Save 50% on a 3-month Digiday+ membership. Ends Dec 12.
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
In Graphic Detail: Here’s what the creator economy is expected to look like in 2026
Digiday has charted its expected revenue, key platforms for creator content as well as what types of creators brands want to work with.
Ulta, Best Buy and Adidas dominate AI holiday shopping mentions
The brands that are seeing the biggest boost from this shift in consumer behavior are some of the biggest retailers.
Future of Marketing Briefing: AI confuses marketers but their own uncertainty runs deeper
That was the undercurrent at this week’s Digiday Programmatic Marketing Summit in New Orleans.