Wayne Thorp leads a class in AAII's new Essential Investing Video Course. Go to https://www.aaii.com/ves for more information and to subscribe.
Here in the U.S., we have a history of creating holidays to sell products. Having grown up in Michigan and now living in Chicago, I know that October 18 is Sweetest Day. However, most people outside the Great Lakes region have never heard of it. The reason is that Midwestern candy makers started Sweetest Day to, what else, sell more candy. With our own collection of “Hallmark holidays,” who are we to begrudge another country theirs? Enter “Singles’ Day,” a holiday that originally began in China in the 1990s to celebrate singlehood but has taken off in recent years as a consumer holiday after being adopted by Alibaba Group Holding in 2009. You may recall that Alibaba, an online and mobile commerce company, went public in September and its $25 billion initial public offering was the largest in history.
Popular among young, unmarried Chinese, Singles’ Day is celebrated on November 11 (11/11), the date in the year with the most 1s. Also, its meaning is literally translated as “bare sticks holiday.” Alibaba has taken it as far as to trademark the symbol for “Double 11.”
Singles’ Day has become the largest online shopping day of the year, surpassing our own Black Friday or Cyber Monday sales figures by leaps and bounds. This year, Alibaba reported 24-hour Singles’ Day sales of $9.3 billion, up from $5.75 billion, for year-over-year growth of over 60%. It also shattered market research firm IDC’s estimate of $8.65 billion. Perhaps most extraordinary, and indicative of China’s broad consumer potential, is that the average order was only $33.50, according to Alibaba. As the world’s second-largest economy and world’s largest manufacturer, we are starting to see more Chinese beginning to consume the items they produce.
To help put Singles’ Day’s economic impact into perspective, “Cyber Week,” in the U.S., which combines Thanksgiving and Black Friday as well as Cyber Monday sales, generated $2.9 billion in 2013, according to ComScore. Singles’ Day still has a ways to go, though, before it rivals the U.S. holiday shopping season, which generated more than $48 billion in November and December of last year, according to ComScore.
While Singles’ Day originated in China, it has grown to become an international phenomenon. According to Alibaba, online shoppers from over 200 countries purchased items from the more than 27,000 companies that took part. These include such Western brands as Blue Nile, Calvin Klein, Juicy Couture and The North Face. Alibaba hopes to turn Singles’ Day into a truly international event within the next few years.
Annual PC Buyer’s Guide
All of this serves as a great segue to this month’s feature article: Computerized Investing’s PC Buyer’s Guide 2014. For over 30 years Computerized Investing has been advising would-be computerized investors on the best systems for computerized investment analysis, research and tracking. We also highlight trends in technology that are relevant to those shopping for a new computer. So before you head out to brave the crowds over the Thanksgiving holiday, or if you are like me and prefer to do your shopping in front of a computer, be sure to read this comprehensive guide to get the system that fits your needs.
Happy Thanksgiving
It is hard to believe that 2014 is coming to an end. For me, though, the next several weeks are my most favorite time of the year. It means multiple trips back to my childhood home in Michigan to see my family and spending quality time in the kitchen with my brother-in-law. No matter where your travels take you this Thanksgiving, I wish all you a happy and safe holiday!
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