When it comes to shopping festivals in the US, Black Friday is the gold standard of consumer frenzy year after year. The event, which started decades ago as people stocked up on goods and gifts for Christmas in brick-and-mortar shops, has shifted online in recent years, while maintaining its top position as US main shopping festival.
In China, however, the biggest sales events take place online, with many of them coinciding with major holidays. These events, which include Alibaba’s Singles’ Day, JD.com’ 618, and Double 12 shopping festival dwarf Western events like Black Friday, Cyber Monday, and Amazon’s Prime Day.
As a small comparison, Alibaba collected over USD 38 billion in sales during 2019’s Singles’Day, more than all major US festivals together in the same year, at 24.2 billion.
In this video, KrASIA will let you know more about China’s three major e-commerce bonanzas.
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