What did we learn from Alibaba’s record US$30.8 billion Singles’ Day sale?
This year witnessed a 27 per cent rise compared to 2017 at the event also known as Double 11
Alibaba’s Singles’ Day 24-hour shopping event set a record 213.5 billion yuan (US$30.8 billion) in sales this year, but what did we learn from the spree in the world’s second-biggest economy?
The gross merchandise value for the day, which is also known as Double 11, was about 27 per cent higher than last year.
Embrace simplicity
Double 11 is a huge, multi-platform, online to offline, more or less infinite business practice in China.
It blurs the lines between commerce, entertainment and everyday lifestyle.
Luxury brands have the advantage of attracting a select customer group that looks for qualities beyond discounts and saving.
Reward them with something special.
Beyond e-commerce platforms, think WeChat
As a communication platform, WeChat has a much higher open-rate than e-commerce platforms, therefore it can guide users to shop outside the traditional shopping scenarios.
Many luxury brands like Louis Vuitton and Dior already go for WeChat selling.
WeChat’s one-to-one communication style gives luxury brands more control over the user experience such as pre-sales and after-sales service.