This year has been an extraordinary year with brands and retailers feeling the impact of global lockdowns and changing consumer behaviour.
Even in China, where consumers are among the most optimistic and economically stable in the world, there are still many hurdles to cross.
Thus, it is no surprise that this year, brands, analysts and experts the world over, are waiting in anticipation for today’s Single’s Day reports.
In these turbulent times Alibaba has attracted more than 2,600 new international brands to their TMall platform, including luxury powerhouse brands such as Cartier, Montblanc, Prada, Miu Miu, Alexander Wang and Balenciaga, which have all opened digital flagship stores to counterbalance the restrictions on brick and mortar shopping this year.
For analysts and brands looking at China, Single’s Day 2020 will not only show the true extent of Chinese consumer spending power Post-Covid but will also provide a solid indication of key changes in consumer trends.
For those brands new to Tmall, 11.11 will be Alibaba’s biggest chance to prove themselves. With over 250,000 brands and 5 million merchants taking part this year, this is a festival like no other!
So, what are the key changes in 2020 compared to 2019?
Alibaba made several key changes this year, aiming to offset the impact of the pandemic on the festival:
The festival was extended, with two pre-sale periods to drive traffic, and two flash sale periods. One for SME brands, new brands and new products, and one for global brands with big discounts similar to previous years. This is no longer a 1-day event, as seen a few years ago but a campaign over a number of weeks.
The Double Eleven festival is known for breaking records year-after-year and in many ways this year
was no different.
The retail industry in the UK has been hit hard in 2020 but demand for European brands is at an all time high in China
If you want to find out how to target Chinese consumers ahead of 12.12 and Chinese New Year festivals, get in touch with us at firstname.lastname@example.org.
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