Dealmoon.com, a Chinese-American shopping recommendation site, is gearing up for the annual Singles Day event on Nov. 11, 2016, and is projecting more sales than any other day of the year — including Black Friday. Dealmoon has already curated offers from 200 retailers for this year’s event, including top U.S. luxury department stores.
Singles Day has proven to be a “Cyber Monday for luxury brands,” as it has generated more than $9 billion in sales. Last year, participating retailers included Nordstrom, Saks Fifth Avenue, Bergdorf Goodman, Saks Off 5th and Neiman Marcus.
“Some of our U.S. retailers sold over $1 million worth of merchandise on Singles Day last year,” said Jennifer Wang, Co-Founder of Dealmoon in a statement. “Many of our high-end luxury beauty and skincare merchants even exceeded the sales expectations they had had for Black Friday, and others sold out entire inventories. In 2013, we signed up 30 U.S. retailers; in 2014, 120, and 2015, more than 180. This year, we expect 300.”
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Singles Day began as a consumer holiday in China in the 1990s. Students from the Nanjing University in China are said to have created the concept on the all-ones day of the year (11/11) as an “anti-Valentine’s Day,” to celebrate being single. Singles Day became a shopping occasion in 2009 with promotion by Chinese online shopping platform Alibaba. Dealmoon introduced the event to U.S. retailers in 2013.
