Luxury and fashion categories boomed this Singles’ Day. Some luxury brands on JD.com and Tmall provided consumers with 24-month interest-free payment installments and discounted items.
Besides attractive deals, the platforms focused on bringing the luxury consumer experience online. For instance, Gucci and Prada offered gift customization services. Valentino, Canada Goose, and Coach created animated posters using AI technology. More than 20 brands engaged with consumers in private one-on-one livestreaming sessions.
From luxury and fashion to beauty, major players have obtained outstanding results during this Singles’ Day. Are Chinese consumers actually tired of the annual shopping festivity?
Fashion and luxury
For the first time, Kering’s flagship label Gucci joined Tmall’s Double 11 festivities, alongside more than 200 luxury brands. Luxury behemoths — LVMH, Richemont, Kering, Hermès, and Chanel — have released 100,000 new products altogether, including limited edition items, co-branded models, and out-of-stock blue-chip pieces.
In the first hour of Singles’ Day, sales of Gucci, Burberry, and Ralph Lauren exceeded that of the whole Double 11 day last year. On JD.com, Dior, Tiffany and Co., and Bottega Veneta’s turnover increased by more than four times year on year (YoY).
But the big winner on the platform was Italian label Valentino, whose sales expanded more than six times during the festival compared with last year. On October 24, the maison launched a dedicated campaign for Double 11, featuring celebrity and brand ambassador Guan Xiaotong sporting a selection of Rockstud handbags and footwear from Valentino’s Black Tie Fall/Winter 2023 collection.
Beauty dynamics change
In the beauty and skincare category, domestic skincare label Proya shone brightly, growing more than 120 percent in sales on JD.com. Alongside Proya, L’Oréal, Lancôme,