One Month to Singles’ Day: Leveraging Alibaba’s Ecosystem Fully to Drive Results
Singles’ Day, held annually on November 11, began as a festival of young Chinese people celebrating their pride in being single. Alibaba started promoting the day as a shopping day (now officially called the 11.11 Global Shopping Festival) back in 2009. Only 27 brands participated then, generating total gross merchandise volume (GMV) of $7.8 million. Last year, total GMV on Alibaba’s various platforms hit $30.8 billion, up 27% from the prior year and a huge 252% CAGR over the past nine years.
In our monthly reports counting down to Singles’ Day, we help retailers and brands prepare for the event. With one month to go, we discuss the rules for merchants for this year’s 11.11 Global Shopping Festival and what merchants need to know to grow sales not only during Singles’ Day but during other promotional events on Alibaba’s e-commerce platforms.