Just as Western companies use Valentine’s Day to capitalise on budding – or established – relationships, Single’s Day celebrates anoth- er special someone: me, myself, and I. Instead of an evening of flowers, chocolate, and gourmet cuisine, this holiday sees pyjama-clad consum- ers sitting at midnight in front of lit computer screens, hoping to snag deals from top online retailers.
Born in universities during the 1990s, the day has its roots in Chinese culture. The four “ones” in 11 November reminded students of the character for ‘bachelor.’ Translated, the word means ‘bare branches’; in China, the parents are the trunk of a tree that may or may not bear fruit.
Holiday folklore credits four bachelors playing the popular board game mahjong on 11 November from 11am to 11pm with the four columns card (11.11) always winning. However, this quirky coincidence did not become the year’s biggest shopping day until 2009, when e-commerce conglomerate Alibaba decided to cash in. Last year, 10 million shoppers visited Alibaba within the sale’s first minute. The subsidiary Tmall hit RMB 100 million by the end of minute number two.
After the midnight deals, singles kick off the next morning with four youtiao, deep-fried dough sticks, to represent the four ones, with a steamed, stuffed bun as the middle dot. For dinner, [men and women] will split the check; unlike Valentine’s Day, this is acceptable as it shows their independence.
As published in FOCUS magazine in the November issue.
China’s economic slow-down saw a negative impact on most luxury industries, but yacht sales have grown hand over fist. from 2006 to 2011, the industry swelled 732 per cent. Last year, 3,000 yachts were sold in china; by 2020, experts expect the numbers to hit 100,000. Seizing the opportunity, Chinese producers are stealing market share from more respected American, british and italian brands.
It’s a popular misconception that yachting is the province of the super rich. In Europe, 84 per cent of yachts are worth less than 50,000 euros. As Chinese income levels rise, demand for small- and medium-sized yachts will increase.
Domestic yacht production is still in its infancy, but over 75 mainland manufacturers have captured the profitable middle- and low-end market, with prices 20 to 50 per cent less than foreign brands. with lower prices, they also offer better, localized after-sale service; unlike with foreign firms, owners can maintain and repair their yachts domestically.
The mega-yacht level has a small pool of potential buyers, which means the ability to predict customisation preferences is advantageous. domestic manufacturers have a better understanding of local tastes. In addition, buyers who can afford to dock multiple vessels in different ports for different seasons.
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Welcome to my blog. My name is Kristen Van Nest. I am an avid consumer of all things news, who has started this blog to feature my freelance and consulting portfolio and write about current events relevant, but not limited to: communication strategy, place & corporate branding, international relations, social entrepreneurship, and anything else.