Brits to spend 2 billion pounds on Singles Day

British consumers are expected to slash 2 billion pounds on November 11 as UK shoppers embrace Singles Day, according to research from ParcelHero.

Singles Day, which originated in China in 1993, is the world’s largest retail event and takes place on the eleventh day of the eleventh month every year.

In 2022, shoppers worldwide spent 112 billion pounds (139 billion US dollars) on bargains, with Chinese e-commerce giants Alibaba and JD.com winning the most sales, and Brits spent 1.97 billion pounds.

The retail event is so popular it has eclipsing events such as Black Friday, Cyber Monday and Boxing Day. With Black Friday last year only achieving 53 billion pounds (65.3 billion US dollars) in sales worldwide.

ParcelHero is predicting that with money tighter than ever, Singles Day is “ideally timed for early-bird Christmas bargain hunters”.

David Jinks, head of consumer research at ParcelHero, said in a statement: “There’s a feeling among some retailers that Brits have yet to fully embrace Singles Day. Perhaps that’s because it clashes uneasily with Remembrance Day celebrations here. However, in 2021 UK Singles Day sales reached 1.72 billion pounds and climbed to 1.97 billion last year, according to the retail statistics expert Statista.

"With retail prices still high and inflation yet to fall enough to take the strain off our family finances, we are all in need of some pre-Christmas bargains. With that in mind, we believe Brits will embrace Singles Day and splash 2 billion pounds this Saturday.”

In the past, UK retailers such as Asos, M&S, Burberry and Dyson have held Singles Day sales on Alibaba’s Tmall site, while UK brands, including River Island, New Look, Zavvi, Boohoo, and Sports Direct have also offered Singles Day deals.

Jinks added: “One retailer certain to feature some great bargains is Alibaba. The China-Britain Business Council says Alibaba will be offering at least 17 percent off everything on its B2C marketplace TMall. UK shoppers who use AliExpress – the site which enables Brits to buy direct from Chinese traders – can’t have failed to notice the big banners counting down to 11/11, which the site says will offer the ‘best deals of the year’.”