Some ecny alipay wechat pay ecny7/14/2023 ![]() A disproportionately high amount of GMV is generated over this brief time period. In this chart, Singles’ Day GMV covers a 10-day period between Nov 1 and Nov 11 and adds together GMV from both Taobao and Tmall. 4 However, Alibaba faces formidable competitors that are trying to pull the holiday in new directions with their own marketing campaigns. Its annual domestic E-commerce revenue grew nearly 62-fold from $1.2bn in 2009 to $52bn in 2020. The first Singles’ Day shopping frenzy campaign by Alibaba was a success and it became an annual tradition.Īs the company that launched the inaugural Singles’ Day shopping frenzy, Alibaba has benefitted greatly. In 2009, in the meeting rooms of Alibaba’s Hangzhou headquarters, Alibaba strategists identified Singles’ Day as an ideal time for a mass discount sales event. The campus tradition spread around the country and became a non-official holiday. Singles’ Day can be traced back to 1993, beginning as a campus tradition at Nanjing University for single students feeling left out of Valentine’s Day. Young consumers joke about their impulsive purchases by referring to themselves as “balance payers.”Ĭhina gears up for the largest E-commerce event in world Alternative financing options are becoming increasingly common, such as consumers paying a deposit in advance and then paying the remaining balance after some time.While Alibaba launches its own campaign based on the idea of “planting grass,” competitors are pushing forward with their own creative campaigns. ![]() “Planting grass” is a term that refers to when consumers promote goods they purchased on social media.The competitive landscape for Single’s Day 2021 could be different as a result. Regulators talk of a “traffic light” for the expansion of capital, mainly referring to the anti-monopoly investigations that grabbed headlines throughout 2021.Delivery of packages to hundreds of millions of consumers requires a warlike effort and the right combination of “smart logistics” and “green logistics.” Alibaba went from delivering 200mn packages for Singles’ Day in 2013 to 1.3bn packages in 2019.On Oct 20, 2021, two influencers reportedly were able to generate $2.8bn through 12-hours of livestreaming on Taobao. Live commerce, in which influencers showcase products on livestreams, has risen meteorically in recent years.This piece examines the trends that are currently shaping Singles’ Day in 2021. ![]() In 2020, Alibaba and JD.com achieved a total of $115bn in gross merchandise value (GMV) sold. Every year online platforms like Taobao, Tmall, JD, Pinduoduo and more compete to win over the consumers from China’s burgeoning middle class. What started as a small event between a handful of college students at Nanjing University in the 1990’s later evolved into a shopping holiday of epic proportions by the late 2000’s. China’s Single’s Day is one of the most important business events in the world, often dwarfing the U.S.’s Black Friday.
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