What's Bigger Than Black Friday and Cyber Monday Combined?
World Singles Day is a 24-hour annual event, conceived by Alibaba, that is the biggest e-commerce day in the world. Case in point: More items are bought during the 24 hours of Singles Day than the entire combined Black Friday and Cyber Monday sales in the U.S., grossing $25B in revenue in 2017.
The date is always 11/11 – playing up the singularity of the number 1 and celebrating how individuals can treat themselves to items on-sale without the need for a partner or their input. But what does it mean for global retailers and how do you prep your participation?
For the biggest online shopping day in the world, US brands should not only participate but prepare:
• Understand the audience: your brand needs to build its presence in China and understand the needs of their particular social platforms. Learn about WeChat and Weibo and be there making an impact before Singles Day.
• Streamline logistics: this is the event that inspired Prime Day and sold $1B in the first two minutes in 2017, so beware that the audience is ready to buy. Ensure your inventory and shipping process is planned accordingly for getting product to consumers abroad in a timely manner.
• Be mobile first: Last year, 90% of Singles Day sales happened on mobile. Ensure the ease of use, discovery and purchase on your mobile platforms and promote through WeChat and Weibo first.