Show Chinese Consumers Some Love On Singles Day (11/11)

Show Chinese Consumers Some Love On Singles Day (11/11)

5 November, 2014 - Market News

In China, there is a little day in the calendar called ‘Singles Day,’ when unattached people buy themselves gifts in celebration of their ‘singledom’. The opposite of Valentine’s Day, November 11th was originally started as a joke by some students in the early 1990s, chosen because the 11.11 resembles four single people.

11-11 Images

Far from a joke, the annual singles day event is now the most significant shopping day in the Chinese commerce calendar. Online retailer Alibaba has turned this unofficial holiday into the biggest shopping day in the world, taking over Cyber Monday sales in the US which took $2.29 Billion. The annual sales event is significant for China’s e-commerce vendors and Alibaba last year sold a record 35bn yuan ($5.7bn) in just 24 hours, Want China Times reported.

Singles Day Chart

This year TMALL are taking Singles Day Global, with TMALL CEO Wang Yulei publishing an article on Sina Tech about Alibaba’s plans for Singles Day 2014. Wang says,

“This year for Singles Day, our core keyword is globalization. Starting from this year, future Singles Days will definitely not just be for consumers in a particular region, Singles Day will be for the whole world. Everyone knows the internet is flat, and this can’t just be a thing of the past. In the future, we’re going to offer better products to the entire country and to the entire world.”

Alibabas globalisation of TMALL this year, aims to drive 43% sales growth vs. 2013, and is anticipated to take revenue’s from Tmall, its consumer-to-consumer website, to RMB50 bn (US$8.2bn).


 

TOP 5 TIPS UK BRANDS CAN USE TO CAPITALISE ON THE SINGLES DAY SHOPPING BONANZA 

Plan ahead 2

1. Plan Ahead – Get on your clients wish list by beginning promotions early. Brands should begin communicating their Singles Days campaigns at least 3 weeks to 1 month in advance to avoid being lost in the noise of other brands promoting closer to the date.

 

 

 

Screen Shot 2014-11-05 at 16.21.372. Choose Communications Platforms Wisely – Last year, mobile transactions accounted for 15 % of total Singles’ Day transactions. This year, Alibaba is driving traffic via mobile even harder. UK brands can utilise Weibo and WeChat as their first go to communications platforms for communicating their Singles Day offers. Brands without Weibo and WeChat presence should consider using ‘Key Opinion Leaders’ to communicate their offers to Chinese living in and visiting the UK.

 

 

Screen Shot 2014-11-05 at 16.30.013. Have a 1 Day Discount Strategy – Singles Day is very similar to Boxing Day in the UK. Consumers are expecting brands to provide the ultimate deal to entice them to buy. We advise that the brand discount strategy should include a 24 hour discount on at least 1 of the brands most popular consumer products. Discounts in China can go over 50%, however UK brands should consider anywhere between 20% and 30% to engage the consumer.

 

 

Quick delivery4. Deliver on time – Chinese courier services have begun enforcing pay hikes and recruiting more workers to cope with an estimated 90 million packages a day during Singles Day shopping festival. Brands in the UK will not need to worry as much about this as singles days is still relatively unknown, however , should you be running a singles day promotion ensure you have a delivery capacity to match your orders.

 

 

Offline to Online5. Capitalise on Online to Offline – Standing out in the crowded online marketplace means Singles’ Day is no longer just about listing your products online. Brands need engaging mobile and social strategies and should also consider links to the in-store experience. This is likely to be welcomed by brick-and-mortar retailers looking to develop their O2O (online to offline) strategies and capitalise on the world’s largest shopping spree.

 

Tags: , ,