2021 Singles' Day Insights: Brand Building in the New Consumer Era
Once a tongue-in-cheek celebration for the uncoupled, Singles’ Day has over the past 12 years evolved into a true social phenomenon with refined commercial mechanisms. With multi-platform competition, multi-content co-creation and multi-technology applications, this year more than ever, the event has become a competitive battlefield for brands and a litmus test for retailers and their ability to stand out in the new consumer era. In this report, we look at 5 key trends and observations from this year's festival. The 5 trends are:
1. New Approach: Upgrading the brand experience to better reach consumers in the new era
2. New Policy Trends: The intersection of brand centralization and platform diversification
3. New Logic: Full-funnel marketing models propel a new logic for growth, building long-term brand 'loyalists'
4. New Catalyst: Omni-channel membership experience becomes a new brand growth engine
5. New Future: Tech-based experiences empower brand marketing, with the metaverse offering a glimpse into tomorrow's possibilities.