Jack Ma stood with Hollywood star Nicole Kidman during the Singles Day “See Now Buy Now” fashion show. Photo: VCG
China?s Singles Day, the one-day digital shopping frenzy on November 11, had another spectacular year. Major Chinese e-commerce players have delivered some mind-boggling sales figures. Alibaba Group broke its own record with a whopping $25 billion in sales, up from last year?s $20 billion. Its main rival JD.com also recorded a staggering $19 billion in sales.
The annual retail holiday, which started less than a decade ago, has quickly become the world?s largest online celebration of consumerism that attracts the attention of international brands and retailers like no other. Aside from the astonishing numbers, the festival has much to reveal about the state of Chinese society, ranging from online retail trends, technological developments, to consumer culture that luxury brands need to understand. Below, Jing Daily presents four post-Singles Day reflections based on our research of sales data of major e-commerce companies, media coverage, and online reactions, aiming to offer readers a comprehensive and critical lens of the event and highlight what luxury brands should learn from this year?s success.
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