In Denmark, November 11th has traditionally been known as "the baker’s birthday," but another shopping day is beginning to make its mark: Singles Day.
Originally, Singles Day in China was a day dedicated to celebrating singles with special deals on various products and experiences. What started as a small acknowledgment of singles has turned into China’s largest shopping day and is now expanding worldwide.
Over the past few years, Singles Day has gained major popularity here as well. With fantastic deals appearing across the internet, more and more attention is being given to the day. Last year, Singles Day even claimed the title of the biggest sales day in China, outpacing Black Friday.
Expectations for This Year's Singles Day Sales Are Surprising
Given that many businesses had low expectations for Singles Day this year due to the ongoing inflation, it comes as a surprise that a record number of consumers are expected to make purchases on the day, compared to last year.
This may also be connected to the growing financial strain, with more consumers searching for discounts before Christmas to help save money.
Planning to Shop on Singles Day
Source: Dansk Erhverv
Looking at who is most likely to shop on Singles Day this year, it’s primarily young people between 18 and 29, which also suggests that this newer shopping day has the potential to grow even bigger in the coming years here in Denmark.
Source: Dansk ErhvervAccording to a survey conducted by Dansk Erhverv this year, more and more consumers are becoming aware of Singles Day, which increases the potential for sales on the day for businesses.
This suggests that Singles Day is here to stay, and businesses can expect to encounter it in the future as well. If a company hasn't jumped on the bandwagon yet, it might be worth considering it for next year.
Team pensopay
