12 Things You Should Know 12.12 ‘Shopping
shopping frenzy in China broke headlines by becoming the most important shopping day within the world by sales volume. Singles Day, persisted 11.11, was followed exactly one month and at some point later by another shopping extravaganza, 12.12.
, Alipay, but it didn’t quite garner the headlines that its predecessor did. So to offer you the lowdown, here are 12 things that you simply should realize 12.12
It’s artificial. Be under no illusions — 12.12, like 11.11, may be a very new event. Both of them were created by different branches of the Alibaba Group within the recent past and this was only the second year that 12.12 has been formally ‘held’.
It has a special target. Whereas the Alibaba retail platform is that the main drive behind the 11.11 event and focuses on enabling larger brands, Alipay (China’s leading mobile payment solution) is that the drive behind 12.12 and focuses far more on smaller e-tailers and offline shops who get little enjoy the November event. it’s also about increasing their own visibility during a time once they are being eclipsed in some circles by WeChat Wallet from rival corporation Tencent.
It’s growing really fast. Some 300,000 offline merchants participated during this year’s event. That’s up from just 20,000 last year — a 15 times increase.
It’s an excellent deal for merchants. Many offline merchants were offered not only half their discount returned to them by Alipay, but a deal offering no transaction fees in 2016, reciprocally for participating within the sale.
It’s not only for smaller retailers though.
It’s not just in China. Stores in Australia, Thailand, Korea and Japan were included during this year’s 12.12 sale, additionally to the Chinese shopping hotspots of Hong Kong and Macau. Alipay ramped up international cooperation this year so as to position itself because the payment solution of choice for traveling Chinese.
It’s even in Taiwan. during a showing of closer economic ties, stores in Taiwan this year also participated within the event — additionally to large departments stores in Taipei, the famed eateries along the Ningxia Night Market also accepted Alipay and gave 50% off.
It made money for patrons . Taobao, owned by an equivalent parent company, offered cash rewards to its customers as a part of the event — users of mobile Taobao who created personal shopping lists
It sparked a replacement trending word. This year saw a determined effort on the a part of Chinese consumers to plan out a whole day of eating, drinking, shopping, and entertainment, moving from discount to discount — resulting in a replacement phrase coined to explain them: ‘Double 12 Strategists’ (双十二攻略)
Its scale of participation is large . While we’ve few accurate estimates of sales volume, we have already got good estimates of participation — 28,000,000 people participated in buying vouchers and discount coupons online, and an additional 30,000,000 people used Alipay’s 12.12 deal in physical stores.
It was great for memberships. movie tickets were sold on 12.12, with 1.5 million of them sold on Taobao alone
