November has already arrived making brands and consumers gear up for the upcoming sales events. While many buyers are eyeing the Black Friday and Cyber Monday deals, the Singles Day 2019 Festival is surely going to be a winner; at least this is what the popularity of the previous season confirms.
Singles Day Sales is a big online shopping event so far beating even Black Friday and Cyber Monday that take place around Thanksgiving.
Will Singles Day 2019 Also Be A Hit?
Many e-commerce websites and online shopping stores offer Singles Day sale on November 11, but the Chinese e-commerce giant Ali Baba takes a lead for offering the world’s biggest online sale on this eve. The company that was founded by Jack Ma has millions of customers to cater from all over the world.
The invention of products like AliPay and AliExpress that facilitate financial transactions have also played a role in boosting such e-commerce sales. Furthermore, access to a wide range of products mainly from Tech has also increased the popularity of such events that take place at a local and international level.
Why the Prospects of Popularity of This Year’s Sale Are Gloomy
While online shopping festivals are indeed a big hit one can’t predict with accuracy whether Singles Day 2019 sale will also be a hit just like the previous years’ events. The reason is that sale is much more popular in China than in other countries. Apart from this e-commerce giant Alibaba that makes most of the money from this sale is Chinese a fact that may not go well with the US customers given the context of ongoing US-China trade wars. Apart from this, there are chances that Chinese customers who buy imported goods through Alibaba and other e-commerce websites may boycott US goods.
According to a report by South China Morning Post, 78% of 2000 Chinese shoppers intend to boycott the US products on Singles Day 2019 sales, in a an attempt to show patriotism. Similar behavior from US consumers is not unlikely.
Apart from the trade wars, gloomy aspects of the world’s economy can also make consumers exercise caution. Countries like Hong Kong have already entered the recession due to ongoing protests. Such outcomes can’t be ignored for other countries given Middle East conflict, uncertainty surrounding Brexit and other such global events.
Availing the Opportunity of Sales
Well, apart from all these socio-political and economic circumstances the consumers’ response can be unpredictable for this particular season which is all about sales and discounts. Many people around the globe wait for events like Black Friday, Cyber Monday and Singles Day sales throughout the year to buy the stuff on discounted rates.
