goods on major e-commerce platforms, including Tmall and Taobao, JD.com and Pinduoduo, reached 96.3 billion renminbi, or $13.2 billion, accounting for around 8.2 percent of total online sales during the period. Taking into account this year’s 10-day extension to the sales period, total sales increased 22.5 percent year-over-year.
“We expect returns to be higher this year than in previous years. Therefore, we focus on market share gains and relative performance rather than the absolute levels of growth shown in the data,” said Bernstein in a recent report. , managing director of consulting at Digital Luxury Group, chasing Singles’ Day exposure will eventually do little for brand engagement.
Jiang is widely credited with building the Tmall Super Brand Day campaign, which allowed brands to enjoy a Singles’ Day-like moment on a specific date each year.Joy Group’s color cosmetics brands Judydoll and Joocyee reported double-digit sales growth from October to November, a trend Huang attributes to the company’s focus on offline and international expansion efforts. During Singles’ Day, Joocyee opened its first stores in Chongqing and Changsha, both second-tier cities in China.
“The ebb and flow of the entire beauty market is accelerating, consumers tend to favor instant skin care results, and brands have flooded the market with single ingredient, high concentration products that treat the skin’s apparent problems, overlooking the fact that skin care is usually a prolonged process,” said Elaine Gong, founder of Simply This.