As the summer spending period gets underway, we’re shining a light on a shopping sales event that has grown in popularity in Australia in recent years – Singles’ Day.
The Singles’ Day event started with students back in the nineties and has continued to be an exciting time for young people to secure key shopping purchases for the new academic year and beyond. Keep reading to learn more.
What is Singles’ Day?
In 1993 at Nanjing University, single males were looking for a way to celebrate bachelors and break the monotony that they associated with single life. Thus came the creation of Singles’ Day. In 2009, Chinese marketplace Alibaba took this unofficial celebration to another level that went way beyond the university campus, and transformed Singles’ Day into a huge online sales event.
Taking place every year on 11/11 – chosen because the four number ones are meant to represent singles – this 24-hour event is one of a number of Chinese shopping events that have risen to prominence in recent years and has certainly made a name for itself in Australia. In 2018, Singles’ Day sales exceeded those of Black Friday and Cyber Monday combined. Previous events have involved live-streamed performances from Taylor Swift, Mariah Carey and Nicole Kidman – such is the scale of Singles’ Day.
The appeal for students
With discounts that appeal to their money-saving attitude, and a strong focus on independence and self-love, Singles’ Day heavily resonates with the Gen Z consumer demographic and their values.
What’s more, Australian Gen Zs are very international in their brand preferences, which makes Singles’ Day an attractive choice. The use of live streams and celebrity appearances also makes this a fun and innovative shopping experience for Gen Z. Plus, with the much-anticipated summer holidays fast-approaching by the time Singles Day comes around, students can use this event as a go-to for their summer spending spree, as well as key purchases for Welcome Week in early 2022.
Key takeaways for your brand
Singles’ Day is one of the world’s most profitable shopping events, and a hot-spot for the digitally native Gen Z. Last year, Samsung prioritised their media strategy to get the best results with young consumers. They opted to run a series of limited-time offers over the course of Singles Day and they worked closely with Student Beans to identify the best media to use; opting to go with push notifications in order to reach digitally-native students directly to drive engagement. Samsung saw fantastic results, with surges in sales (1,228%) and an uplift in codes issued (205.7%).
So, this Singles’ Day, be sure to increase your digital presence. Stand out to young consumers by tapping into the online platforms they use religiously – think YouTube ads, TikTok videos, and sponsored posts on Instagram. Shout about your offers as well as your products – 55% of uni students like to see student discounts advertised via social media.
But make sure you do your research first. Understanding key student trends will be key in knowing where best to place your discounts. Do your research beforehand and build exciting activity around those items students didn’t even know they needed.