Singles Day, known as “Double 11” or “Guanggun Jie” in China, began in the early 1990s at Nanjing University as a celebration for single people seeking a playful alternative to Valentine’s Day. The date 11/11 was chosen for its four “ones,” symbolizing single individuals coming together to celebrate their independence and self-love.
November 11 is Singles Day in China. The unofficial holiday known as “Double 11” or “Guanggun Jie” in China began in the early 1990s at Nanjing University as a celebration for single people. Over time, both men and women began to embrace the occasion, evolving it into a day to celebrate being single, organize social events, and indulge in personal purchases.
The holiday transitioned into a major commercial event when giants like Alibaba (BABA) and JD.com (JD) began to offer heavy promotions. The event is now the world’s largest shopping festival, with annual sales eclipsing those of Black Friday and Cyber Monday in the U.S. combined. For investors, the reports from retailers on Singles Day sales are a major component of the Q4 and year-ahead outlook.
This year, JD.com’s (JD) Singles Day campaign spans 37 days, the longest ever, and Alibaba (BABA) is expanding into 20 countries, aiming for an even broader international impact. Analysts expect more muted growth this year than the 27% pop that Singles Day 2024 delivered.
The list of U.S. stocks with Singles Day exposure of varying degrees includes Alibaba (BABA), JD.com (JD), PDD (PDD), NetEase (NTES), Vipshop (VIPS), Apple (AAPL), Estee Lauder (EL), Nike (NKE), Gap (GPS), Adidas (OTCQX:ADDYY), Starbucks (SBUX). Even Costco (COST) has seen a Singles Day sales burst in China that was enough to move the meter. Related ETFs include the KraneShares CSI China Internet ETF (KWEB) and Global X China Consumer ETF (CHIQ).