What is better than a day dedicated to the singles? The 11 of november, chinese people celebrate the Singles Day. One of the most important event for e-commerce in China.
WHAT IS THE SINGLE DAY?
Created in 1990 by students of Nanjing (Nankin) University, this event claim celibacy. In fact, it’s an event against valentine’s day.
The event’s date, written numerically as 11.11, was associated with unattached singles.
This event, mostly celebrate by young people of major cities like Beijing (Pékin), Shanghai and Guangzhou (Canton), are celebrated with lot of festivities.
AN EVENT WHICH BECOME COMMERCIAL
For this event, retailers offer a huge number of discounts (70% off) during only 24 hours. The November 11th is become one of the most commercial event in China.
E-commerce giant Alibaba began using the China’s Singles’ Day since 2009 as a promotional event to get lonely Chinese consumers to shop.
Now, anyone, anywhere in the world can take advantage of the big discounts on offer by shopping online on Alibaba.
WHEN SINGLES DAY BECOME BETTER THAN THE BLACK FRIDAY
Most important today than the american Black Friday, the Singles Day’s sales hit new record of $25.3 Billion in 24 hours. Alibaba the e-commerce leader, realized more than 7 billion, after only 30 minutes of launching. For this special day, Alibaba organized a gala event where attendees could see on a big screen the billions of spend collected very fast. Less than 2 minutes after, the billion was reach.
WHO ARE THE ACTORS OF THIS DAY ?
Alibaba says 140,000 brands, including 60,000 international labels, will offer up over 15 million product listings this year on Tmall and Taobao (against only 100,000 last year).
Except the e-commerce giant, other retailers like JD.com did a lot of things to attract consumers and became real competitors.
INCREASE OF CROSS-BORDER PRODUCTS
We oberve an increase of the cross-border product’s sales. This increase is explain by the growing middle class in China with a high propensity to shop for foreign brands. Besides, chinese are more informed because they travel, they surf on the web, that’s why their way of consumption evolve.
Taxes applied to foreign products don’t discourage chinese consumer. They continue to consume them. The spend per buyer has increased due to the growing awareness of overseas brands in China, as well as better logistics and the perception that foreign goods are of better quality.
The more buying products are : cosmetics, products for baby and pregnant woman, shoes, clothes, accessories, bags and health products.
Also contributing to the growth is the popularity of Tmall, JD.com and Kaola, sites that have made it easier for shoppers to access a wide variety of overseas products on a platform they are familiar with.
WHICH CITIES PROMOTE CROSS-BORDER E-COMMERCE ?
Shanghai, Beijing and Hangzhou are the three cities where people promote cross-border e-commerce.
Shanghai consumers reflect 11.9% of the cross-border buyers, Beijing reflect 11.1% and Hangzhou consumers 3.8%.
Cross-border e-commerce is become the new export way for a lot of companies.
The analysis reveals that the total cross-border e-commerce sales in China are expected to reach $100.17 billion by the end of 2017, with the average spend per cross-border digital buyer at $882.
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