Singles Day in China — also known as “11.11” to signify four singles on Nov. 11 – has become an e-commerce bonanza for retailers offering their products to a new internet-savvy generation wishing to purchase gifts for themselves or for a potential mate.
In just the first 15 hours of Singles Day last year, $13.4 billion in sales were recorded by Alibaba, which is more than four times the total e-commerce retail sales of $4 billion in the U.S. for Cyber Monday, held the first workday after Thanksgiving. It’s now become the world’s biggest online shopping day of the year.
The mushrooming e-commerce market in China, and its sheer market size, has global e-retailers scrambling to become significant retail players there. The Chinese e-commerce market offer global e-retailers, particularly those based in the U.S., a tantalizing opportunity to gain market share in China.
These opportunities come with caveats, however. China’s e-commerce landscape is fraught with pitfalls for foreign retailers who dare to enter without understanding its unique consumer landscape.
Due to the Chinese consumers’ preference of quality brands with a history of reliability, it’s critical for both mature and fledgling brands, especially e-commerce merchants, to maximize their brand awareness in the Chinese marketplace, said Dr. Sara Ye, president of international markets for iPinYou, China’s dominant demand-size platform (DSP) company for e-commerce advertising. To do that, Dr. Ye said e-commerce need help from a company that is experienced in China and knowledgeable about effective domestic e-commerce advertising.
iPinYou offers that comprehensive, informed knowledge, she said. The company has partnered with 90 percent of the Global 500 companies to traverse China’s complex, segmented domestic consumer audience. It has a successful record of providing extensive programmatic buying services in China. The company has a 59.8-percent market share of China’s brand programmatic buying, using its DSP platform for mobile, PC and video resources traffic with flexible business support. It is the first DSP that has developed strategic cooperation with all major domestic and foreign advertising agencies and agency trading desks.
The DSP service provider has been forming partnerships with globally recognized e-commerce brands, such as Amazon and Ashford, and has shared its comprehensive data on Chinese domestic consumer segments to create brand awareness in this growing, complex market. For example, Ashford achieved a daily UV increase of 210 percent and daily order quantity of 250 percent through the help of iPinYou’s big data, labeling technology and retargeting strategies.
In the most recent Singles Day Period, iPinYou’s e-commerce clients racked up an impressive list of results:
Helped 1,890 advertisers raised their brand awareness, attracted users and boosted conversions
Bought 2.7 million orders for advertisers on 11/11/2016
Generated 6.6 million orders for advertisers
Received more than 290 billion ad requests
Acquired almost 42 million users of audience
Exposed more than 10 billion ads and achieved approximately 70 million ad clicks
iPinYou has received the “Best in Class” award from Google DoubleClick, Baidu and Tencent. In December 2015, iPinYou obtained a CNY 500 million pre-IPO investment from exclusive data partner China Mobile and other investors. Beyond China Mobile, UnionPay and Asiainfo are also iPinYou strategic partners. As China’s leading DSP, iPinYou helps e-commerce engage with Chinese consumers and succeed in China market.