Alibaba’s Singles Day has broken records once again, with sales from the event surpassing USD74 billion this year, an increase of 26% versus the same period a year ago. This year’s event featured two shopping windows, the first from November 1-3, followed by a 24-hour promotion on November 11, reflecting the shift witnessed in other markets towards a more prolonged promotional calendar this year. Alibaba’s competitor JD.com also posted record results for the event, indicating strong consumption rebound in China.
International brands took center-stage across Alibaba’s marketplaces, with 31,000 overseas brands participating, benefitting from the untapped demand for globally renowned brands from Chinese consumers unable to travel. US brands led the way, generating sales of USD5.4 billion between them - the largest contribution of any overseas market. Apparel and beauty brands posted particularly strong results, with Adidas, Nike, L’Oréal and Estée Lauder all realizing sales of over RMB100 million (USD14.9 million).
With Singles Day sales now surpassing Cyber Monday and Black Friday combined each year, the magnitude of the opportunity for international brands to participate is becoming increasingly evident. As Alibaba continues to evolve the festival beyond transactions to brand marketing, collaboration and digital engagement, brands should partner to drive their digital transformation in the world’s largest ecommerce market.
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