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POLITIKOFF

Today, Singles Day, what does November 11 symbolize?

Politiko 2024-11-11 13:31:44

Today, Singles Day, what does November 11 symbolize?

 "Better alone than in bad company", says an old proverb, which for many people is a true motto. For some, being single is just a temporary state, a situation you live in while you wait to find a partner; for others it is a way of life.

What is singles day

It started in China as a way for singles to celebrate their independence, but quickly became the biggest shopping day worldwide, surpassing even Black Friday and Cyber ​​Monday.

November 11 is Singles' Day, an unofficial holiday that started in China but quickly spread as it gained great interest and appeal. Like Valentine's Day, it is also a very good opportunity to "move money" as it is also a shopping season for those who do not have a match.

China's version of Black Friday kicked off on Oct. 14, about a week earlier than last year, as e-commerce giants Alibaba and JD.com grapple with low consumer spending.

Analysts predict a 4% to 5% increase in the value of goods on Singles Day this year, with sales in the home appliance category supported by the government's subsidy program, according to a report linked to CNBC.

"What we're seeing so far is that it's going to be slightly better in terms of GMV than last year," said Jacob Cookie, co-founder and CEO of WPIC Marketing + Technologies. The company helps foreign brands such as Vitamix and IS Clinical sell electronics in China and other parts of Asia. GMV refers to the total value of the merchandise.

The Story of Singles Day

Singles' Day was started in the early 1990s by university students in China as a reaction to society's orientation towards marriage and commitment.

The date 11/11 was chosen symbolically, as it consists of four 1's, representing solitude and individuality. Over the years, this holiday became very popular and turned into a personal shopping day.

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