Staggering Sales during the Largest Retail Event

Alibaba Singles’ Day came to a close and generated US $38.4 billion (RMB 268.4 billion) of gross merchandise volume (GMV). The sales marks an increase of 26% compared to 2018. This year’s Singles’ Day featured 200,000 participating brands, one million new product launches and 1.3 billion delivery orders. While first-tier cities represent the majority of Singles’ Day’s top 10 cities by sales, tier-three and below cities represent over 55% of all consumers for Singles’ Day. Top-tier Chinese cities already have access to information about international lifestyle brands and their products, international brands should prioritize Singles’ Day as a crucial marketing event to reach China’s vastly underserved consumers in lower-tier cities. UTG knows how to better attract and engage with this ever-increasing market segment – also during Singles’ Day. As a matter of fact, UTG performed extremely well with online retail sales of more than US $ 30 million (RMB 210 million) on November 11. Let us get ready for the next one-day, Black Friday-style online shopping frenzy.