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Singles’ Day 2018: Assessing the Slowdown in Total E-Commerce Growth

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Coresight Research

Key Points

  • According to data from China-based data services firm Syntun, the total transacted gross merchandise value (GMV) across various e-commerce platforms on Singles’ Day totaled ¥3 billion ($45.2 billion). Alibaba continued to take the lead in the overall sales in this year’s Singles’ Day, accounting for 67.9% market share.
  • JD.com and Suning.com strived to enhance the retail experience through technology with the former envisioning “Boundaryless Retail” and the latter adopting a smart retail strategy. Both retail companies drove sales through enhanced technologies.
  • Total Singles’ Day e-commerce sales growth slowed this year. Yet the festival continues to make China’s retail sector more vibrant, provides opportunities to acquire new customers, and accelerates online-offline integration.
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