The just passed “Singles’ Day” shopping carnival, unlike the quiet end at home, is a significant increase in transactions in Germany. According to data from Experian, a data and analytics tool, sales by e-commerce sellers on Singles Day increased 167 percent compared to last year’s average. That’s even ahead of the highly successful 2021 Singles’ Day, which saw an average 102% year-over-year increase in sales last year. Fashion has seen the fastest growth: average daily sales in the fashion industry are up 417%, which is significantly higher than last year’s 235% sales growth.
German consumers also paid a relatively high average price per customer this year, with the average value up 14%. Renate Oldenburger, head of risk and fraud management at Experian, said: “Consumers have learned to start taking advantage of generous offers during the peak season so they don’t have to worry about spending too much even in times of uncertainty or when money is tight.” Experts are optimistic about the rest of the Christmas sales season: “The performance of Singles Day 2022 offers hope for the entire Christmas season, with Black Friday set to be a highlight,” said Experian. According to the system’s analysis of last year’s data, online retail sales for Black Friday 2021 increased 162 percent from November’s average daily sales and orders increased 121 percent. Therefore, this year’s Black Friday will be a day of surging sales.
Post time: Nov-18-2022