China’s Singles Day breaks e-commerce records

China’s online shopping holiday of the Day ” single ‘broke all previous records, led by ecommrce giant Alibaba, with total purchases was greater than all Facebook’s revenue last year.

 

Billions of sales

CHina2Sales of billions in only a “single Day” online shopping now the largest annual trade show frenzy China
Online extravaganza launched by Alibaba to coincide with the traditional celebration has become the biggest annual shopping spree countries

Chinese buyers bought $ 14.3 billion of goods by e-commerce giant Alibaba alone, and this figure does not include billions more on competing sites.

This figure of $ 14.3 billion blew on expectations and beat last year’s number of 60%.

With giant billboards in the subways, signs posted in elevators, splashed advertisements through newspapers and magazines, and advertisements being thrown several times over the radio programs and primetime television, it’s hard to miss the arrival of the shopping festival “Singles Day”.

 

A Shopping Show

The online shopping show, which takes place November 11 of each year, was launched in 2009 by the e-commerce giant Alibaba. It has since become the biggest annual shopping spree Chinese consumers.

In comparison, sales on Cyber ​​Monday, which is the biggest online shopping day in the United States, reached $ 1.35 billion, according to firm ComScore data analysis.

Singles Day is held annually on November 11. The day is also called Double Eleven because of its date.

Single day was originally a mock celebration in China for people not in relationships, but in 2009, Alibaba co-opted the event and turned it into a consumer-fest for everyone, with major discounts and other promotions to attract hordes of customers online. Alibaba sales data was also closely watched as a gauge of Chinese consumption as economic growth slows.

One of the new pumping up sales channels sales of Alibaba Singles Day this year was Suning Commerce Group, in which it bought a 20% stake in August Store sales Suning count towards the total gross merchandise volume of Alibaba, as they go through final processing online, a spokesman for Alibaba said.

The company also highlighted the emphasis on international e-commerce in this single day. “In the next five years, we expect China will become the largest e-commerce market in the world for imported products,” said the president of Alibaba, Michael Evans, journalists Wednesday.

 

Singles day to come to Europe ?

 

Parcel Hero Head of Public Relations, David Jinks MILT said. “Currently Singles Day is largely centered on China, but sales of $ 14.3 billion will not go unnoticed in the West However Cyber ​​Monday, which is the biggest online shopping day, west, reached a “mere” $ 2.68bn last year. ”

David explains: “This year, experts predicted Singles Day sales of about $ 10.4 billion. This figure was broken and we believe it will not be long until the British and American buyers are as familiar with Singles Day we are now Black Friday and Cyber ​​Monday. Charismatic CEO of Alibaba Jack Ma said last year that he hopes single day will be “a global day of shopping for the United States, Europe, all over the world” within five years, and we believe that he is correct “.

 

China’s Singles Day breaks ecommerce records

“The festival shopping single Day grows every year. The importance of this date for the local retail sector is rising so rapidly that it is the dilution of the impact of traditional sales windows as the Lunar New Year and Mid-Autumn Festival, “said Jason Yu, the general director of the research unit on consumers Kantar Worldpanel China.

“Yet it would be difficult for the increased purchase of additional sales brought by the event to offset the decline in the growth of the entire retail sector.”

The growth of the retail sector has been slipping in recent years. Total sales rose 10.5 percent to 21.6 billion yuan (HK $ 26 billion) for the first three quarters of the year, compared with an increase of 12 percent last year and 13 percent in 2013.

Online shopping sales, which maintained a growth of 36 percent over the same period accounted for 12 percent of total retail sales.

David recalls: “Do not forget that Alibaba has hired former Tesco executive Amee Chande as his first boss of the UK, the Chinese e-commerce giant expands its presence in Europe. Amee will soon see its potential in the UK. Sainsbury has already joined in the event, selling bargains single day to customers in China through the website Tmall Alibaba. Tmall sets up partnerships with other UK and global brands to manage logistics and sales outside of China and widely used Tmall as a front end. Beyond China, bargain conscious British consumers were already yesterday hit the AliExpress website bargains!

David continues: “Singles Day is supremely well timed If it catches on it will take the heat out of the Black Friday-Cyber ​​Monday weekend, which is straining the supply chains of some retailers to the point. rupture. You only have to turn on the TV and there is already advertising Christmas wall-to-wall, November 11 buyers are already in full-on Christmas mode. For consumers, small traders, and everyone who wish to buy gifts and send packages in time for Christmas, Singles Day presents an opportunity to buy and send gifts bargain weeks before Black Friday madness. ”

“It would be difficult for single update to stimulate the entire retail sector because it is too small [part of] the industry,” said Yu. “But as the festival of the largest online sales the world, the day is an opportunity not only boost sales, but also to acquire new customers, promote brands and explore new trends in the industry. ”

In 2009, Alibaba has taken on November 11 – a day for people to celebrate being single – host an online shopping festival in an effort to boost sales during a traditionally slow season detail. Only 27 brands participated in this first year, breaking prices by half or more on selected products.

source

http://www.scmp.com/news/china/article/1877545/sales-worth-billions-just-singles-day-online-shopping-extravaganza-now

Advertisements

One comment

  1. Pingback: International Brands invest in Digital in China « Digital news China


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s