JD.comChinese giant has exceeded the number of sales this November 11, known as Single Day or Singles Day. The company has managed to exceed last year’s sales. The company informed CNBC, which has accumulated a total of 311.4 billion yuan in sales, while, in 2020, it achieved close to 271.5 billion.
JD decided to do a pre-sale long before this day, between October 20 and 31, with the aim of having more traffic on the web and getting many more sales. Thanks to this, the company has grown a 3.42% on the market.
Exponential growth in sales and competition on Single Day
The Single Day or also known as Singles Day, is an event that arose in China to celebrate singleness. The number 1 represents a single unit, in this case a single person, which is why they decided to coin this date 11-11 as Singles Day.
However, this date is not only important to celebrate the fact of being single, but also so that companies can show off by reducing the prices of their products and thus attract more customers, both through the physical channel and the online channel.
But, as is normal, inside the bad there are good things, and inside the good there are bad things. Single Day is good, on the one hand, because consumers can take advantage to buy products that they could never have bought before thanks to the many discounts that are applied. But on the other hand it is bad, since the competition between companies is brutal. They all fight each other to get the most benefit.