At a Glance
Countries mentioned: China
Key Companies: Alibaba, JD.com
Essential stats: During 2021 Singles’ Day events, gross merchandise value (GMV) of leading ecommerce player Alibaba grew by 8.5% to RMB 540.3 billion ($78.28 billion), while that of JD.com rose by 28.6% to RMB 349.1 billion ($50.58 billion).
The opportunity: Singles’ Day serves as a platform for global brands and retailers to not only sell to the world’s second-largest retail market, but also test new retail technologies and experiences with some of the most digital-savvy consumers.