2015年CRI Are Consumers Truly Benefiting from ＂Double Eleven＂?

Single's Day itself developed here in China in the mid-1990's as a sort of an anti-Valentine's Day, with young single people using November 11th, or 1-1-1-1 on a digital calendar, to treat themselves to gifts. 

But in 2009, Alibaba took the first step in turning it into, what has now become, the biggest shopping day of the year, not only in China, but the entire world. 

This year, it's expected over 100-million people will have made purchases from the nearly 30-thousand retailers 1 who are said to be taking part in this year's promotion 2. 

Once the dust settles, it's expected over 10-billion US dollars worth of sales will be made this year, easily eclipsing sales made during "Black Friday" and "Cyber Monday" in the United States. 

"I like 'Double Eleven'. Everything is cheap on this day. This year, I'm only buying clothes. They are much cheaper online than they are in shopping malls. But the thing is, you've got to be careful on this day. You need to compare the prices offered in different shops, because some shops will raise prices first before they lower it on Single's Day." 

"I sincerely have nothing to buy on 'Double Eleven.' For me, the most important thing is the practicality of the products I buy. I don't want to turn my home into a storeroom. For sure, some prices are very low, hence the appeal. But buying products because they're cheap won't do me any good if I don't use them." 

Last year, and estimated 9.3-billion US dollars worth of sales were generated through Single's Day. 

The sheer volume of products being moved can sometimes prove overwhelming for retailers. 

"We have to enlarge our inventory 3 and get ready for the annual 'Double Eleven'. And on this day, we have to stay up very late or even work until the next day. The turnover 4 a few days before 'Double Eleven' is actually very low because people would rather wait to spend on this day to save money. In these two days, people who work in logistics and sales are all tired out." 

One issue which tends to crop up every year is the availability of products people want to buy. Zhao Ping with the Ministry 5 of Commerce says they've found a growing number of retailers, particularly those selling products online, are simply using Single's Day as a way to promote their own site. 

"The 'Double Eleven' shopping spree is more complicated than it seems. Many online shops are involved in the promotion. But their supplies often don't meet the demand. Many people have found that the low-price products they've set their sights on are gone almost instantly. Many businesses use this trick to attract customers to their online shops, benefiting only a very small number of their customers." 

The Commerce Ministry is also warning consumers to be wary 6 of certain 'bargains,' noting many retailers will begin increasing the prices of their products in advance of Single's Day to try to fool shoppers into thinking they're getting a good deal with the Single's Day price-cut. 

Despite the slowdown of the overall economy in China, some observers anticipate sales during this year's Single's Day promotion are likely to increase by around 15-percent compared with last year. 

For CRI, this is Li Jianhua.