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Alibaba to kick off extended Singles’ Day campaign in October, as world’s largest shopping festival faces economic headwinds

  • Alibaba will commence its Singles’ Day presales activity from 8pm on October 24, enabling consumers to make deposits on goods for a low price
  • Expectations are low for this year’s event because of China’s slowing economy and disruptions from Covid-19 control measures

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Alibaba Group Holding’s sales from its Singles’ Day promotion last year grew at their slowest rate since the e-commerce giant’s first campaign in 2009. Photo: Bloomberg
Tracy Qu
Alibaba Group Holding will again kick-start its annual Singles’ Day promotion via a lengthy presales campaign in late October, weeks ahead of the November 11 event, as the e-commerce giant contends with China’s flagging economy and disruptions from Covid-19 control measures across the country.
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The Hangzhou-based company will commence presales activity from 8pm on October 24, according to multiple Chinese media reports. Alibaba, owner of the South China Morning Post, confirmed the published information on Thursday.

During presales, consumers are expected to initially pay a deposit for goods to secure a low price. Payments are to be completed during the two-part checkout period from 8pm on October 31 and on November 10 at the same time.

Singles’ Day, known as the world’s largest online shopping festival, is seen by many investors as a proxy for consumer spending in China as well as an important barometer of the country’s economic health. Alibaba branded it as an annual extravaganza in 2009, offering discounts of at least 50 per cent from its Chinese online retail platforms and free nationwide shipping.

02:26

Singles’ Day 2021 in China shifts focus from consumerism to social responsibility

Singles’ Day 2021 in China shifts focus from consumerism to social responsibility
Expectations for this year’s “11.11” event are not as buoyant as previous years, reflecting the state of China’s slowing economy, the disruptions caused by lockdowns and Beijing’s zero-Covid-19 policy, and the impact of regulatory crackdowns on the e-commerce industry.
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It is better to “lower expectations” this year, according to Zhang Yi, chief executive at iiMedia Research.

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