So, here’s a thing. China doesn’t celebrate Thanksgiving Day – but it does have a seasonal equivalent: Single Day – when young, single people buy each other gifts. And, this year, Single Day generated almost $5 billion online – that’s at least four times what the US turned over across all channels for Thanksgiving. Daunting stuff.
But we’re not surprised. Not only does China get shopping, it also gets social commerce – and it’s been conducting offline versions of what we at buyapowa do for some time now. Called Tuángòus, these consist of flash mobs who turn up collectively at stores to negotiate better bulk-buy prices. In its rawest, crudest form, that’s essentially what we do with our Price Drop Co-buys – except we work with brands from the start rather than ambushing them like this!
So, there you go. It’s not just gunpowder, paper money and forks that the Chinese invented (yep, even before chopsticks, trivia fans) – they invented social commerce, too!