Thursday, 1 November 2018

Singles’ Day - The World’s Biggest Shopping Day of the Year!


 
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Forget Black Friday; Singles’ Day is what your advertising budget should be focusing on! China’s (and the world’s!) biggest online shopping event happens on Nov 11th, where there will be more sold in one day in China than during the entire Christmas period from Nov 1st - Dec 26th in the United States. The yearly Holiday begins at midnight on Nov 11th and runs for 24 hours, featuring loads of amazing deals and steep discounts-- all driven by the main Alibaba-owned platform, Tmall. Basically, it’s the Asian variant of the United States Black Friday and Cyber Monday shopping sales… except it's much much bigger than the two combined.
Singles’ Day is known for record-breaking sales, in 2016 Alibaba made a staggering $17.8 billion! $5 billion in the first hour alone! The predictions for 2018 estimate that there will be over 15 million products from more than 140,000 brands, including 60,000 international brands, offering discounts on Tmall. An increase of 100,000 over 2017. Other ecommerce platforms, like JD.com, will also be rolling out massive sales and deep discounts in order to attract shoppers and remain competitive.  
In 2017, Total Gross Merchandise Volume (GMV) hit US $1 billion in the first two minutes of Singles’ Day sales.
Global Footprint
Alibaba founder, Jack Ma told CNN in 2016, “We want to make this a global holiday, a global festival for every consumer… We want [to] help global small business…” And true to his words, Singles’ Day 2018 will have an increased focus on global sales, as Tmall brings 100 Chinese brands overseas, offering special promotions targeting millions of consumers around the world.
Luxury Brands
There will also be a heavy focus on luxury items this year, due to the strategic partnerships Alibaba has formed with international fashion luxury brands like Jason Wu, Opening Ceremony and Robert Geller. On Singles’ Day, JD.com is planning to launch a new luxury e-commerce site, TOPLIFE, in order to attract high-end consumers.
Offer the best discount that you can afford
Singles’ Day presents a unique opportunity for advertisers to engage and tap into the luxury consumer market in the Asia Pacific. Running a unique discount code during the world’s largest shopping holiday can provide the increase in sales your business needs. Plan your promotion well, provide an excellent product and customer service, and you’ll be able to continue to engage and market to the new audience you’ve attracted. (Repeat customers are a business’s bread and butter after all.)
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Posted by Director of SO-U.TV at 23:20

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