Deal-crazy Singaporeans shouldn't miss out on Singles' Day, the biggest shopping holiday in the world.
You’re probably heard that Singles’ Day is now the largest shopping holiday worldwide, dwarfing even Black Friday and Cyber Monday. With some pre-planning, Singaporeans can join in and score great deals.
What is Singles' Day?
For a little-known Chinese holiday created by lonely young men, Singles’ Day has certainly outgrown its sombre origins. Instead of spending the day gazing wistfully out the window, single men and women celebrate their lack of a partner with karaoke parties, blind dates and singles’ gatherings.
But more than the social activities, Singles’ Day - or 11 November, because 1 is the loneliest number - is celebrated with lots and lots of online shopping. Last year, Chinese online marketplace Alibaba tallied US$14.3 billion in sales in a single day. That’s more revenue collected in a single day than Facebook brought in for the whole for 2014.
Since Alibaba co-opted the holiday in 2009, Singles’ Day has transformed into a glitzy, international event. Last year, the shopping spree was kicked off with a four-hour TV extravaganza featuring not only local talents, but also international stars Daniel Craig and Kevin Spacey.
For 2016, Kathy Perry has been appointed as the event’s global ambassador. And if the steep discounts isn't enough to make shoppers happy, there will also be virtual reality shows and augmented reality games.
Singles' Day Deals for Singaporean Shoppers
Shoppers in Singapore can take advantage of 11 November sales to score deep discounts from their favourite brands. With e-commerce rapidly growing among Singaporean consumers, online marketplaces here are gearing up to launch their own sales blitzes.
Lazada, for one, will have its Online Revolution sale, a month-long deals fest that will kick off on 11 November. The e-retailer promises discounts and deals across goods categories such as mobiles and tablets, home appliances, cameras and fashion. And with the best credit cards for Lazada, you can save an extra S$10 or S$15 on top of these discounts!
Homegrown cashback-for-shopping site ShopBack will also be joining in on the action with its 11.11 Sale. True to the spirit of Singles Day, these special deals will be eligible for one day only. If you’re looking to update your wardrobe for the year-end season, seeking to book a holiday, or simply want to encourage your single friends with gifts of Pocky or Pepero, now’s the time to do it. And if you shop on Lazada and other online stores through ShopBack, you can earn real cash back, saving you even more money.
In the past, Xiaomi, ASOS, and even Shangri-La group had their own Singles’ Day promotions. We are sure plenty more retailers are planning exclusives for Singles Day this year, but our sources are tight-lipped for now, and won't make any announcements until shortly before the 11th.
To make sure you don’t miss out on deals from your favourite brands, subscribe to their newsletters or Facebook pages. We've also listed all the Singles Day sales in Singapore we can find.
Singles' Day Shopping at Taobao and Tmall from Singapore
If you’re looking to buy directly from China, you can trawl Tmall or Taobao for Singles’ Day bargains. Both websites are in Chinese, but Tmall and Taobao operate on slightly different models.
Tmall is a B2C platform, which means that only proper registered businesses are allowed to sell their goods on this platform. Taobao, on the other hand, is a C2C platform, meaning you’ll be dealing with individuals who have goods to sell.
Because of this, Tmall prices are generally higher, but you’ll be getting more peace of mind. But with the massive Singles Day discounts, you probably won’t mind the price difference at all. On the other hand, you can find great furniture and other home items at Taobao for 1/3rd of the retail price in Singapore.
The Right Credit Card Will Help You Save More
Pair up your Singles' Day purchases with the right credit card for online shopping to save even more on 11 November.
The Standard Chartered SingPost Platinum Visa Card gives you 7% cashback for online purchases. And if you ship through VPost, you’ll also receive up to 30% discount on your freight fees, as well as free insurance capped at US$250 value
If you’re a Citibank cardmember, don’t forget to make use of the Citi Globalshopper programme to get 5% cashback on shipping charges through VPost.
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By Alevin Chan
A Certified Financial Planner with a curiosity about what makes people tick, Alevin's mission is to help readers understand the psychology of money. He's also on an ongoing quest to optimize happiness and enjoyment in his life.
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