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Christmas is just around the corner and that means so are some of the biggest sale days of the year.
But what’s becoming the world’s most popular sale event is probably one you haven’t heard of.
Originating in China to celebrate singleness, Singles Day officially kicks off the sale season today.
Last year it generated US$139 billion ($236.5b) for sites like Alibaba and JD.com - exceeding that of Black Friday, Cyber Monday and Boxing Day combined.
New PriceSpy data reveals it’s flying under the radar in New Zealand, with seven out of 10 Kiwis saying they’ve never heard of it.
But big retailers are getting on board.
“The likes of the Warehouse Group, JB Hi-Fi, they’re all getting behind it and starting to really celebrate what Singles Day is and get people out buying and consuming,” PriceSpy tech commentator Jordan Tini told Focus.
“The more people see a promotional event occur the more they want to be a part of it.”
Retail NZ chief executive Greg Harford said it’s just one of many sales days that’s become part of the Kiwi shopping calendar.
“New Zealanders are shopping overseas online, they’re seeing these sales and New Zealand retailers are having to respond to that, so they’re doing what they can to join the bandwagon and offer some great deals to customers.,” Harford said. “Singles Day is still relatively new here but it’s definitely growing.”
With both retailers and consumers facing a cost-of-living battle, there’s concern over how this year’s sale season will actually go.
Continued supply chain disruptions and inflation haven’t helped and now almost a third of Kiwis say they’re not planning to spend across any sale days this year.
But hopes remain high, with many small businesses also embracing Singles Day.
Kiwi beer and wine cooler company Huski said they’ll be offering free delivery to customers.
“It’s our first big peak event coming into Christmas, it’s a one-day thing … and we see a sharp spike in sales,” co-founder Simon Huesser said.
“We’ve definitely seen a slowdown this year in our growth and I think one of the biggest reasons is because people are more conscious of where they’re spending their money. An event like Singles Day gets people out and about shopping so we’re hoping people are looking for us, looking for nice gifts.
“It’ll be interesting to see where we fit in the level of importance in people’s lives.”
Singles Day is officially celebrated from 11.11am on Friday, November 11.
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