Global brands are ready for the upcoming "Oriental Black Friday"

2019-10-22 07:39:23 source: Yi XUE


Alibaba’s Tmall held the launch conference of “Double 11 Global Shopping Festival in 2019” on October 21 in Shanghai. President of Tmall and Taobao Jiang Fan announced that Tmall’s official flagship stores of 200,000 brands worldwide will collectively offer massive discounts on November 11. More than 500 million people are expected to participate in the carnival on their mobile phones, which is equivalent to one in three Chinese shopping on that day.


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Taobao was the first to start the “Double 11 Global Shopping Festival”, which began on November 11, 2009. The number of businesses participating in e-commerce promotions and their discounts on that day were considered the highest in the whole year. The carnival has been held for 11 consecutive years , and the amount of transactions is increasing yearly. In 2018, the trading volume of Tmall “Double 11” reached 213.5 billion yuan. According to news reports, “Black Friday” sales in the US reached a record US$6.2 billion in 2018, but this figure is “just a small fraction” compared to Tmall “Double 11” sales.


This year's “Double 11 Global Shopping Festival” kicked off on October 21. The participating businesses had announced in advance their November 11 promotions, and opened their “reservation” link on the e-commerce platform. If consumers reserve the item by paying a small amount of deposit, they can get more discounts or gifts on November 11.


The launch of Tmall's “Double 11” has made the world's beauty brands busy. They not only need to release their promotional information in a timely manner, but also carefully prepare customized products to attract more consumers.


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On the first day of pre-sale, the renowned cosmetics brand Estee Lauder, recorded a transaction volume of nearly 500 million yuan in just 25 minutes, surpassing the brand’s turnover on “Double 11” last year. The brand's eye cream, which is widely loved by Chinese consumers, sold out 400,000 sets in just 36 minutes. Its turnover per day exceeded 200 million yuan.


Similar to Estee Lauder, the turnover of seven cosmetics brands including Lancome, L’Oreal, Shiseido, Helena, OLAY and Whoo also exceeded 100 million yuan in 10 minutes.


In addition to the staggering consumption data, Tmall “Double 11” has become a new product launch festival for global brands. According to Tmall statistics, one million new products will be launched at this year’s Tmall “Double 11”, and more than 50% of beauty brands will launch their Christmas gift boxes at Tmall. Brands that are popular among consumers around the world such as Lancome, SK-II, YSL, Givenchy, Shiseido, are offering 241 exclusive products for Tmall “Double 11”.


Compared with the brands that have already been operating their flagship store on Tmall, the international brands  yet to launch on the Tmall platform are more anxious. If they don’t work harder, they will miss this year's largest e-commerce shopping festival.


Over 20 global luxury brands including Chanel, Michael Kors and Acne Studios have recently opened their flagship store at Tmall. The number of luxury brands participating in Tmall “Double 11” has reached 93 this year.


With the attention of global brands and increasing participation of consumers, Tmall “Double 11” is not only regarded as a shopping festival, but also a testament to the vitality of China’s economy.

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Alibaba’s Tmall held the launch conference of “Double 11 Global Shopping Festival in 2019” on October 21 in Shanghai. President of Tmall and Taobao Jiang Fan announced that Tmall’s official flagship stores of 200,000 brands worldwide will collectively offer massive discounts on November 11. More than 500 million people are expected to participate in the carnival on their mobile phones, which is equivalent to one in three Chinese shopping on that day.


1.jpg


Taobao was the first to start the “Double 11 Global Shopping Festival”, which began on November 11, 2009. The number of businesses participating in e-commerce promotions and their discounts on that day were considered the highest in the whole year. The carnival has been held for 11 consecutive years , and the amount of transactions is increasing yearly. In 2018, the trading volume of Tmall “Double 11” reached 213.5 billion yuan. According to news reports, “Black Friday” sales in the US reached a record US$6.2 billion in 2018, but this figure is “just a small fraction” compared to Tmall “Double 11” sales.


This year's “Double 11 Global Shopping Festival” kicked off on October 21. The participating businesses had announced in advance their November 11 promotions, and opened their “reservation” link on the e-commerce platform. If consumers reserve the item by paying a small amount of deposit, they can get more discounts or gifts on November 11.


The launch of Tmall's “Double 11” has made the world's beauty brands busy. They not only need to release their promotional information in a timely manner, but also carefully prepare customized products to attract more consumers.


2.png


On the first day of pre-sale, the renowned cosmetics brand Estee Lauder, recorded a transaction volume of nearly 500 million yuan in just 25 minutes, surpassing the brand’s turnover on “Double 11” last year. The brand's eye cream, which is widely loved by Chinese consumers, sold out 400,000 sets in just 36 minutes. Its turnover per day exceeded 200 million yuan.


Similar to Estee Lauder, the turnover of seven cosmetics brands including Lancome, L’Oreal, Shiseido, Helena, OLAY and Whoo also exceeded 100 million yuan in 10 minutes.


In addition to the staggering consumption data, Tmall “Double 11” has become a new product launch festival for global brands. According to Tmall statistics, one million new products will be launched at this year’s Tmall “Double 11”, and more than 50% of beauty brands will launch their Christmas gift boxes at Tmall. Brands that are popular among consumers around the world such as Lancome, SK-II, YSL, Givenchy, Shiseido, are offering 241 exclusive products for Tmall “Double 11”.


Compared with the brands that have already been operating their flagship store on Tmall, the international brands  yet to launch on the Tmall platform are more anxious. If they don’t work harder, they will miss this year's largest e-commerce shopping festival.


Over 20 global luxury brands including Chanel, Michael Kors and Acne Studios have recently opened their flagship store at Tmall. The number of luxury brands participating in Tmall “Double 11” has reached 93 this year.


With the attention of global brands and increasing participation of consumers, Tmall “Double 11” is not only regarded as a shopping festival, but also a testament to the vitality of China’s economy.

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