Singles' Day 2021
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Singles' Day 2021 is just around the corner and brands are furiously planning their Singles' Day campaigns to take advantage of the biggest shopping day in China. Investors are watching Alibaba's ability to grow Singles' Day performance again, and tracking luxury brands in particular to evaluate the impact of China's recent Common Prosperity on Chinese consumer's appetite for luxury goods.
Despite the impact of COVID, 2020 was a record breaking year for Singles' Day. Sales from Tmall and JD.com totaled US$115 billion — a 70% increase over $67.6 billion in 2019 — more than 4X the five-day period from Thanksgiving through Cyber Monday in the US in 2019. All in all, 250,000+ brands, 5+ million retailers and 800+ million consumers participated in Singles' Day 2020.
There is always pressure for Alibaba to grow its Singles' Day sales year-over-year, which we expect to happen again in 2021. There are some changes to the format of Singles' Day this year, which will help Alibaba to achieve its ambitious sales targets.
Alibaba is extending the Singles' Day selling cycle by adding an extended warm-up period featuring Singles' Day sales and promotions. The warm-up period starts on October 21, 2021 and continues until November 11, 2021. There is also a high sales period planned from November 1-3, providing brands with 4 peak sales days including November 11th. This essentially extends the Singles' Day holiday from 11 days in 2020 to 21 days in 2021.
In order to preview expectations for Singles' Day 2021, CLA, Coresight and C2 Global conducted a survey of 1,000 Chinese consumers. We compare responses to the same survey fielded one year ago, in advance of Singles' Day 2020.
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