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China Facts: Analysis of singles Day 2018

 

 

Consumers purchased $45 billion (314 billion remminbi or three times Black Friday and Cyber Monday combined!) worth of goods and services at Singles Day 2018. Alibaba captured 68% of total sales. A record number of multinational brands (more than 19,000) participated. This year's 24% increase, as compared with 44 % in each of the past two years, is more in line with the growth of online retail in China, however, the growth of products imported into China was much higher, at 63% on T-mall! Discounts play a big role in Singles Day sales with discounts around 30 %. At the same time, Singles Day fanned out across the globe. Alibaba, which has said its long-term goal is to get half of its total sales from overseas, brought Singles Day to the UK, France, Spain, Poland, Russia and Turkey through AliExpress. In Europe, AliExpress partnered with El Corte Inglés department store to create more than 2,000 click-and-collect pickup locations, including pop-up stores.*)

*) McKinsey & Company 7th January 2019

 

 

 

 

 

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Hans Henrik Pontoppidan
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