China’s—and the world’s—biggest online shopping event, known as Singles’ Day, takes place on November 11, with Alibaba and a record number of other Chinese e-commerce companies offering massive discounts over the 24-hour period by skleb1234
China’s—and the world’s—biggest online shopping event, known as Singles’ Day, takes place on November 11, with Alibaba and a record number of other Chinese e-commerce companies offering massive discounts over the 24-hour period.
Singles’ Day rose to prominence when Alibaba successfully launched its first shopping festival on that day in 2009; now re-branded as 11/11, the event boastsIt has become by far and away the largest shopping event in the world, raking in just over $30 billion in gross merchandise volume last year—and sales are expected to hitby that same metric this year, according to Forrester Forecasts.
Alibaba, which kicks off the event by hosting extravagant fashion shows and concerts, is also bringing in: Taylor Swift is set to perform as the headliner in the opening gala this year, while Kim Kardashian did a livestream on Tmall to launch her fragrances for the shopping festival. As discounts get bigger, promotions are also getting ramped up to new levels. Social media and especially video-driven e-commerce, which has taken off in recent years, is expected to be an even bigger part of the shopping bonanza this year, according to Sophie Cheng, general manager at FutureBrand China. “Experience is becoming widely seen as one of the keys to the festival’s success, for example through celebrity endorsement and the gamification of the Alibaba platform.
Chinese consumers can shop on Alibaba’s main websites, Taobao and Tmall, to find the biggest deals, while international shoppers must use AliExpress.com.
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