Singles Day Spending in Singapore Rose 67% Versus 2017/18
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Singaporeans spent an average of S$150, or $110.19, on online shopping on Singles Day (November 11), 67 per cent more than they did in 2017 and 2018, leading to top e-commerce platforms in the city state registering record sales, an iPrice Group analysis showed.
Electronis were the hottest items during the sales day, followed by the home & living category which saw the biggest growth in average spending versus 2018.
Singles Day is an annual online shopping festival that was started by China’s e-commerce giant, Alibaba Group, as a counter to Valentine’s Day. The company uses big-budget marketing campaigns, live product reviews, celebrity performances, flash sales and deep discounts to attract customers, and sales through the day often exceed those during U.S. shopping festivals, such as Black Friday, or Cyber Monday.
This year Alibaba raked in a record $31 billion from sales.
In Singapore, shoppers spent an average of S$171 on electronics, up 77 per cent from last year, as consumers spent on items such as gaming and appliances.
Spending on home and living items rose 156 per cent, led by security equipment, outdoor garden and lighting items.
Kids and toys was also a popular category, and spending rose 92 per cent, versus the last year.
“The increased consumer confidence shows further potential for growth on Singles’ Day in 2020 and beyond,” the iPrice study said.
The findings were derived from data from over 150 e-commerce merchants, and more than 30 million products through the company’s aggregator platform.