December 2021 marked one year since Hainan entered the booming offshore duty free market, Hainan Tourism Duty Free Shopping Complex (HTDF). The Moodie Davitt Report was and is still able to give us a play-by-play of everything Hainan duty free. For those not able to experience HTDF, the report painted a picture of the 30,000… Continue reading Hainan duty-free celebrates first anniversary in Sanya
Month: December 2021
How Singles Day is a Global Phenomenon Beyond Alibaba and How It’s Coming to America
Brands have continued to overlook premier opportunities to engage with their customers. To date, the global phenomenon known as Singles’ Day remains underleveraged in the Western world. Singles’ Day is a massive shopping festival launched in China by e-commerce giant Alibaba. The event, taking place on November 11 and also referred to as “Double Eleven” or “11/11” was introduced and correspondingly named for bachelors, using the number “1” to denote a single man. Singles’ Day generated approximately $139 billion for Alibaba in 2021 over an 11-day sales period, representing an almost tenfold revenue increase since the 2009 inaugural event, and saw more than 250,000 brands participate. For reference, US retailers generated only $9 billion and $10.84 billion on Black Friday and Cyber Monday, respectively. Singles’ Day revenue has consistently surpassed US Thanksgiving weekend sales since 2015.