Singles Day 2023

The new normal: Silver economy shines brightly as Singles' Day 2023 approaches

VALUE-BASED SHOPPING WILL MOTIVATE BARGAIN HUNTERS AND

DISCRETIONARY PURCHASERS ALIKE

In 2022, greater economic strife led Double 11

consumers to focus spend on daily necessities. This

year, Singles' Day shoppers are more willing to spend on

themselves-but rational consumption habits will drive

what they choose.

To make sensible decisions, consumers are exploring

similar products over a greater number of e-commerce

platforms to find the right deal.

Shoppers to rally around 'rational consumption'

Consumers taking part in Singles' Day this year will

display traits reflective of "rational consumption"-

where shoppers are prompted to carefully research

across retailers and channels to identify the best value

for money before making a purchase decision.

While value-based shopping is nothing new, consumers

are more prudent and knowledgeable about potential

purchases than ever before. They are carefully researching

options to discern true product differentiators, beyond

price, that warrant one option over another.

This marks a noted shift from previous editions of Singles'

Day (especially before the pandemic) when we witnessed

more indulgent gift-giving. In years' past, consumers

admitted to being heavily influenced by marketing tactics-

such as livestreaming, the key theme of our 2021 report-

into making emotional and impulsive purchases they may

not have needed. This is no longer the case. Promotional

efforts such as this will likely continue to influence

consumers but consumer feedback suggests it may have

peaked in terms of its impact, reflected by only 22% calling

out livestreaming specifically as a key reason for purchase

this year, versus 32% in 2021.

While consumers remain willing to reward themselves-

in addition to seeking the best bargains across multiple

channels-the rising quality of local brands could increase the

attractiveness of these products, simultaneously eroding some

of the brand equity from foreign brands.

call livestreaming out

as a key reason for

purchase this year,

versus 32% in 2021

ONLY

22%

20%

According to our survey, shoppers plan to purchase from

an average of 5 different platforms this year, compared to

an average of 4.3 in 2022-nearly a 20% increase.

FIGURE 2: LEADING E-COMMERCE PLATFORMS THAT CONSUMERS PURCHASE FROM ON DOUBLE 11

Survey question: Check the platforms you purchased from in last year's Double 11 and list the ones you intend to purchase from in this year's Double 11

Source: AlixPartners China Singles' Day Survey 2021 (N=2,000), 2022 (N=1,974), 2023 (N=2,150)

Purchased in last year's Singles' Day Intend to purchase in this year's Singles' Day

4.1 channels on average 5.0 channels on average

2021 2022 2023 25%

24%

27%

29%

31%

38%

40%

57%

73%

16%

18%

16%

18% 30% 39%

62%

86%

10%

11%

10%

16%

18%

32%

59%

93%

Haitao

WeChat

Kuaishou

Xiaohongshu

Suning.com

Douyin

Pinduoduo

JD.com

Taobao/Tmall

21% 31%

31%

32%

50%

55%

75%

92%

19%

18%

21%

17%

40%

38%

62%

87%

14%

21%

14%

38%

26%

67%

94%