Congratulations to the Acorn International team, who announced that its 11.11 Singles Day e-commerce performance for its Babaka brand exceeded Gross Revenue (before taxes and returns) of RMB 8.5 million in the first two hours of shopping and ended the day at about RMB 13.6 million up from RMB 7.8 million for the full day last year.
New product category entrant Acorn Fresh, selling high-quality frozen seafood to Chinese consumers, also performed well on its inaugural 11.11 selling day, and other parts of the business also had a strong day of sales. Singles Day, also known as Double Eleven for its date, was first introduced ten years ago as a day to celebrate lonely hearts. Today, Singles Day is the world’s largest online shopping day, eclipsing Black Friday and Cyber Monday by a large margin. In 2017, consumers spent a record 168.2 billion yuan, approximately $25.3 billion (U.S. dollars) in Singles’ Day sales.