Another Singles Day, another shattered record. Despite China’s rising living costs, the trade war with the US, and slowing income and retail sales growth, consumers spent tens of billions of dollars this year on what is now enshrined as the world’s largest shopping holiday. On November 11, Singles Day generated $58 billion (RMB 410 billion) in gross merchandise volume (GMV) in a 24-hour period, jumping 31 percent over 2018. And like previous years, spending on Singles Day eclipsed the U.S.-based shopping holidays of Cyber Monday and Black Friday. Total online sales for the holiday weekend—spanning the five day period from Thanksgiving to Cyber Monday—was $28 billion in 2019. Read how brands are using video live streaming and other strategies to drive sales during this critical shopping event in this new article by my colleague Daniel Zipser : https://lnkd.in/fQFPz8X #china #ecommerce #retailing #singlesday …see more