On 11-11, the day with the most single ones, the bachelors are in the spotlight in China. On this Singles Day the Chinese web giant AliBaba gives mega discounts. Americans go crazy after Thanksgiving on Black Friday and anyone who is behind the facts has Cyber Monday. What should you do as a Dutchman with these bargain days?
In 2017, Chinese online consumers spent around 168.2 billion yuan (more than 22 billion euros) on the annual Singles Day in China, a record amount. Singles Day is Black Friday on steroids, says Froukje de Jong, retail expert and sinologist.
A few numbers to give you an impression, according to the expert: in 2018 products with a total value of 30 billion dollars (more than 27 billion euros) were sold within 24 hours, three billion packages were sent, and this year the value of the so-called pre-sales orders has been increased by 113 percent. Chinese consumers already have their stuff in a virtual basket and click to buy at midnight.
Dutch people also buy on Black Friday and Singles Day
It is not the only bargain day that has blown into the online retail world from abroad. Black Friday, an originally American discount party and Cyber Monday – which follows Black Friday – are also on the doorstep.
"We know from scientific research that people postpone their purchases because they know that discounts are coming"
Last year during Singles Day, the Netherlands already let go and the sales of online stores tripled, and retailers achieved 22 percent more sales on Black Friday in 2017 than in the same week a year earlier, market researcher GfK calculated the Netherlands. If only the online turnover is considered, the growth was even 42 percent.
People postpone purchases
Those bargain days also affect us in the Netherlands, says Liane Voerman, senior lecturer at the Faculty of Economics and Business at the University of Groningen. But not because the retailers have brought them to the Netherlands so deliberately. The world is smaller thanks to the internet, she says, and those who use the internet will see that Black Friday discounts are given on American platforms and that AliBaba has a discount day. We expect nothing else than that we also get a discount here.
"Singles Day is Black Friday on steroids"
Froukje de Jong
Voerman: "Thanks to scientific research, we know that people postpone their purchases because they know that discounts are coming. These discount days are becoming more famous, so they are relevant to Dutch retailers, including brick & mortarstores. "(or stone stores).
We make our purchases a lot and often through platforms. They are international, so we also receive those national discount days. In fact, we think we are entitled to it, says Voerman. "As a web store you have to ensure that you have enough supply."
In the United States, the birthplace of Black Friday, the bargain day has since been called smashing Fake Friday. The discounts are not that high, retail experts say, and retailers are increasing their prices shortly before Black Friday so that the discount percentage during Black Friday seems higher than it actually is.
There will probably be competitive offers, says Voerman, because consumers can easily get through if there is nothing to be gained. "It's probably a mix. But by announcing offers on such a special discount day, you generate traffic on your website or in your store. They've been with you, and that has positive long-term consequences. It's raising awareness "
"We have that madness around Sinterklaas"
The Chinese Singles Day and the American Black Friday and Cyber Monday are not Dutch, but the consumer does not care, says Voerman. "We have that madness in the days before Sinterklaas, in America it is crammed in one day. The fact that they have very few days off in the United States will have to do with it. Shopping must be done on that Friday after Thanksgiving. "
Whether we should buy Ali Baba empty today or lie down on Black Friday? "I wouldn't do that. If you really have a purchase in mind, it's a good idea to wait a little longer, especially on Cyber Monday – that day focuses on electronic equipment."
. (tagsToTranslate) News (t) NU.nl