Preparations for Singles Day, the biggest shopping day on the Internet in New Delhi, are in full swing, with more than three million employees and more than 4,000 transport planes and ships delivering millions of products to consumers. This single day of online shopping has been dubbed "revenge spending." The volume of online purchases in China on November 11 can be estimated from the fact that 1.9 billion products were purchased on this day last year. But with many consumers out of the market due to the Corona epidemic, it is hoped that people will buy a record number of products on the Internet this year.
With many consumers out of the market due to the Yakin Corona epidemic, it is hoped that people will buy a record number of products on the Internet this year. The items are expected to include a large number of home cleaning robots, as well as vacuum cleaners and home repair tools.
However, it is hoped that this time around, people will also buy expensive items made by well-known companies. This is because millions of Chinese have not been able to travel abroad this year due to travel restrictions, and they will be content to shop online for luxury products as well. That's why some analysts are calling it 'revenge spending'."We believe that the ongoing restrictions on international travel will make a difference to the trend of Chinese consumers and they will also buy luxury products on the Internet," said Michael Norris, of the China Business Research Institute in China. ۔Big brands are also taking advantage of this opportunity, which will see us double the number of these big companies selling their products on Singles Day.
Singles Day is also called Eleven or Double Eleven in China. It was started by Alibaba and the purpose of the day was to attract men and women who are alone. In a sense, it's a reversal of Valentine's Day, when people in a romantic relationship give each other presents.
Compared to Alibaba, JD.com also celebrates a big day of online shopping, but Alibaba's Singles Day shopping has become a big festival in terms of number of products and profits.
The total value of products sold on Singles Day last year was more than 23 267 billion, more than double the total purchases made in the United States on Black Friday and Cyber Monday. Last year, there was a minute on Singles Day during which a billion dollars was transacted.
This year, as Chinese consumer demand is high, online shopping for Singles Day has picked up since November 1, and between November 1 and 3 it has seen a lot of activity.
Three-and-a-half million companies, including both Chinese and international brands, are taking part in the online sale on Wednesday, November 11, and will sell everything from household goods to cars and houses.
Impact on the environment
The environmental impact of the event is so severe that Greenpeace has called it "environmentally destructive." According to the agency, more than 52,000 tons of carbon dioxide was released in 2016 due to Singles Day. It takes about half a million trees to absorb so much carbon dioxide that it will continue to do so for the rest of its life. According to Greenpeace, the production, packaging and delivery of such large quantities of products has a devastating effect on the environment. "One-click disposable fashion doesn't offer a sustainable shopping model in the future," the company said.
More and more consumers are opting for online shopping, even from foreign online retailers. In addition to making shopping online convenient and easy and you can make your purchase at any time, its advantages also include a more varied selection of products and lower prices than those offered by local retailers. Given that in these cases you do not have direct contact with the seller and you cannot check the goods before buying, it is important that as a consumer you are aware of what your rights are and what you need to pay special attention to when shopping online.