Home Business Biggest global shopping days of the year: Black Friday, Cyber Monday and...

Biggest global shopping days of the year: Black Friday, Cyber Monday and China’s Singles Day

762
0

Kathmandu, November 24, 2016: As people these days are going crazy about buying goods in heavy discount, the global shopping day events are attracting lots of people to buy goods online and offline at the best price available.

The month of November is the time when most of the global shopping events takes place. Starting from Nov 11, the China’s Singles’ Day has become the highest spending day of the year with last year’s sale of whopping $9.3 billion. After this, on Nov 25, the Black Friday is the 3rd highest spending day of last year marking the sales of about $2.74 billion. Meanwhile, Nov 28, Cyber Monday is the 2nd highest spending day of last year with sales of about $3.07 billion.

The global e-commerce leaders like Alibaba, Amazon, Walmart among others are trying to increase their sales by luring people with heavy discount rates. This year, Alibaba marked the sale of $14.3 billion beating last year’s sale by 60%.

These mega one-day shopping events have their own story of origin. China’s Singles Day was first celebrated as anti-valentine’s day for singles and then Alibaba’s chairman Jack Ma adopted this concept (in 2009) to make it the day to buy gifts for themselves regardless of being single.

Likewise, the term “Black Friday” was applied not to holiday shopping but to reduce financial crisis; specifically, the crash of the U.S. gold market on September 24, 1869. The most commonly repeated story behind the post-Thanksgiving shopping-related Black Friday tradition links it to retailers. As the story goes, after an entire year of operating at a loss stores would supposedly earn a profit on the day after Thanksgiving, because holiday shoppers blew so much money on discounted merchandise. And this become a retail Bonanza day.

Lastly “Cyber Monday”, this term was created by a marketing company to persuade people to shop online. The term was coined by Ellen Davis and made its debut on November 28, 2005 in a Shop.org press release entitled “‘Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year.”

People of countries like Bangladesh, Pakistan and Nepal had been unable to take advantage of this global fest. But, this year, Kaymu, one of the top online shopping sites has brought this tradition to Nepal and in other countries by bringing “Black Friday” offer.

There is more to come as Black Friday starts tomorrow and Cyber Monday is now just 4 days away on Nov 28. Make sure that you don’t miss this opportunity, so grab the best deal out there and become part of this global fest.