RETAIL | Staff Reporter, Hong Kong

Retail sales skyrocket by an average of 758% on Singles' Day

Residents spend an average of $960.

There are an average 758% more purchases in the shopping festival Singles’ Day compared to a regular day in Hong Kong as residents scramble to take advantage of a wide array of discounts to make spontaneous buys, according to online discount firm Picodi.

Also read: Nearly half of consumers set to join Black Friday shopping craze

Hong Kongers spend an average of $960 during the shopping spree with sales peaking in the evening at 6PM.

Unlike its moniker, however, most Hong Kongers that participate in the online shopping festival are in a relationship (52%) compared to the singles for which the holiday was originally made for.

More women (64%) shop on the online festival than men (36%). Those in the ages of 18-24 years old and 55-64 constitute the most active age groups to participate in Singles Day with sales growing by 1,578% and 3,051% respectively compared to an average day.

Surprisingly enough, despite the fact that more women participate in the shopping festival than men, men take home a larger haul as the average number of purchased products is at 4.3 compared to 4.1 for women.

Singles Day is a shopping festival that takes place on November 11 (11/11).

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