Xiaomi sells 380k items, $90 million worth of stuff on a Singles Day in China
November 11th is an interesting Holiday, called a Singles Day, in China. It’s a play on date’s numbers – 11.11, and is dedicated to celebrate single people enjoying their unattached lives today, but treating special someones to dinner or by giving gifts to finally form long lasting relationships. Started in 1990s, Singles Day has grown into a busiest shopping day of the year – kinda Black Friday of China.
And who’s better to take advantage of such shopping focused occasion than Xiaomi- China’s hottest scheduled/flash sales e-tailer. In the run-up to the Singles Day, Xiaomi has stocked up on every item they had in their catalog – cheap Red Rice phones, Mi3 flagship smartphones, TVs, set-top boxes, various accessories, etc; and opened it all up to the public on November 11th 12.00 AM.
With great success.
Within the first 13 minutes all 10K of Xiaomi’s set-top boxes sold out, and they ran through 110K Xiaomi Mi3 flagships in 2 minutes. When the day closed, Xiaomi had an additional 553 million Yuan ($90 million) in their pockets, and sold a total of 380K items of various stuff with their name on it.
Not bad for a single day’s work for a company that is barely 3 years old.