November 11th is World Shopping Day, formerly Singles Day, in China. It’s like Black Friday in the US, but with a twist. Much of it happens online. Sales through Alibaba’s marketplaces, Tmall and Taobao, were $9.3 billion dollars on that day in 2014, up 63% over 2013. Those numbers did not include any other sales in the country for the 24-hours of the holiday.
Speculation on this year’s haul would just be a guess. But here is something to contemplate. Eighty-nine percent of Chinese people who are accessing the internet are doing so on mobile devices. And mobile subscriptions are up over 42% from this time last year. Total subscribers now reach approximately 750 million.
Add to that, last Tuesday’s report in the New York Times about Alibaba’s third quarter, which rose 32% with 62% of the transactions competed on mobile phones.
Another clue: The Golden Week holiday, celebrated from September 24th to October 7th, saw retail sales in Shanghai alone grow 10.3% while in Beijing they grew 6% versus last year.
Time to monetize those impressions. Source: China Skinny, Shanghai Daily