Retailers must adopt a digital-first approach to improve physical shopping experiences. Plus, the global spending on China’s Singles’ Day blows away how much shoppers spent on Amazon Prime Day, and Amazon pushes to simplify holiday gift-giving with its new address-free tool.
Data:
$74B: Amount shoppers spent on Alibaba’s online platforms during the Singles’ Day celebration in 2020.
$15M; $49B: Amount raised on Singles’ Day 2021 by Alibaba’s 400 brands and JD.com, respectively.
50%; 9%: Share of eCommerce market and consumers’ overall retail spending, respectively, owned by Amazon.
33%; 28%: Share of Gen Z and millennial shoppers, respectively, who plan to spend more this holiday season than last year.
70%: Share of all Visa face-to-face transactions done with tap-to-pay, excluding the U.S.
