Rakuten Marketing today releases data revealing how Australian consumers embraced Singles’ Day 2017.
Singles’ Day, held on November 11th, has eclipsed Cyber Weekend to become the world’s largest online retail event. The 24-hour period on Saturday November 11th, saw consumers spend roughly US$25.3 billion globally, a 39% increase on 2016 sales; whilst sales exceed US$7 billion in the first thirty-minutes.
Rakuten Marketing data shows that conversions for Australian retailers increased 15% on Saturday November 11th, when compared with the prior Saturday. Based on 2015 and 2016 performance data, it is expected that retail sales will continue to increase throughout the week of November 13th as local retail event Click Frenzy takes place.
Notably, mobile conversions continue to climb with 44% of Saturday’s sales taking place on a mobile device. Click-Through-Rates (CTR) increased 16%, whilst Average-Order-Value (AOV) climbed 8% from the day prior. A comparison of 2016 data across Singles’ Day, Click Frenzy and Cyber Weekend reveals that the Average-Order-Value (AOV) is highest on Singles’ Day.
Anthony Capano, Managing Director of Rakuten Marketing Asia-Pacific noted that Australian brands and consumers are leveraging international mega events such as Singles’ Day and the upcoming Cyber Weekend. “Thanks to globalisation and strong promotions from international retailers, Australian consumers are engaging with international events more than ever. It would be remiss of Australian brands to ignore international events such as Singles’ Day.”
Capano explains that aside from leveraging retail events to engage local consumers, retailers should be analysing their data to determine whether site traffic and sales are coming from international markets. “Even if your brand doesn’t ship to Asia, retailers may be surprised to find they have strong traffic and sales coming from the region. Consumers in Asia are exceptionally savvy and will engage freight forwarding companies to have their goods delivered, providing opportunity for Australian brands to enter the world’s most lucrative market.”