The results are in and Singles Day records were shattered as brands innovated, turning to gamification, virtual reality and drones
The Results are in:
- This year saw a record number of sales, growing from 14.3 billion USD to 17.8 billion USD.
- The tempo of sales was set within the first seven minutes with Gross Merchandise Value (GMV) surpassing 1.5 billion USD.
- Mobile devices accounted for 82% of sales (14.6 billion USD).
- 37% of sales were cross-border.
- The top 5 countries that bought cross-border were Japan, the U.S., South Korea, Australia and Germany.
The 4 keys to this Success:
A Futuristic Approach to Fulfilment
- Alibaba offered delivery of online offers in under two hours.
- com enhances logistics with technology, offering self-driving delivery vehicles in Beijing to office buildings and implementing delivery drones for last-mile deliveries in rural areas.
- com operated from 7 logistics centers and 234 warehouses, using automated warehouse solutions.
Gamification and Immersive Retail to Engage Customers
- Inspired by Pokémon GO, Alibaba ran an augmented reality game allowing customers to chase black cat mascots.
- Alibaba also unleashed a virtual reality shopping experience, allowing customers to experience the online store as if they were visiting a physical New York Store, using a VR headset.
- Several brands produced apps which allowed shoppers to experiment with how they would look in clothes and cosmetics using their mobiles.
Preferred Online Payments Played an Important Role
- Singles Day retailers offered Alipay, WeChat Wallet, Baidu Wallet, Visa, MasterCard and local methods like Octopus in Hong Kong.
- Cross-border payment solutions were offered for the 37% of shoppers purchasing from other countries.
Luxury Brands Drove Sales
- Burberry, Prada, Canada Goose and Maserati all got involved with Singles Day promotions
- Beauty brands led the charge, with Clarins selling facial products at 59% discounts.
- Lancôme offered the most beauty promotions.
International retailers hoping to take advantage of events like Singles Day and Black Friday will need to consider the ever-changing landscape of eCommerce. Shoppers waiting online for deals will have scoped out payment methods, delivery and fulfilment options and have an array of retailers to choose from. Retailers hoping to stand-out and cash-in on the sales-days will need to consider investment in technology, logistics, gamification and alternate payment methods.
Source: Retail Touch Points