November is one of the highlights for brand manufacturers and retailers every year, as not only the Christmas business is just around the corner, but also days of action such as Black Friday and the Singles ‘Day from China. Especially in the Corona year 2020, retailers are trying to compensate for the loss of sales from spring.
The Chinese e-commerce platform Alibaba, for example, simply extended Singles ‘Day to an 11-day festival and was able to almost double its turnover from 38.4 billion US dollars in the previous year to 74.1 billion US dollars. Wenjing Wang, Managing Director of Hylink Germany, believes that Singles ’Day will also be a sales driver in the German market, as retailers such as Douglas, Media-Markt and Otto are already promoting it.
Amazon also announces record sales in the worldwide advertising business for the third quarter. E-commerce platforms are therefore forced to shift more and more investments from traditional media to retail media so that they can withstand the competition.
Link to the article:
https://www.horizont.net/teaser/media/33/Inhalt-472020-323202.PDF
