On Double 11, or Singles’ Day in 2013, Tmall generated an one day sales record of RMB35 billion ($5.7 billion). Tmall’s goal for transaction value on Double 11 (11 Nov 2014) is to reach RMB50 billion ($8.16 billion) in 2014.
According to a survey conducted by AdMaster, 79% of Chinese netizens plan to shop online on Double 11 with an averag spend of RMB1,371 ($224.22) with a decrease of RMB229 compared to last year’s actual spending.
In 2013, top 5 most popular categories of online goods were clothing & accessories, mobile phones & digital products, home electrical appliance, personal care and cosmetics & skincare. And in 2014, it is estimated that personal care products will be the most popular ones, followed by clothing & accessories, mobile phones & digital products, cosmetics & skincare, food & beverage.
Top 3 most popular e-commerce platforms on Double 11 e-shopping day will still be Taobao, Tmall and Jingdong; and their market share is expected to increase a lot in 2014.
The survey shows cross-screen shopping will be significant phenomenon during Singles Days 2014 (Double 11).
85% online shoppers would prefer to use Alipay on Double 11 in 2014. 68% of respondents said they prepared for Double 11 in 2013 while in 2014, most of the respondents spent one week planning.
On Double 11, Chinese online shoppers’ biggest concern is product authenticity.
Also read: Stats of Top Selling Brands on Taobao/Tmall across 18 Categories in Sep 2014
