With the coronavirus pandemic impacting more aspects of American life every day, many are wondering how the retail sector will fare – both for big-box businesses and smaller independent operations. Ray Wimer is an assistant professor of retail practice at…
Singles Day 2019 Likely To Set Sales Records
With Singles Day approaching on November 11- an event first started in 1993 at Nanjing University and capitalized by Alibaba – retailers are gearing up for even more sales during the world’s biggest online shopping blitz.
Ray Wimer is an assistant professor of retail practice at Syracuse University’s Martin J. Whitman School of Management. Professor Wimer expects U.S. brands to see a record total of e-commerce sales even under a cloud of U.S.-China trade uncertainty.
“The biggest e-commerce shopping day is coming soon, and it isn’t Cyber Monday. It is Singles day in China, celebrated on November 11. Sales on Singles Day, an e-commerce only event, was at $37 billion in 2017, compared to Black Friday e-commerce sales at $2.36 billion, and Cyber Monday at $3.36 billion.
“I expect that a record total of e-commerce sales will be set this year even under the cloud of trade uncertainty between the U.S. and China. U.S. products continue to do well in the Chinese marketplace and we should see several U.S. brands set sales records during this holiday.”