When Alibaba started Singles’ Day ten years ago, the aim was modest: ensuring the survival of a business “few people knew”. It certainly exceeded expectations. Now the world’s biggest shopping festival, the event drives four times more revenue than Black Friday and Cyber Monday: generating US$1 billion in two minutes last year, and $30 billion in total.
For brands, Singles’ Day — or Double 11 — has become an unmissable opportunity to drive huge sales. But the growth and scale of the shopping event also brings challenges. Since 2009, the number of foreign merchants involved has grown Read full story ›
Source: The Drum
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