What International Retailers Can Learn from Singles’ Day 2024
In 1993, a group of Chinese students wanted to celebrate being single. What began as a one-day celebration on November 11 has grown into one of the world’s largest online shopping events – one that spans several weeks. Initiated by online retailer Alibaba in 2009, the event has become a showcase for digital innovation and marketing prowess, offering valuable lessons for international retailers aiming to elevate their own sales events.
This year Alibaba reported robust growth in sales as well as a record number of shoppers taking in part in the Single’s Day period. The second-largest e-commerce company in China reported a 20% year-over-year increase in shoppers during the event, and data provider Syntun estimated that sales rose 26.6% to 1.44 trillion yuan.
While some reports predicted less growth this year, Singles’ Day is still very much one of the biggest shopping events of the year, and something that retailers can learn from to inform their strategy in 2025 and beyond. Here are our top learnings and trends from this year’s Singles’ Day:
1. Leverage AI and Automation
The top three e-commerce giants in China utilise AI and automation in various ways. Alibaba has Quanzhantui, an AI tool that assists more than 250,000 merchants across 1.3 million products, helping to optimize sales strategies. This resulted in a 66% increase in GMV on the first day of the Singles’ Day period. JD.com leverages AI-driven chatbots to improve customer service, offering real-time support and tailored recommendations, and Pinduoduo applies AI to analyse market trends and customer preferences, enabling dynamic pricing and customized discounts.
2. Pricing and Customer Sentiment
Singles’ Day, like its Black Friday counterpart, used to be just one day with frenzied shoppers looking for any deal they could find. This year showed customer sentiment is changing, with people looking more for good deals on expensive products that they have carefully researched and really need/want. Now that shopping holidays are expanding their reach and not limited to just one day, customers have more time to think about their purchases.
3. Optimize Your Online Presence
Ensure your website is prepared to handle more traffic than usual. The entire online experience should be mobile compatible so customers don’t drop off if the checkout process is clunky. Another thing to consider is where your customers are coming from. While Singles’ Day originated in China, the event has spread globally and customers from all over the world will be looking to snag a deal. But with 65% of consumers preferring to consume content in their own language, having a localized digital experience will up your chances of selling to them.
4. Offer Layered Discounts and Early Access
Chinese platforms employ layered discounts and membership perks, encouraging consumers to engage early. In the 2024 lead-up, Alibaba recorded a significant increase in pre-orders, particularly from loyalty program members. By offering staggered discounts, exclusive memberships, and early access deals, retailers can build momentum before their sales events, leading to maximized engagement and sales.
If you’d like to develop your strategy in 2025 to attract more customers and grow your company’s footprint, get in touch to speak to our retail experts and kickstart your expansion journey.
