Singles Day sales are set to get crazier this year. The shopping festival is similar to Black Friday and Cyber Monday in the United States, but it is the world’s largest online sales event.
E-commerce giant Alibaba Group Holding, which created the annual November 11 event, is expected to reach a new high on Friday. Singles Day sales at Alibaba this year are expected to jump to $20 billion from last year’s $14.3 billion.
The shopping spree is a peak season for the logistics industry.
China Post estimated that 760 million packages will be generated by Singles Day sales, compared with 540 million last year. Couriers have advertised to hire extra people to handle the seasonal workload increase.
"Singles Day 2016 is expected to be bigger than ever. It’s no longer just a one-day online shopping festival, as retailers introducing promotions that start before and end after November 11," said Wang Xiaofeng, a senior analyst at Forrester Research.
"It is also going global, extending beyond China and Asia to include many international retailers who offer attractive discounts and more efficient cross-border shipping," she said.
A recent report from Nielsen said that apart from sales and discounts, the quality of goods is also a main factor in determining which e-commerce company consumers choose.