Secure your place at the Digiday Media Buying Summit in Nashville, March 2-4
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
Thrive Market’s Amina Pasha believes brands that focus on trust will win in an AI-first world
Amina Pasha, CMO at Thrive Market, believes building trust can help brands differentiate themselves.
Despite flight to fame, celeb talent isn’t as sure a bet as CMOs think
Brands are leaning more heavily on celebrity talent in advertising. Marketers see guaranteed wins in working with big names, but there are hidden risks.
With AI backlash building, marketers reconsider their approach
With AI hype giving way to skepticism, advertisers are reassessing how the technology fits into their workflows and brand positioning.