Chinese etailer Alibaba’s Singles’ Day shopping event registered record-breaking sales for the 11th consecutive year.
The 24-hour online shopping event – this year launched by pop star Taylor Swift – made more than $30.8bn (£23bn) in sales in 16.5 hours.
The Chinese online giant, founded by Jack Ma, hit $1bn in sales in just over a minute of trading during the one-day event.
Alibaba invented the sales event in 2009 to encourage single people to buy a gift for themselves as a tongue-in-cheek anti-Valentine’s Day.
The sale is now the biggest online event exceeding last year’s Black Friday and Cyber Monday sales combined.
Alibaba managing director of the UK, the Netherlands and Nordics David Lloyd said: “Alibaba’s Global Shopping Festival offers a fascinating insight into the future of retail in China.
“For the brands that take part, it’s not just about sales and engagement, but brand-building, using entertainment, data-driven product innovation, consumer insights and star power to attract shoppers.
“One of the most exciting new trends in consumer engagement is live streaming – particularly for international brands looking to reach new customers. Working with key opinion leaders via live streaming is an extraordinarily powerful way to bring products to life.
“Consumer beauty tech brand Smoothskin, an intense pulsed light hair removal business based in Swansea is a standout example of a UK brand that has successfully incorporated live streaming into its China growth and marketing strategy, particularly around the Global Shopping Festival this year.”
No comments yet