Getting Ready for Singles’ Day 2015: Learnings from Singles’ Day 2014

Getting Ready for Singles’ Day 2015: Learnings from Singles’ Day 2014

Getting Ready for Singles’ Day 2015: Learnings from Singles’ Day 2014 As online shoppers get ready for another Singles’ Day sale, eCommerce retailers should be taking cues from last year’s successes in order to maximize sales during Singles’ Day 2015. Singles’ Day made history in 2014 by becoming the largest eCommerce retail event in the world, with record breaking sales of $9.3 billion USD[1]. The China-born online retail event dwarfed other popular shopping holidays such as Black Friday and Cyber Monday which both brought in a total of $2.4 billion USD[2]. Singles’ Day is still far from eclipsing its western counterparts when accounting for physical retail numbers. But the success of Singles’ Day has only solidified China’s position as a global eCommerce powerhouse. The Chinese market earned $458 billion USD in online sales during 2014[3]. For eCommerce retailers looking to expand their horizons in Asia Pacific, Singles’ Day is a valuable calendar event. But before brands dive in head-first into Singles’ Day 2015, there is a lot to learn from the successes of last year’s event to help maximize impact and revenue. Focus on Mobile and Omnichannel Mobile has become a key battleground in the Asia Pacific eCommerce market. During Singles’ Day 2014, China’s biggest eCommerce company, Alibaba Group, reported that sales from mobile accounted for 42.6% of its gross merchandise volume (GMV)[4] sales. This is a drastic shift from 2013 when Alibaba’s biggest online marketplaces reported 90% of its transactions were made via traditional desktop PCs[5]. This should prompt brands to not only focus on providing an engaging mobile experience, but adopt an omnichannel approach towards their Singles’...