If it’s your first time learning of ‘Singles Day’, we have some news. It’s not a day to drown in Ben and Jerry’s, sink a glass of red over Bridget Jones, or blast Cher on full volume (although you don’t need an excuse for that, right?).
Nope. Singles Day refers to a date firmly in the non-romantic sense. 11/11 to be precise- which, if you’re reading this with good timekeeping, is today!
Singles Day occurs on the 11th day of the 11th month: 11/11. Initially known as the ‘bare-sticks holiday’, it quickly commercialised from a celebration of bachelorhood to the biggest day for eCommerce shopping in Asia. Singles Day is largely driven by the Alibaba-owned platform Tmall. This year, Alibaba estimates over 15 million products from more than 140,000 brands will be offering discounts- and the sales aren’t too shabby either. 2020 saw Singles Day rack up a whopping £70 billion; more than Black Friday, Cyber Monday, and Prime Day combined.
The key difference between Singles Day and its Western counterparts, however, is in its usage of livestream shopping (also known as live commerce). Hosts flog everything from kitchen appliances, to electronics, to beauty products. Success is shown in the monetary rewards: last year, live commerce bought in a massive £313 million.
Whilst live commerce is gaining traction quickly in Europe and gradually in America, it’s worth questioning why exactly the Western world has been slower to adopt this as a selling method. In a world that loves simplicity, shoppable streams appear the ultimate indicator of ease. Want to buy a sofa, from your sofa? No problem. Proposing, but can’t risk being seen in the jewelers? Say no more.
Go Instore has long recognized this- in fact, we’ve been pioneering in the live-selling space since 2014. As we approach Black Friday and move into the festive season, we’re anticipating our biggest year yet. Our ShopStream feature is expected to power livestreams from some of the biggest retailers in the world to up to a million consumers. Much like the shoppable streams showcased on Singles Day, our feature allows customers to join streams, interact with in-store experts in real time, and engage with other shoppers through a Q&A feature.
So, this Singles Day, given the huge profits that lie in live commerce, it’s worth re-iterating the opening point: if you’re only just learning of 11/11 and live-streaming, it might just be an event worth familiarizing yourself with.
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