With retailers such as Lazada and Shopee at our convenience, it is estimated that an average of RM277 was spent by Malaysians during the 11.11 sales in 2019. A study also revealed that up to RM683 was spent on gym equipment, because what other way to spend a day for singles than to focus on your own well-being?
We Malaysians aren’t far behind when it comes to spending, especially during 11.11 sales. Data collected as of 21 November 2019 also revealed that there was a 36% growth in search interest in the term “11.11” in 2019 as compared to 2018.
Within the first hour, Lazada hit their 1 millionth item sold during 2019’s 11.11 sales, and it took them merely 13 hours to surpass previous year’s sales record. Its first order was shipped out as early as 1:20am, which was also a new regional record – the first delivery that was made within 80 minutes from the time of purchase.
Lazada Wallet was also the highest-used payment option during the 24-hour sale, with transactions per minute increasing by more than 50% compared to 2018, which saw a whopping 77% increase.
Shopee on the other hand had recorded three times more orders in their first hour of 11.11 compared to the same period the previous year.
“Other products that remain a hit time and again include Milo powder, Drypers diapers, wireless Bluetooth earphones, Tefal cookware, and Photobook,” said Shopee Regional Managing Director, Ian Ho.
Shopee also said in a statement that their top-performing brands had recorded an average of 5,659 times increase in visits and 740 times growth in orders, while shopping activity peaked over lunch at 12.10PM, as the day of the sales fell on a working weekday.
“Biggest gainers include Tefal, Skechers, and Acer who recorded a 3,408-time, 2,870-time, and 1,743-time uplift in orders respectively,” he added.
But we’re only at the surface of the numbers as we’ve saved the best for last, one of the earliest pioneers – Alibaba, which owns a controlling stake in Lazada.
Alibaba recorded US$1 billion (about RM4.14 billion), before going on to reach US$13 billion (about RM53.8 billion), all within their first hour of 11.11. It later went on to surpass its own 2018 record of US$30.8 billion (RM127.6 billion) in 16 and a half hours.
Malaysia also made it to the top ten countries that spent the most during Alibaba’s Singles’ Day sales in 2019, coming in at 7th. Alibaba’s sales also exceeded the total spending of all consumers in the U.S. ‘s shopping holiday of Black Friday and Cyber Monday.
Can we expect to see larger numbers in 2020’s 11.11 sales? According to the ever rising trajectories showcased by each of these e-commerce companies, yes.
It is safe to say that the hype for 11.11 is here to stay as the e-commerce culture has continued to grow in Malaysia; with all these in the works, who knows when the next record will be broken again?