Sébastien Le Belzic (in Beijing), edited by Laura Laplaud
In China, on November 11, we do not celebrate the end of the Great War, but we celebrate mass consumption. The “11.11” is the “Singles’ Day” which has become the day of the year when shopping breaks all records on Earth. Even stronger than the American “Black Friday”.
It’s the day of all records. Singles’ Day in China is celebrated commercially on the Internet. A party that garners up to 140 billion dollars in the space of a single day for this “11.11”, the singles’ day, which has become that of bargains. Sales take place on the Internet and platforms such as Alibaba or JD.com launched promotions at midnight. But this year, for the first time, the Chinese are starting to pay attention to their wallets.
“Young people are increasingly concerned about environmental issues”
The crisis, of course, has passed through there, but there is also the emergence of more responsible buyers, as Vincent Marion, co-founder of the Slingshot agency in Shanghai, explains to us. “Young people from first-tier cities like Beijing, Shanghai and Shenzhen are increasingly concerned about issues related to the environment. And for the first time, we are more on the logic of consuming better, consuming less, which is in fact a real opportunity for French brands which are positioned in a premium or even luxury segment.”
China represents a third of global luxury revenues, a figure that should reach 48% in 2025. A boon for French brands, very popular with Chinese consumers. In the country, more than one out of two purchases is made via the Internet.