Singles day is a shopping event which takes place on 11 November each year. It was started by Alibaba in 2009 and has grown to be the largest shopping event in the world. In 2023 sales could exceed CNY 1trn ($137bn).
Given the weak economic backdrop, the current emphasis is on value for money and better consumer experiences. Can China still hit its 2023 growth targets? The focus of singles day is changing. Consumers are attracted by experiential, immersive and interactive opportunities to spend. This is reflected in some of the innovations in China's e-commerce landscape, including a focus on using influencers in videos and the gamification of shopping. Singles day 2023 is an opportunity for companies to adapt to the evolving demands of consumers. Improved distribution and a focus on sm...
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