Marketing Trends to follow of Single Days 2024

What is the Singles’ Day 2024 Recap?

November 11, known as Singles’ Day or Double 11, has become the world’s largest shopping event, surpassing other days like Black Friday. Initially created in China, this day dedicated to singles has transformed into a global shopping celebration.

Let’s take a closer look at the results of Singles’ Day 2024.

“Singles’ Day has evolved from a quirky celebration of being single to the world’s largest shopping festival, reshaping consumer behavior and retail strategies globally.” Source: South China Morning Post (scmp.com)

Origins and Evolution

Singles’ Day originated in 1993 when students at Nanjing University created the day to celebrate being single.
In 2009, Alibaba transformed it into a shopping festival with massive promotions.

Initially meant to counterbalance Valentine’s Day, Singles’ Day has evolved into a key event for all consumers, single or not.

Remarkable Growth: +20% in Buyers Compared to Last Year

JD.com reported a more than 20% increase in the number of buyers compared to last year, highlighting the growing appeal of this day.

JD.com, also known as Jingdong, is one of the largest online shopping platforms in China. Founded in 1998, it stands out for its advanced logistics network, ensuring fast and reliable deliveries nationwide.

Known for its expertise in electronics and consumer goods, JD.com’s performance confirms that Singles’ Day has become an unmissable event for Chinese consumers seeking great deals.

Exceptional Logistics to Meet Demand

With over 340,000 couriers mobilized, JD Logistics demonstrated its efficiency by ensuring rapid and reliable deliveries across the country. Strong logistics are essential to handle the surge in orders during such events.

Sustainability and Responsible Consumption

According to Reuters, consumers showed an increasing preference for eco-friendly products.

Brands integrating sustainable initiatives, such as recyclable packaging or energy-efficient items, saw rising sales. JD.com, for instance, promoted green logistics by using electric vehicles for some deliveries.

These trends highlight deep shifts shaping the future of commerce and provide brands with strategies to maximize their impact in future editions.

Changing Consumer Behaviors

A More Rational and Targeted Edition

Singles’ Day 2024 marked a shift in Chinese consumer behavior.

Instead of indulging in impulsive purchases as in previous years, consumers opted for high-quality products meeting their actual needs—often more expensive—rather than solely seeking discounts.

This reflects a more thoughtful approach to consumption, supported by economic stimulus policies and a slight recovery in household confidence.

Subsidies and Trade-In Programs Driving Appliance Sales

Government initiatives, especially subsidies for exchanging home appliances, played a pivotal role in this year’s performance.

Alibaba reported a sevenfold increase in appliance sales during the first hours of presales, compared to last year. These measures boosted demand in a key sector, with JD.com also recording double-digit growth in similar categories. Source: Reuters

Singles’ Day 2024 Summary Booming Categories

Certain categories performed exceptionally well this year. Here is the Singles’ Day 2024 summary:
Home appliances and consumer electronics emerged as the top winners, driven by attractive deals and innovative products.

Beauty products, outdoor equipment, and pet supplies also showed strong performance, reflecting shifts in consumer priorities.Here are the major product categories that saw significant growth:

• Home and Appliances: +200% compared to 2023. Bestsellers included energy-efficient air conditioners, robot vacuums, and smart toilets.
• Electronics: Sales surged, with AI-powered learning machines up 10x and computers and phones with AI features growing by 100%.
• EV Charging Stations: +95%, reflecting the rise of green solutions.

These trends underline strong consumer demand for practical, sustainable, and tech-forward products.

Emerging Enthusiasm for Toys and Collectibles

This year witnessed a surprising boom in toys and collectibles linked to popular franchises like Genshin Impact and Arknights. More than 100,000 products inspired by these universes debuted on Tmall, drawing a young and passionate audience.

Brands like Lego and Jellycat capitalized on this trend with exclusive products, with some limited-edition items selling out within seconds.

Less Price Wars, More Strategy

E-commerce platforms adopted a more strategic approach this year, reducing excessive price cuts seen in past editions. Experts note that this return to rationality, combined with economic stimulus measures, maintained a positive dynamic.

The Role of Social Commerce

Businesses maximized their success through strategies centered on social commerce, with platforms like Xiaohongshu and Douyin playing key roles in engaging consumers.

Live streaming and user reviews helped significantly in converting interest into purchases. User-generated content (UGC) also continued to prove effective throughout this Singles’ Day. Here is our Guide of Marketing via live-streaming in 2024

Global Reach Expansion

Companies like JD.com leveraged Singles’ Day to strengthen their international presence, such as through its European retail arm Ochama. Sales of small Chinese appliances doubled, confirming that the event is no longer limited to China but appeals to a global audience.

Luxury Sector Struggles

While the luxury sector experienced a slowdown (according to Reuters), Singles’ Day 2024 still saw strong demand for premium goods in categories like personal care, outdoor activities, and toys.

This shift reflects evolving consumer priorities toward experiences, hobbies, and health. Record platform subsidies and membership programs, such as 88VIP d’Alibaba, further incentivized purchases of high-end branded products.

Why Does Singles’ Day Remain Unique?

• A strong cultural dimension: Celebrating independence and personal expression.
• Constant innovation: New technologies, AI, and connected products at the heart of the event

A global event: Although it originated in China, Singles’ Day now attracts consumers and brands from all over the world.

Singles’ Day Recap and Key Figures for the 2024 Edition:

Sales growth: According to Syntun, sales on major e-commerce platforms increased by 26.6% compared to the previous year, reaching 1.44 trillion yuan (approximately $200 billion).

Brand performance: Alibaba announced that 45 brands, including Apple, Nike, Haier, and Midea, each exceeded 1 billion yuan (approximately $138 million) in gross merchandise volume (GMV).

Consumer participation: JD.com reported a 20% increase in the number of buyers compared to the previous year.

Comparison with Other Events:

Singles’ Day continues to outperform other global shopping events in terms of sales volume, consolidating its position as a leader in the e-commerce sector.

The 2024 edition of Singles’ Day demonstrates the resilience and continuous growth of e-commerce in China, despite global economic challenges. This event remains a key indicator of consumer confidence and innovation in the retail sector.

The Two Big Winners of Singles’ Day:

Lululemon

The Canadian activewear brand achieved a significant milestone by reaching $1 billion in revenue in China for the first time. This performance highlights the growing appeal of fitness and wellness products among Chinese consumers and Lululemon’s ability to adapt to local preferences.

Huawei

Despite fierce competition, Huawei achieved a 7% growth in smartphone sales during the festival, thanks to attractive promotions on models like the Pura 70 and Mate 60. This growth demonstrates the brand’s resilience and ability to capture consumer attention in a competitive market.

The Singles’ Day recap illustrates how well-targeted strategies and a deep understanding of the market can lead to significant growth during major commercial events like Singles’ Day.

Although precise statistics on return rates specific to Singles’ Day 2024 are not available, it is widely recognized that major promotional events, such as Singles’ Day, generally lead to a significant increase in product returns.

Sales Increase, but So Do Returns:

For example, a survey conducted in June 2023 revealed that 45% of French consumers return their online purchases, with clothing being the most frequently returned category.

This trend is often attributed to impulsive purchases or ordering multiple sizes or models to try, especially when return policies are flexible.

The Singles’ Day recap shows that merchants must anticipate these returns by optimizing their logistics chains and adapting their return policies to balance customer satisfaction with economic viability.