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11. 11 Achieving Record Success in a Single Day!2020/11/03
What is in store for the 2020 edition of 11.11?
Wednesday, November 11th of this year will mark the 11th edition of the Double 11 (11.11) e-commerce shopping day in China known as the Singles’ Day. Since every year exceeds the previous year’s sales our expectations are high this year again.
250,000 brands have registered for the event this year, which is 50,000 more than in 2019 and another 5 million merchants are expected to participate on Tmall.
Not only are there are more brands this year, but Tmall is extending the one-day event! Singles’ Day will be a 2 phases shopping event starting with an Opening Ceremony from November 1st to November 3rd followed by the Singles’ Day shopping event on November 11th.
Our e-commerce experts at Full Jet analyzed the current market to prepare our brands for this exciting time and here are their conclusions:
The term “retailtainment” is more relevant than ever for this 11.11.
A new form of marketing has encouraged e-commerce platforms and social media to rely heavily on livestreaming and short videos. The first day of Tmall’s pre-sales proved us right! Austin Li’s live streaming hit a GMV of 3.87 billion RMB on October 21st and gained 1.73 million new followers. Across all marketing loops from omni-media product placement to the time of purchase on Tmall this strategy is essential.
Millennials and white-collar workers are the target market. However, Generation Z is a consumer group that will greatly increase sales. We also believe they will purchase mainly from trending categories, specialty goods IP collaborations and celebrity “same-style”. New growing consumer trends are gifting, trending consumers, premiumization of consumer behavior in Tier 2 & 3 cities and interest-free installment programs.
Keeping these trends in mind, our e-commerce team has been preparing and strategizing for months now! 11.11 remains the major marketing campaign for Full Jet and our brands to drive sales, as well as to attract and retain new consumers.
11.11 trends for 2020 reflect well how global e-commerce operates in China and sets standards for the next brands entering the market.
11.11 is a key tool in entering the Chinese online market and making an impact in sales.