As the biggest shopping event of the year, Singles Day 2019 did not disappoint!
Also known as 2019 Global Shopping Festival, Singles Day 2019 took the world by storm last week with Alibaba generating RMB268.4 billion (US $38.4 billion) in gross merchandise volume in just 24 hours according to published figures. A 26% increase from 2018, the total number of delivery orders reached a new high of 1.3 billion with nearly 300 brands generating sales of RMB 100 million (US $14.3 million), and 15 brands surpassing RMB 1 billion (US $143.0 million) in gross merchandise volume.
The importance of this shopping bonanza cannot be understated. Blurring the lines between entertainment and shopping, this weeklong festival culminating on 11.11, puts a spotlight on entirely new consumer shopping behaviors and offers a glimpse into the next wave of retail – End-to-End Commerce.
Click here to read about the trends and implications to the future of end-to-end commerce in the Geometry Trends Report.