China’s online wine retailers hoping for Singles’ Day boost

As China’s Singles’ day is approaching, the online wine retailers are hoping sales will hit a new record high. Every 11 Nov in China is Singles’ Day, designated as a day to celebrate not being married.

Last year, at the stroke of midnight, millions of Chinese “netizens”, single or not, took part in the world’s largest online sale, with a one-day markdown on products. By the close of trading, the total value of goods sold on Alibaba, the largest e-commerce platform; hit 19.1 billion Yuan (£1.94bn).

As part of that a number of online wine retailers also announced their online sales record. The total online wine and spirits sales reached 200 million Yuan (£20.4m). The largest wine retailer Brewmaster reported sales worth 60 million Yuan (£6.14 million) at the end of the day.

“We are now gearing up for this year’s Singles Day online sale. We hit our record with 60 million Yuan last year and we are confident to sell 100 million Yuan (£10.2m) this year”, said Hongfeng Hao, chairman of Brewmaster.

In addition, to try and attract more customers, online wine retailers are launching a number of promotional campaigns. This year’s sales promotions include “50% off for pre-booking”, “RMB60 million (£6.14 million) cash back for lucky shoppers” and a series of further discounts.

The growth in China’s online sales is driven by an expanding middle class. While the very wealthy can shop for luxury goods on trips through Europe and the US, the middle class, particularly those in smaller cities, use the internet.