics and strategy that go into making these mega-events successful. Thank you for sharing these insights—it’s eye-opening to see the ripple effects across the retail ecosystem.
Founder | Marketing Stratagist | The Sustainable Brands Journal - Publisher
2 周Great article