It only took seven minutes for sales during this year’s Singles’ Day in China to hit $1 billion, and peak order volume, during the first house, hit a record-breaking 175,000 orders per second.
The scale of the one-day shopping event, centered around Alibaba’s shopping platforms Tmall and Taobao, has been magnetic to fashion brands hoping to boost overall revenue and connect with the Asian consumer. (While it originated in China in 1999, it has since expanded to include Hong Kong, Taiwan and Macau as well.) Even though discounting products and participating in a day associated with frantic bargain shopping might oppose the ethos of luxury brands, Singles’ Day has simply become too big to resist.
To read the rest of this story, please visit Glossy.
More in Marketing
Why Kai Cenat’s record-breaking subathon was a double-edged sword for Twitch
Cenat’s ascension demonstrates a potential weakness of Twitch. It’s a tremendously useful springboard into cultural relevance, but once a creator builds a presence on Twitch, there’s nothing stopping them from bringing both their audience and advertisers elsewhere.
Retailers are making a play for brand dollars, but advertisers aren’t convinced just yet
Until measurement and return on ad spend challenges are solved within the RMN ecosystem, advertisers don’t seem interested in parting with brand marketing dollars.
The curation conundrum: separating fact from fiction in ad tech’s latest obsession
Ad tech’s obsession with “curation” has sparked plenty of chatter — some informed, some less so.