11.11 Big sale in China

The meaning of Nov.11 for Chinese people is like that of Black Friday for American.

This festival was first began from a sales promotion from TaoBao, which is Chinese eBay. TaoBao is most famous online store for selling everything. I remembered on my undergraduate stage, young people began to celebrate Nov.11. The reason why young people celebrated Nov.11 is it was written like 4 sticks. Stick in China means single person. So every Nov.11, young people are doing some shopping to celebrate single day.

Marketers grasped this opportunity to make sales promotion. Sals companies gave customers discount to attract customers to buy more products than common days they would buy. What business man focused was quantity of products. People could buy a lot of this kinds of product for consuming. So this sales promotion method is not suit for selling luxury products.Image(Taking from http://content.businessvalue.com.cn/post/15650.html)

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3 thoughts on “11.11 Big sale in China

  1. Sure. 11.11 is a smart idea for TaoBao today in China. People are crazy about that. Different to Black Friday, it has no long history of culture base, just some gimmick ideas for young shoppers. Besides, the official 11.11 is only an online promotion in TaoBao.com. The profit is huge but not all brands or stores participated in it.—SaiZ

  2. True. It seems every “newly born” holiday has become a common stimuli for retailers to encourage our purchase. On X’mas, we shop; on Thanksgiving we shop; on Labor day we also shop. Now to celebrate being single, we still shop! I think whether it’s suit for luxury products or not depends on the brand and what they want their consumers to perceive their brand image. Nowadays, even though LV or Hermes, who used to claim themselves not involve in discounted sales, has began to select some items to tag “sales” to reduce the out-of-season inventory and boost their sales. —R. Jia

  3. I am so amazing found that you also talked about this topic in your blog! 11.11 is also crazy in China. The sales has been tremendously increased in a day. The total sales of Taobao.com, the biggest B2C business in China has far surpassed the total sales of both Black Friday and Cyber Monday in U.S.. However, one reason Taobao.com nailed 11.11 is because of the low performance of offline stores during these days.

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