Could Singles Day be the new Black Friday for British retailers?

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Marks & Spencer, Waitrose and Dyson have all capitalised on the Chinese shopping extravaganza in recent years

Until recently, Black Friday was the “must do” shopping event for British retailers keen to cash in on the mass of frenzied shoppers looking for a bargain. But the Chinese version – Singles Day, held on 11 November (or 11.11) and created to celebrate single people – is gathering pace, potentially presenting a bigger opportunity for British retailers than its US counterpart. The sheer scale of the market – £11.28bn was spent on Singles Day in 2015 –combined with the acute Chinese appetite for British goods, has opened up a significant new sales avenue.

Last year, Topshop saw its sales surge by over 900% compared to Singles Day in 2014. “These results clearly indicate how impactful this online calendar moment has become, and as a key focus market for the brand we see 11.11 as a great way to raise brand awareness and conversion in China,” says a Topshop spokesperson.

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Source: china
Link : Could Singles Day be the new Black Friday for British retailers?

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