{"id":11251,"date":"2022-11-14T13:00:36","date_gmt":"2022-11-14T13:00:36","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=11251"},"modified":"2022-11-29T07:45:54","modified_gmt":"2022-11-29T07:45:54","slug":"singles-day-2022-stats-and-trends","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/singles-day-2022-stats-and-trends\/","title":{"rendered":"Singles’ Day 2022 stats and trends"},"content":{"rendered":"

From the rise of Chinese brands to metaverse and virtual reality promotions, these are the major trends from the 2022 Singles\u2019 Day shopping festival<\/h2>\n

Singles\u2019 Day (aka Double 11 or 11.11) has wrapped up another year of sales. The festival \u2013 always a focal point for consumer brands and analysts alike \u2013 was under increased scrutiny this year in the face of troubled economic waters. Read on to find out what happened at the world\u2019s biggest shopping festival this year.<\/p>\n

Alibaba conceals sales figures for the first time<\/strong><\/h4>\n

For the first time since Singles\u2019 Day started in 2009, Alibaba did not disclose the gross merchandise value (GMV) made from the event, saying only that sales were in line with 2021 \u201cdespite economic and Covid-related headwinds\u201d. \u00a0JD also didn\u2019t publish any sales data.<\/p>\n

This is, of course, being read by many as a sign that sales are way below expectations. But according to digital retail analysts Syntun, the GMV of traditional e-commerce platforms like Taobao between 31 October and 11 November was RMB 934 billion. With live streaming e-commerce added in, this figure broke RMB 1 trillion.<\/p>\n

Any drop in Singles\u2019 Day sales will naturally attract a lot of attention, but the number of products being sold is still astronomical. Furthermore, for the past few years, many consumer analysts have been recommending that brands switch the focus of their Singles\u2019 Day efforts from GMV to customer loyalty and customer acquisition.<\/p>\n

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Chinese brands increase in popularity<\/strong><\/h4>\n

More than half of the top 100 brands (ranked by sales) during the first few hours of Singles\u2019 Day this year were Chinese brands according to Xinhua. Top-selling Chinese brands included down jacket brand Bosideng and Nike-challenger Anta<\/a>. However, foreign brands do still perform well in categories where product safety or quality of materials is a concern, such as skincare, pet food and childcare-related appliances.<\/p>\n

Chinese brands have been experiencing a surge of popularity in recent years, a trend known as \u2018guochao\u2019 (literally \u2018national wave\u2019), driven by both an increasing nationalist sentiment and a significant increase in quality. Traditional Chinese handicrafts or products that incorporate Chinese design elements are also surging in popularity, with JD reporting that sales of traditional cloth shoes and embroidered shoes were up 400%.<\/p>\n

Niches become mainstream<\/strong><\/h4>\n

The most popular product categories during Singles\u2019 Day are still beauty and household appliances. However, niche categories such as glamping<\/a> and skateboarding have seen massive growth driven in part by Chinese consumers looking for activities to replace the overseas travel opportunities lost to Covid. According to Alibaba, the GMV of camping and fishing products sold on Tmall within the first hour of Singles Day doubled compared to 2021.<\/p>\n