{"id":13209,"date":"2023-11-06T06:30:31","date_gmt":"2023-11-06T06:30:31","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=13209"},"modified":"2023-11-03T15:02:19","modified_gmt":"2023-11-03T15:02:19","slug":"2023-singles-day-trends-to-look-out-for","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/2023-singles-day-trends-to-look-out-for\/","title":{"rendered":"2023 Singles\u2019 Day Trends to Look Out For"},"content":{"rendered":"

China\u2019s annual online shopping festival, Singles\u2019 Day (also known as Double 11 or 11.11), kicked off in late October and is expected to generate the usual mind-boggling figures as it enters its 15th<\/sup> year, writes Robynne Tindall<\/h2>\n

Although in recent years, some have started to question the relevance of Singles\u2019 Day (especially after Alibaba declined to release sales figures for the first time in 2022, it remains a major event on the sales calendar that brands ignore at their peril.<\/p>\n

Below, we review some of the major consumption trends that we are seeing in the run-up to Singles\u2019 Day 2023.<\/p>\n

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Sales are increasingly spread across multiple platforms<\/h4>\n

As CBBC\u2019s Celine Tang, China Business Adviser (Consumer Retail & E-Commerce), noted in our analysis of Singles\u2019 Day last year<\/a>, \u201cAn increasing number of consumers are planning to purchase products on at least three different platforms (or even more than five). This is due to different discounts being offered and consumers being more loyal to brands rather than to platforms.\u201d This is truer than ever with the rise of social commerce platforms like Pinduoduo<\/a> and Douyin<\/a>; the latter\u2019s beauty division recently achieved its highest-ever sales, exceeding RMB 113 billion (\u00a312.6 billion) in just the first three quarters of this year.<\/p>\n

Low cost vs. high value<\/h4>\n

In its early years, Singles\u2019 Day was all about low, low prices, and while the proposition has shifted somewhat in recent years, Alibaba has said it will be offering major discounts in 2023, including RMB 50 off every RMB 300 (equivalent to 17%) spent on B2C marketplace Tmall. Chinese consumers (especially middle-class consumers in tier 1 and tier 2 cities) are becoming increasingly value-sensitive, often willing to pay high prices but only if they feel they are getting a unique value proposition<\/a>. For brands, this could mean creating special product bundles for Singles\u2019 Day or even using the event to launch new or limited-edition products.<\/p>\n