According to a report on upi.com, The New York Times said that this one company's sales for the so-called "Singles Day" holiday was about 2.5 times that of sales across the United States on its biggest e-sales event for the year.
And according to 21CN.com, a Chinese news media, within the single day on the Single's Day (ah! tongue twister!), the number of active mobile users on Tmall was over 127 million, and there were over 35.9 million mobile transactions made, which resulted in more than $850 million of sales! Mobile takes up approximately 21% of all the transactions.
I am wondering, while the U.S. marketers are busy coming up with a sales strategy to win some of the market share in the States on Veterans Day, how many actually saw and tried to explore the huge potential in overseas markets such as this one?
Apart from huge international businesses that run local businesses in different parts of the world, there are many other businesses that operate mostly locally. Thanks to the Internet, it brings great opportunities for them to reach the overseas market without having to qualify for all kinds of business registrations both home and abroad. Let's just face it - over half of the population on the whole earth resides in a circle east and south Asia, and the economy is growing in rocket speed there! It is worth it to give it a try there.
Oh, did I forget to mention that Dealmoon.com actually hosted the biggest 11/11 Single's Day sales event in North America? The moment I saw their ad, I was like wow, that was smart! And guess what, one of the snack & cosmetic website listed in the promotion had so much traffic that it paralyzed a few times. Amazing Asian shoppers!
So, what's next? Thanksgiving holiday? Christmas? Or the Asian Spring Festival? I say let's go for all of them around the world!
Sources:
http://www.upi.com/Business_News/2013/11/11/Singles-Day-generates-big-numbers-in-e-China/UPI-28851384192122/#ixzz2kN0cln00http://news.21cn.com/hot/social/a/2013/1112/01/24965170.shtml
Population map:
http://www.washingtonpost.com/blogs/worldviews/wp/2013/05/07/map-more-than-half-of-humanity-lives-within-this-circle/