Hi, and welcome to Kibo’s Marketing Minute where we share digital marketing tips, trends, and news from the eCommerce industry in about a minute.
I’m Bryant Goodall, the Digital Marketing Manager at Kibo and here’s what’s happening:
The numbers are in for last year’s Black Friday and Cyber Monday sales crushing the 2016 numbers by close to 17% year over year. Online shoppers spent more than $6.5 billion on Cyber Monday, making it the largest U.S. online shopping day in history. These are extremely impressive numbers with the foregone conclusion that they’ll continue to increase in the future.
However, have you ever heard of Single’s Day in China? Last year Alibaba’s record-breaking sales event brought in more than $25 billion in revenue in 24-hours with half of that coming within two hours alone. The event that started as a protest to Valentine’s Day grew 39% from 2016 to 2017 and with the growing middle class population of China, it’s expected to continue it’s exponential growth.
News like this isn’t supposed to make you jump ship from the American market to the Chinese but it does bring up two things you should be considering as an online marketer: first, if you’re targeting outside of the United States, it’s important to do a thorough research of the regions you’re marketing in. Regional marketing opportunities like this abound and can be capitalized on. You do not want to miss out on a high-volume opportunity because you were unaware of it or didn’t do your research.
Secondly, do you have an order management system that allows you to capitalize on those opportunities? Working within the nuances of international trade can be complicated at best and a nightmare at worst. Partnering with a solution that can deliver your products internationally, efficiently, and at the lowest cost is now a must if you’re going to target outside the U.S. Leveraging your online store for global reach now gives you the opportunity to sell to the world.
For more information check out Kibo’s blog, The Omni Channel, and let’s keep the conversation going in the comment section below.