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
WTF are AI agents?
Despite so much use of the A-word, it’s still early for AI agent adoption, meaning marketers should ask what agents are for, how they’re made, what they do, what they might do — and what they can’t do — including potential reputational risks.
Digiday+ Research: Marketers expect bigger budgets in 2025, with an eye on investing more in influencers
Marketers are heading into 2025 expecting bigger revenues and bigger marketing budgets — a lot of which they’ll put toward influencer marketing.
Marketers cautiously resume TikTok spending after shutdown, while some continue enacting ban measures
Some marketers are resuming their TikTok campaigns after the app’s shutdown this month, albeit warily, given the app’s unclear future.