“Building Singles’ Day into a truly global event could be the next test for Alibaba’s momentum, while attractive, targeted, promotions, could deliver a timely boost to British retailers’ sales”.
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Singles’ Day originated from Nanjing University, where students held the first “11/11” parties in the early 1990s.
Yet not everyone is impressed with the furore around Singles’ Day.
It would take a pretty big event to cause Nordstrom, Saks Fifth Avenue, Bergdorf Goodman, Saks Off 5th, and Neiman Marcus to all align their online discount offers. Dealmoon’s shopping app boasts more than 1M downloads. Traditional non-discount luxury e-boutiques are offering deals as well. “Numerous brands offers are steeper discounts than their own Black Friday deals”, she added. Given the vast revenue generated by tourists, particularly Chinese travelers, in luxury, building those relationships now could pay dividends in the future. The drama has made the Singles’ Day event even more interesting.
“We are constantly testing new ways to connect with our customers”, said Ginger Reeder, vice president of corporate communications at Neiman Marcus Group, Dallas.
Chinese consumers are at their marks.
“We hope to enable ways for customers to shop on their terms and affiliate programs help us reach customers”, said Dan Evans, Jr., spokesperson for Nordstrom, Seattle.
Singles’ Day 2014 showcased to the world that Alibaba’s ecommerce power is to be reckoned with.
The retail giant claims its rival is “panicking because they’re losing”.
Consumers Prepare To Spend USD285, 32% More Than past year And The Payment Methods Are Diversified.
“Singles’ Day is definitely becoming a topic of conversation in the USA”, Dealmoon’s Ms. Wang said.
It is said that November 11 was picked as Singles Day because of how the date is written numerically.
2013- Singles Day surpassed sales of Cyber Monday withover $5.75 billion. Last year, on just one day the company sold 160,000 computers.
He advises that retailers selling via Alibaba on Singles Day should remember that they need to have good quantities of stock available at a good price. “But the key change we have seen this year is that a few rural areas are increasing their number of transactions very, very rapidly”.
This year, Golden Week began on October 1, putting it close to Chinese National Day and spurring increased interest in venturing beyond nearby Hong Kong to destinations such as NY, London and Paris.
For a shopping spree of this size, success does not just depend on making and breaking sales records; rather, it depends on how fast and efficiently the products are shipped to consumers.
United Kingdom retailers in particular stand to benefit from Chinese consumers’ penchant for quality British brands.
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The group timed its entry to the online Chinese market so that it would be up and running for next week’s sale and has a team of 21 full-time staff based in Shanghai doing product sourcing, sales and market research.
