Singles’ Day Singapore awareness growing
Singles’ Day may have its roots in China, but its impact is spreading rapidly across Asia – including in Singapore.
However, these consumers kept to a bracket of SG$51 – SG$150, showing their self-restraint when it comes to spending, even on such a major sale day.
Fifty per cent of those who frequently buy from only one shopping category showed intention to purchase from other categories on Singles’ Day, suggesting promotions such as this do encourage cross-category shopping.
For a platform like ShopBack which aggregates over 500+ online retailers (including Taobao) in various lifestyle categories from fashion to electronics, it is highly likely people will explore cross-category offers, especially because of the broad range of participating stores.
Fashion, health & beauty and electronics categories account for the greater volume of sales. In contrast, sales in dining and travel is lower, possibly due to the preconceived notion that Singles’ Day deals for these two categories are not as enticing as for other categories.
Singles’ Day is considered the largest online shopping day. Last year, Alibaba achieved US$14.3 billion in sales within 24 hours, breaking its own record of the previous year.