Getting Ready for Singles’ Day 2021 – Will Chinese Marketplaces Strike New Record-Breaking Sales?
Singles’ Day is the biggest shopping day in the world led by the Chinese ecommerce giant Alibaba, taking place every year on the 11th November. As the day is right around the corner, brands and retailers are preparing their offerings in anticipation of the momentous event. With Singles’ Day up to a record $115 billion last year in 2020, will 2021 make a new record? How has shopping changed from 2020 (almost entirely online due to lockdowns) to 2021? What should brands and retailers take note of this year? What are the best practices for them to succeed? This article will take a closer look at Singles’ Day, first defining what it is before exploring the wider questions as well as key insights and takeaways for sellers and retailers alike.
The Rise of Social Shopping & How Marketplaces Facilitate this Growing Consumer Trend
Social shopping is a rising trend which is characterised by consumers making purchase decisions based on reviews, recommendations and social media posts about a product. Users can utilize social media networks in an effort to recommend and share various products or services to their family, friends or other internet users. Such behaviour is certainly on the increase – with many marketplaces attempting to blend commerce and social media in order to drive revenue.
The pandemic has fueled an offline-to-online shift and driven exponential growth across the global ecommerce sector, growth which is likely to continue even in a return to normalcy, according to Forbes. In fact, experts forecast that half of the absolute value growth for the global retail sector over the 2020-2025 period will be driven by digital ecommerce. In this rapid shift, the US, being the third-largest online market worldwide and the homeland of online marketplace giants, will play an essential role.
5 INTERESTING ECOMMERCE TRENDS HAPPENING IN CHRISTMAS 2020
What a year it has been! As we clinked our glasses to the start of 2020, nobody could have predicted the sheer disruption the pandemic would cause. In this article, we highlight five key trends affecting retailers over this Christmas shopping period and beyond.
While Black Friday 2020 is expected to be the most profitable shopping event to date, many brands and retailers are also adopting and implementing a new selling trend, recommerce, which involves the exact opposite action implied in Black Friday: labels buy back second-hand items from consumers.