A specific date with a specific meaning can offer a crucial opportunity to a business.

Recently, I read a post on Wall Street Journal about Alibaba’s crucial “business day”. I found this article interesting because it addressed the significance of Nov.11th to Alibaba’s sales revenues. According to the article, Alibaba had an impressive record revenue of 36 billion yuan (6,678,720,000 CAD) for just that ONE day. So what does 11/11 mean for this Chinese company?

Here are my thoughts: In contrast to Canadian 11/11 (which represents remembrance day), China’s 11/11 represents ‘Single’s Day’. The image of 11/11 reminds people of four single people, hence the name given to the day. I found this contrast in meaning very interesting. To a Chinese company such as Alibaba (who mainly targets the Chinese market), this date is a crucial opportunity to convince singles to purchase a lot at a discount price. Just as people suddenly buy more roses and chocolates on Valentines Day, on Single’s Day, people are suddenly convinced that they have more reason to buy something on Alibaba. Alibaba takes advantage of such consumer behavior and offers strategic pricing that will lure its customers into buying more. Genius.

While its strategy works for China, where 11/11 is known to be ‘Single’s Day’, I question whether it will have the same effect on other countries, such as Canada, where the meaning of 11/11 is vastly different. Alibaba must keep in mind that with its IPO, it is now a global company catering to the world, not just China.

The original article is called “Crucial Alibaba Business Day Looms” by Kathy Chu.