Will Singles Day overshadow Valentine’s Day?
The 14th of February is rolling around again, the day of the ‘anonymous’ love. A day of massive spending, which has its roots in the U.S., also known as Valentine’s Day.
How does it compare to Singles Day? The idea behind these two days might be quite different. However, there are a few similarities.
1. Aim to exploit the commercial possibilities as much as possible.
2. Have in principle been branded with singles in mind.
Spendings during Valentines Day
I say ‘in principle’, because the day was designed to secretly / anonymously declare your love to that special someone. However, for commercial purposes, the day has now been expanded to be the day of love in a more general sense. And that has been quite successful.
For this coming Valentine’s Day, consumers in the United States are expected to spend an average of $143 dollars, up from last year which averaged $136 dollars. This report shows that total U.S. spending for Valentine’s Day is expected to be about $19.6 billion dollars. This is $1.4 billion dollars more than last year.
Shoppers spent more than $25bn on Singles Day
Now let’s have a look at Singles day. This special day from China is celebrated on the 11th of November, a date that has four ones in it. As a day that was originally designed to celebrate singledom, a surprising amount of young Chinese singletons use this day to find love. The country is bombarded with special store-discounts and promotions and the media also focus on the message of love. Can you spot the similarities with Valentine’s Day yet?
Starting as a fairly small cultural tradition, this holiday has become one of the biggest online shopping days in the world. Alibaba
, the brains behind commercializing this day, reported sales reaching $5.8 billion dollars in 2013. These numbers have been increasing exponentially and last Singles Day the company reported $25.3 billion dollars in sales, a whopping 40% increase compared to the year before.
Singles Day vs. Valentine’s Day
Despite the fact that the expected sales on Valentine’s Day show an increase compared to the previous year, they will not be able to match the $25.3 billion dollars of Singles Day. In doing so, this will be the first time Singles Day has overtaken Valentine’s Day spending. Of course, with a population of 1.3 billion, China has nearly 5x more inhabitants than the U.S, but it looks like this will be the first year the Chinese people have more billions of love to spend during their day of love.
Hope you all have a lovely Valentine’s Day!
Lots of love,