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Korea's Singles' Day hunt for Chinese customers Updated: 2017-11-11 09:24:02 KST

November 11th.
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.

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"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.

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"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.
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