02:23
China's Alibaba introduced its November 11th mega shopping spree about 10 years ago, more commonly known as the Singles Day Sale. And they are aiming to make this year their biggest yet. The excitement has spilled over to Singapore, where the Chinese e-commerce Goliath maintains a significant grip. CGTN's Miro Lu has more.
Nearly a decade ago, Chinese tech titan Alibaba introduced the Singles Day celebration on Nov 11, where shoppers can buy products at slashed prices to ease the pain of being single. The event has gained enormous traction since then. Last year, the company shored up 25 billion dollars in sales within 24 hours, more than the online sales of Black Friday and Cyber Monday combined. This year, it is ramping up its efforts to get even more, in and outside of China.
MICKEY XIONG COUNTRY DIRECTOR OF TAOBAO & T-MALL, SEA ALIBABA GROUP "The Southeast Asian market is definitely one of the fastest growing markets outside of China. And for Chinese sellers who want to do globalization business, this is the first station for them to build up their business. We think it's a very key market for us."
When it first started, only 27 merchants participated in the promotion. Now, over 180,000 brands have hopped into Taobao's Singles Day bandwagon.
MIRO LU SINGAPORE "Because Singles Day is getting so popular, Taobao is now offering a more personalized experience for its customers. This offline store is the first of its kind outside of China, and customers can buy products just by scanning the QR code like this."
VERA SUN STUDENT "I really like the Singles Day Sales, I can buy a lot of things online, and there are many items available and on discount, as a frequent user of Taobao, I like to shop for things especially during Singles Day and I plan ahead of what I want to buy."
CLAIRE LIM HUMAN RESOURCES "I've shopped on Taobao on Singles Day for I think five to seven years."
Wanting to get a slice of the cake too, other regional e-commerce platforms like Lazada, Zalora, and EZ Buy have also started offering Singles Day promotions. As the Singles Day storm sweeps across Southeast Asia, consumers can be sure to find more deals in this period of time. Miro Lu, CGTN, Singapore.