Alibaba's annual e-commerce extravaganza is about to begin.
And as the Chinese retail giant has drawn attention to more brands to participate, retailers are selling around the world for this year's biggest shopping event.
Alibaba & # 39; s Singles "Day debuted on November 11, 2009, as a day for those who are not in romantic relationships to celebrate themselves by shopping online. The 24-hour phenomenon trounces Amazon's Prime Day. that it is expected to generate more sales than US shopping holidays Black Friday and Cyber Monday, and spend on Thanksgiving Day, according to Adobe Analytics.
Adobe, which controls online transactions at 80 of the top 1
"Think of 11.11 as the Super Bowl for brands , "said Jiang Fan, president of Alibaba's Taobao and Tmall companies, in an interview with CNBC." It's an opportunity to pull out all the stops to wow ki nesian consumers. "
Alibaba unveils the event with top fashion shows and concerts. This year, American pop singer Taylor Swift will perform at the "Countdown Gala."
The company says it has grown to more than 200,000 participating brands from 27 in 2009 and 60,000 in 2017.
The impressive sales figures, and everywhere rioting, make the event one that more American companies are finding ways to participate in – even those who do not participate in Prime Day, at that.
About 24% of US retailers say they plan to run campaigns. for the single day, Adobe said, after conducting a survey of 402 US retailers that make more than $ 500,000 a year. It will include offers on Alibaba's platforms in China and on resellers' American websites. Former Snap exec Imran Khan's new fashion website Verishop, for example, says it will drive a website-wide sale with a 25% discount.
Alibaba says the participating global brands include Apple, Estee Lauder and even some younger start-ups such as sneaker manufacturer Allbirds, who are using the event to highlight a new sustainability ad campaign.
"Some of the most innovative marketing campaigns and new product launches come from US brands this year," said Fan. "I think all eyes are on us [and 11.11] every year to see what the future of retail looks like and how to succeed in the Chinese market."
US-China trade tensions may hit US brands participating in singles "Day this year, however, said a separate study by Alix Partners.
Seventy-eight percent of people believe that their US brand consumption during Singles & # 39; will affect, while 70% say the trade war will affect their total purchases. AlixPartners surveyed 2,022 Chinese consumers about their intentions. or that Chinese consumers will choose items made outside the United States. Companies should still participate regardless or risk falling behind on Chinese consumers' radar, according to the company.
"Companies must enter the action if they are not already selling at this event, because Singles & # 39; Day Participation has become a barometer of a brand's presence o in the market, "AlixPartners CEOs Jason Ong and Michael McCool said in their report. "The brands are often judged by their success in this event, so they can't afford to miss a significant sales drive."
AlixPartner's survey also predicted that clothing, shoes and sports items would be the best-seller this year, followed by beauty products and lifestyle electronics.
On Singles & # 39; Day, "[the] China's consumer market is huge, and American brands and retailers have to think about whether they want to expand into China – whether they have products that have an advantage over local or other foreign brands, said Charlie Poon, an analyst at consulting firm Coresight Research, in an interview.
Alibaba shares have risen more than 36% so far, with its market value growing to about $ 487 billion.