Singles' Day could become as popular as Black Friday for Danish consumers, says electronics retailer Elgiganten.
Denmark, like other countries, has in recent years seen a shift in peak consuming times from January sales-type discount periods to one-day events such as Black Friday and Cyber Monday.
Electronics retailer Elgiganten could now set off the arrival of China's Singles' Day in the Scandinavian country by becoming the first Danish store to offer discounts on the November 11th occasion, reports newspaper Jyllands-Posten.
The Singles' Day festival initially became widespread among young Chinese people as a celebration of the fact that they are proud of being single, with the date, November 11th or 11/11, chosen because the number "1" resembles an individual.
The occasion has since become the largest online shopping day in the world, driven in part by Chinese online retail giant Alibaba.
“As a market leader, it is important for us to listen to what customers want and take part in new trends. In just five years, Black Friday has gone from being a completely new and unknown phenomenon to the biggest trading day in Denmark. We believe that Singles' day can be just as big,” Elgiganten CEO Peder Stedal said in a press statement.
According to figures published by Forbes magazine, 17.8 billion dollars were spent by Chinese people through Alibaba alone on last year's Singles' Day.
“We want to continue being Danes' first choice for buying domestic appliances and home electronics, so we follow market trends globally, not just in Denmark. Singles' Day marks the start of the most intense period of the year, with both Black Friday and Christmas shopping just around the corner. The products we sell are incredibly important for people today, so we expected to be extremely busy,” Stedal said.