World's biggest sales day flies under radar in NZ
According to a new consumer omnibus survey conducted by Savanta* for PriceSpy, the fully impartial price and product comparison site, almost three-quarters of Kiwis have not heard of Singles’ Day, despite it being cited as the world’s biggest flash sale shopping day**.
though Chinese online retailer, Alibaba, reportedly netted a
record-breaking US$30.8billion worth of sales on Singles’
Day last year**, surprisingly, the PriceSpy survey revealed*:
- For a second year running, almost three-quarters of Kiwis have not heard of Singles' Day (73 per cent in 2019 compared to 76 per cent in 2018)
- 27 per cent of Kiwis have heard of Singles’ Day, up marginally year-on-year by just three per cent (2019 vs 2018 )
- Only 12 per cent of Kiwis have bought something on Singles' Day (down two per cent year-on-year, 2019 vs 2018)
Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “On a global level, Singles’ Day is by far the biggest sale shopping day of its kind, beating Black Friday***. Yet in New Zealand, the majority of Kiwis have not heard of it.”
“To put this into context, Alibaba is predicting Singles’ Day to be even bigger this year - with more than 500million shoppers expected to take part, up 100 million compared to 2018****. However, historical data insights from PriceSpy for Singles Day 2018, reveal visitor numbers grew just one per cent year-on-year (2018 vs 2017).
Originating in China, Singles’ Day takes place on the eleventh day of the eleventh month (11 November or 11/11). It was first established as an anti-Valentine’s Day for Chinese singletons but has since been transformed by Alibaba, into a global sale shopping festival that takes place over 24 hours.
Even though Singles’ Day seems relatively slow to take off in New Zealand, PriceSpy predicts awareness in New Zealand will increase, as the world’s largest one-day shopping extravaganza continues to grow.
Liisa continues: “Despite our survey results exposing general awareness for Singles’ Day in New Zealand remains rather low, historical data insights captured from our site on 11 November 2018, suggest retailers are gradually getting behind the day - with a significant percentage of products offering discounts.
Single’s Day discounts
- Over a third of products (34 per cent) listed on PriceSpy were discounted on Singles’ Day 2018
- Over half of the TVs (53 per cent) listed on PriceSpy were discounted on Singles’ Day 2018
- Two-fifths (41 per cent) of mobile phones listed on PriceSpy were discounted on Singles’ Day 2018
- 40 per cent of BBQs listed on PriceSpy were discounted on Singles’ Day 2018
Liisa concludes: “For those starting their Christmas shopping early and unexpectantly find a bargain or two on Singles’ Day, as with any flash sale day, we strongly recommend shoppers carry out important price research before they buy.
“Taking this extra precautionary measure will help ensure they aren’t paying over the odds, as historical data insights also reveals 20 per cent of products listed on PriceSpy on Singles’ Day receive a price hike.”
“To stay updated on the latest pricing information for products throughout the year, we suggest shoppers download the PriceSpy app and set up price alerts for their most desired items.”
Based on last year’s popularity data, PriceSpy predicts the following will be popular this Singles’ Day: