For Alibaba, the future is actually retail. in addition to also a lot of the idea.
that will Saturday, the Chinese e-commerce giant will hold its annual Singles Day event, which last year grossed a whopping $17.8 billion in sales, up through $14.3 billion in 2015.
To put those sales figures into perspective, Singles Day has surpassed the transaction volume for America’s Black Friday in addition to also Cyber Monday events combined, according to Fung Global Retail & Technology.
The day also far outpaces Amazon’s Prime Day, which is actually the most equivalent 24-hour, online shopping experience inside U.S.
Held every Nov. 11, Alibaba’s Singles Day commenced as a day for those individuals not in romantic relationships to celebrate themselves by shopping online. The 24-hour phenomenon has quickly become the planet’s largest shopping day of the year.
In 2017, Singles Day is actually likely to break more records, as more than 60,000 global brands are set to participate.
Names like Lululemon, Adidas, Bose, Gap, Mac Cosmetics, Nike, Procter & Gamble, Macy’s in addition to also Zara all have a presence on Alibaba’s Tmall platform, which continues to grow. Tmall is actually essentially Alibaba’s online type of a shopping mall. Alibaba is actually also inside midst of constructing its first physical mall, right next to its corporate headquarters in eastern China.
that will year, apparel is actually the most sought-after Singles Day category, followed by household supplies in addition to also footwear, according to a survey by Fung Global. in addition to also just like shoppers get a jump-start on some Black Friday bargains inside U.S., roughly two-thirds of Fung Global’s survey respondents indicate they will start shopping for Singles Day prior to Nov. 11.
“The extension of the Singles’ Day event is actually similar to what has been happening inside US, where the influence of one-day shopping holidays is actually diminishing as retailers adopt a season-long approach to marketing in addition to also promotions,” FGRT Managing Director Deborah Weinswig wrote.
Although, Weinswig added: “While Western shopping holidays such as Prime Day in addition to also Black Friday tend to focus on discounts, Alibaba takes an entertainment-centric approach to its 11.11 festival marketing in addition to also promotions in order to engage Chinese consumers.”
Alibaba, founded by Jack Ma, has benefited in large part due to China’s growing internet population in addition to also its underdeveloped brick-in addition to also-mortar retail composition. Many of the stores in rural areas throughout the country, for example, aren’t big-name brands, nevertheless mom-in addition to also-pop shops. in addition to also Alibaba wants to change that will.
On Singles Day that will year, Alibaba will incorporate physical retailers into the event — especially inside days leading up to Nov. 11. The e-commerce giant has collaborated with roughly 50 shopping malls in China to set up pop-up shops, which will span 12 cities.
Estee Lauder’s makeup brand Mac, for example, has partnered with Alibaba to open a temporary storefront where customers can experience an augmented reality lipstick trial. There, Mac will also be promoting its deals for Singles Day, encouraging shoppers to visit Tmall.com on Saturday.
In total, Alibaba’s 2017 Singles Day is actually promising 15 million product listings through more than 140,000 different brands.
Also leading up to Saturday, Alibaba held a “See at that will point, Buy at that will point” fashion show on Halloween, where audience members could shop designs’ looks immediately through Tmall in addition to also additional Alibaba-affiliated platforms.
“The value in addition to also reach of a customer-engaging fashion show like ‘See at that will point, Buy at that will point’ is actually far greater for brands than just placing their products at a traditional brick-in addition to also-mortar store,” Alibaba chief marketing officer Chris Tung said about the event.
During the show, Adidas used 3-D technology to flash images onto designs, while watch some sort of Tag Hauer outfitted dancers in glow-in-the-dark costumes. Gap was another global participant, doing its second appearance at “See at that will point, Buy at that will point.”
On Friday night, Alibaba will hold its famous countdown celebration, which will feature singer Pharrell Williams. Last year’s gala drew celebrity attendees such as Kobe Bryant in addition to also David Beckham.