Luxury brands embrace Singles' Day as livestreaming goes mainstream

Alibaba Group reports that orders on its e-commerce platforms during the Singles’ Day shopping extravaganza hit a record 498.2 billion yuan ($74.1 billion).

The world’s biggest sales event - eclipsing even Black Friday and Cyber Monday - spanned four main days this year.

If there were any lingering doubts about the health of China’s retail sector, the $74.1 billion in gross merchandise volume transacted during Alibaba’s 2020 11.11 Global Shopping Festival should erase them. #Double11 https://t.co/z5K4c9MWVv
— Alibaba Group (@AlibabaGroup) November 11, 2020

Of particular interest this year is the growing number of international and in particular luxury brands participating in Singles’ Day, just in case you were wondering why Alibaba Group is investing in Farfetch.

Luxury brands have embraced China's largest annual shopping spree, helping "Singles Day" break records once again. via @BBCNews https://t.co/4JSKMsaxRH
— Alibaba Group (@AlibabaGroup) November 12, 2020

This was also the year that livestreaming went mainstream, Alibaba Group says.

Livestreaming has gone mainstream in Alibaba’s digital ecosystem. Livestreamers are now online 24/7 and come from all walks of life, from farmers and personal shoppers to celebrities. Watch how they connect brands and their products with consumers. pic.twitter.com/AOL8oGbpuT
— Alibaba Group (@AlibabaGroup) November 11, 2020