While the double elevens represent Pepero Day in Korea, they stand for a different nationwide event in China--Singles' Day.
Chinese Singles' Day is the biggest shopping event in the world.
It began when the Chinese e-commerce giant, Alibaba, began offering massive online bargains through its platforms.
Just last year, it processed sales of 17.8 billion US dollars on Singles' Day.
(standup) ed: Mark
“China is excited for Singles' Daybut in Korea, the biggest question is whether local distributors can find a way to make up their losses from the THAAD controversy, through the world’s biggest retail event.”
Korean retailers are going all-in to try and attract Chinese customers who have been delaying their purchases until Singles' Day.
Cosmetics companies, domestic airlines, department stores, and duty-free operators, are all carrying out active online promotions through their websites and various social media services including Weibo.
And because duty-free customers can receive their products only by travelling to Korea, the sales figures from Singles' Day could be a key indicator that shows whether China's THAAD retaliation is actually coming to an end.
"We are offering various online events and are hoping that they will lead to an increase in individual tourist sales, amid the thaw in Korea-China relations.
Korea has recently started to see a slow recovery in the number of Chinese tourists, as seen on the streets of Myeong-dong, but there are still some remaining challenges.
"There aren't any evident substantial changes. A proper recovery requires flights to Korea to be resumed, so that the tourism industry gets back on track. Those changes will take approximately 3 to 6 months."
Experts say that if local distributors see high Chinese sales on Singles' Day, it will be a catalyst for a strong recovery, once China lifts its ban on travel to Korea.
Park Hee-jun, Arirang News.