Rakuten Marketing, has today released data showcasing how Australian consumers capitalised on the world’s leading retail event Singes’ Day.
The Chinese mega event 11.11 hit a record RMB213.5billion (US$30.8 billion) at the end of November 11th, a 27 per cent Year-on-Year (YoY) increase on 2017 sales. Over 180-thousand local and international retailers participated in the 24-hour event, with sales exceeding last year’s record of US$25.3 billion by Sunday afternoon.
Rakuten Marketing data shows that Australian retailer revenue increased 16% on Sunday, November 11th, when compared with sales from November 11th 2017. Based on previous years’ retail performance data, sales are expected to continue to increase this week, with local event Click Frenzy commencing last night.
According to retail data collected across markets that Rakuten Marketing operates in, apparel and accessories were the strongest performing category with global YoY growth of 11% and 8% growth in Australia. Department stores globally also experienced strong growth, up 23% YoY.
For Aussie consumers, desktop/laptop was the device of choice driving 61% of conversions, with sales peaking at lunchtime on Sunday, November 11th.
JJ Eastwood, Managing Director of Rakuten Marketing Asia-Pacific, noted that Singles’ Day participation from local retailers is largely driven by Aussie consumers who are taking advantage of international retail events in the lead up to the holiday season. “Strong November promotions from international retailers means consumers now have more options for purchasing heavily discounted holiday items. Singles’ Day is a tremendous opportunity for Australian retailers to leverage the international event and attract new consumers.”
Eastwood explains that aside from engaging local consumers, retailers are analysing their site data to determine which international markets sales are coming from. “Australia is among the top 5 countries selling to China, and savvy Aussie retailers are capitalising on the desire for local products by Chinese consumers. Retailers who don’t currently ship to China or have a Chinese website can still reach this lucrative market by exploring strategic partnerships with local publishers who can facilitate everything from translations, shipping, payments and customer service.”