November 11th has become known around the world as “Singles Day” after China started the “holiday” more than 10 years ago. The concept of Singles Day sees “singles” buying multiple presents for themselves from online merchants, and has now become the largest sales event in the world, with China’s Alibaba recording Single Day sales this year of $74 billion USD.
Vietnamese “singles” also participated this year through multiple Vietnamese e-commerce websites, and many Vietnamese e-commerce websites saying they had doubled their sales on November 11th from one-year earlier, which is helping them to weather the effects of the global COVID-19 pandemic on their operations.
Lazada, one of Vietnam’s leading e-commerce platforms, reported that the number of orders in the first hour of the day was double that of the same day last year and that in the first two hours of their Single’s Day sales, the platform sold 20,000 smartphones, 3,000 televisions and more than 50,000 food coupons.
Lazada’s marketing department provided a number of enticing offers to consumers with offers that included discounts up to 50% on 11 million products. The total value of discount codes was reported to be $950,000 USD.
Nguyen Thi Thuy Hang, Marketing Director of Lazada Vietnam said that, "The end of the year is when businesses need to increase their sales and interaction with customers. That is why we doubled our investment in discounts and free delivery codes on this year’s Singles’ Day.”
Shopee, which is also a Singapore based ecommerce platform, said that it also saw a surge in sales of cosmetics, smartphones and top-up cards. Shopee said that Vietnamese favored products that were in the beauty and health, household and lifestyle, and smartphone categories.
Shopee said that consumers also took advantage of its discounts to purchase big-ticket items including motorbikes, with the highest transaction that day worth $5,000 USD.
According to a recent report by Google, Temasek and Bain & Company, Vietnam’s e-commerce market has grown 46% since last year and is valued at more than $7 billion USD.
In anticipation of Singles Day, all of the major e-commerce platforms in Vietnam heavily promoted their individual their Singles’ Day shopping event through multiple media channels, including social networks and through television advertising. The major platforms used limited time offers, games, celebrity and product livestreaming and musical shows to promote their events.