UK Singles Day spend will double predicts e-commerce specialist
23 / 10 / 2018
Singles’ Day will double in value in the UK this year, predicts e-commerce delivery specialist Parcelhero.
Last year the e-commerce-enabled event, which originated in China and is now a global spending spree, generated worldwide sales of $25.3bn, dwarfing Black Friday/Cyber Monday combined sales of $14.48bn.
As the day falls on a Sunday this year, Parcelhero believes that it will make it more popular than ever with online shoppers and that sales in the UK will double.
ParcelHero’s head of consumer research, David Jinks, said: “Many UK marketplace traders will be looking to make the most of the current bargain rates this Singles’ Day.
“The ultra-cheap postage prices from China could soon be a thing of the past, as Trump pushes the Universal Postal Union hard to reform unfair Chinese postage rates to the West. He’s set to leave the agreement inside a year if China’s rates are not raised.
“Many well-known British retailers, such as New Look and M&S, have previously sold significant volumes of products in China on Singles’ Day through Alibaba’s shop window, Tmall. But this year we believe there will also be a boom here in the UK as well.”
AliExpress, the eBay-style marketplace owned by Chinese e-commerce giant Alibaba, is already offering UK buyers a wide range of products on pre-order for Singles’ Day.
The term Singles Day was chosen because November 11 features all the ‘ones’ and took off in 2011 – 11/11/11. People celebrate the day by buying themselves gifts and, with Alibaba promoting it widely, sales have grown rapidly.
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