Insight Report 6 minutes PremiumSix Months to Singles’ Day: Is 11.11 on Your Calendar? Coresight Research May 13, 2019 Executive SummarySingles’ Day, which began as a festival of young Chinese people celebrating their pride in being single, has become the world’s largest 24-hour online shopping event in terms of gross merchandise volume (GMV). Alibaba’s platforms and JD.com are the two major players. With six months to go until Singles’ Day 2019, brands and retailers looking to participate in the event should start to plan now to ensure products, logistics, warehouse space and marketing efforts are ready. Singles’ Day 2018 generated $30.8 billion in total GMV on Alibaba’s online platforms, while JD.com reported US$23 billion in GMV. Singles’ Day, or 11.11 as the festival is also known, has grown to be so huge it can serve as a strategic entry point to the China market. To succeed on Singles’ Day, brands and retailers must leverage social media to boost consumer awareness – and incorporate Chinese cultural elements into offerings. Click here to read more Coresight coverage of Singles’ Day over the last few years. This report is for subscribers only. Learn more about subscriptions here.If you are a subscriber, please log in. This document was generated for Other research you may be interested in: US and UK Retail Bankruptcies Latest, August 2023: Wilko Administration Bucks UK Discount Growth TrendEarnings Insights 2Q23, Week 5: Burlington, Dollar Tree, Petco and Ulta Beauty Report Strong Results; Foot Locker, Gap, Kohl’s, Macy’s and Nordstrom See Sales DeclineEarnings Insights 2Q23, Week 6: Five Below and Lululemon Report Solid Results; Academy Sports, Big Lots and Signet Jewelers See Sales DeclineSurprisingly Strong In-Store Shopping Accompanies Prime Day Week: US Consumer Tracker 2023, Week 30
