{"id":11222,"date":"2022-11-09T12:30:37","date_gmt":"2022-11-09T12:30:37","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=11222"},"modified":"2022-11-29T07:45:03","modified_gmt":"2022-11-29T07:45:03","slug":"what-trends-can-we-expect-to-see-at-singles-day-2022","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/what-trends-can-we-expect-to-see-at-singles-day-2022\/","title":{"rendered":"What trends can we expect to see on Singles\u2019 Day 2022?"},"content":{"rendered":"

Singles\u2019 Day (also known as Double 11 or 11.11) is the world\u2019s biggest shopping festival \u2013 that much became clear as soon as Alibaba launched its first Singles\u2019 Day event 14 years ago in 2009 \u2013 so how has it changed, and what do you need to be aware of this year?<\/h2>\n

Although Alibaba recorded gross merchandise volume of RMB 540.3 billion (\u00a364.9 billion) during 2021, this year looks set to be one of the most challenging yet since the launch of the festival in 2009. China has experienced a drop in consumer confidence in 2022 due to ongoing zero Covid-related disruption<\/a> in multiple cities, alongside other challenges including high youth unemployment, difficulties in the real estate sector<\/a> and a potential global recession decreasing demand for Chinese goods.<\/p>\n

\u201cChina remains one of the world’s most dynamic and technologically advanced markets, despite political headwinds. Understanding China’s political, economic, and social developments will only become more important for businesses and investors as the world enters the post-pandemic era.\u201d \u2013 Torsten Weller, China Policy Analyst, CBBC<\/p><\/blockquote>\n

Nevertheless, China is still the world\u2019s biggest e-commerce market, and we can still expect to see some mind-bogglingly large sales figures, along with some new e-commerce trends. This is CBBC\u2019s prediction of what to look out for ahead of Singles\u2019 Day 2022.<\/p>\n

\"launchpad<\/a><\/p>\n

Are Taobao and JD being knocked off the top spots?<\/strong><\/h4>\n

Social commerce platforms like Douyin (China\u2019s TikTok), Xiaohongshu<\/a>, Kuaishou and even WeChat Mini-Programs are entering the shopping festival fray, putting pressure on Taobao and JD<\/a>. Douyin is reported to be targeting an annual Gross Merchandise Value (GMV) of RMB 1.7 trillion this year. This presents challenges and opportunities for consumer brands, with the possibility of accessing new consumer markets through different channels needing to be balanced with the resources required to launch e-commerce strategies across several platforms. Nevertheless, as a recent report by Samarkand Global argued, a decentralised approach to e-commerce avoids the risk of being overly reliant on one channel or influencer to drive revenue.<\/p>\n