November 11th will be the biggest, busiest and most important shopping festival in the world: China's singles day. As the day draws near, the following are the five highlights of this year's "double eleven" Shopping Festival.
1. Sales: The "Double Eleven" has become not only a part of the Chinese strategy of many businessmen, but also the "pinnacle" of the strategy. This day not only defines consumer behavior, but also determines brand's market strategy. Some brands may be prepared for 6 to 8 months, because it will account for 25% of their total annual sales. Only four countries in the world, the United States, Japan, Britain and Germany, have more online sales in a year than the Double Eleven.
2. Consumerism is no different from entertainment: Tianmao will hold a countdown party on November 10. This is a great Hollywood event, attracting 150 million to 200 million spectators. Various product launches, live shows and display activities also make it more attractive.
3. Consumerism has become a mass activity: if a brand wants to participate in the "Double Eleven" promotional activities, it must provide the lowest price goods, and must ensure adequate inventory. Even if you don't watch American football every Sunday, you'll try not to miss the Super Bowl. Similarly, although you may not be keen on shopping, you will try to buy some products on the "double eleven" online.
Four, trade friction: how will the current US China trade war affect the "double eleven"? The answer is: it will not affect, at least not this year. One of the reasons is that all relevant promotional items must enter the warehouse in China before September 1st. In addition, neither the US nor China has called for or boycotted the consumer.
Fifth, the good is better: two key trends that emerged last year are expected to expand further: 1. More international activities. In addition to China, Hong Kong and Taiwan, the "double eleven" has begun to attract the attention of Southeast Asian countries. 2., more attention should be paid to combining online and offline. All major electric providers have made important strides in integrating online system and offline footprint.
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