Research By Markets adds Market Research Report - Market Research Report on ForeSights: Singles’ Day Shopping Festival
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ForeSights: Singles’ Day Shopping Festival
The concept of Singles’ Day supposedly originated among college students in the Nanjing University in China in the early 1990s as a bonding occasion for bachelors. It was envisaged as the antithesis of Valentine’s Day, wherein singletons celebrate their ‘singledom’, splurge on themselves, or scout for partners.
Singles’ Day soon became a popular celebratory occasion for people to shop and indulge in everything from food, cosmetics and apparel to gadgets, cars and holidays tickets. Other eRetailers including JD.com and Suning jumped on the bandwagon by 2012. Alibaba also extended the festival to offline retailers in China through its New Retail model, and overseas through its own subsidiaries and strategic partnerships
This case study shows how Chinese online retailer Alibaba turned a local celebration into one of the world’s biggest shopping festivals.
– Singles’ Day resonates with the prevailing social trends in China.
– It is fueled by the consumerism boom in China, which is turn has been spurred by the country’s aspirational middle classes and high-spending Millennials.
– Customer shopping behavior is shifting from product-centric to experience-driven.
Reasons to buy
– Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
– Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
– Access valuable strategic take-outs to help direct future decision-making and inform new product development.
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