Singles' Day (November 11th) officially kicked off the 2019 holiday season. To find out how the Chinese shopping event went this year, we sat down with Jennifer Wang, the CMO of Dealmoon.
Read on to find out more about Singles' Day 2019 learnings, trends, and advice for Advertisers who are looking to capitalize on the shopping energy post Singles' Day 2019 (two words: Doubles Day!)
CJ: Tell us about your company/business model. How long have you been in business? What makes your brand unique?
Jennifer: Dealmoon is the largest shopping advisory site for Chinese Expats, with a proprietary social community including a network of KOLs (key opinion leaders) and KOCs (key opinion consumers). We create highly targeted original content based on what our audience will find interesting with the ability to tweak messaging based on audience feedback and engagement.
This past March was our 10th birthday! The founders and I started the company as an advice blog to help others who were also coming over from China, and settling in the United States, as we had. Ten years later, we’re now a Global Social Network and Shopping Community, with platforms in the U.S., U.K., China, Germany, France, Canada and Australia.
Our deep understanding of this community makes us a unique, strategic media partner for Advertisers. We’re able to reach this highly affluent audience and not only drive them to convert, but also create long-term user/brand relationships on our platform.
CJ: Who is your audience? What do they care about? What is their shopping behavior like?
Jennifer: Dealmoon’s audience are mainly Chinese expats, with the majority being Millennials and Gen-Z’ers with high discretionary spend. They utilize our platform to discover new brands and love trying new products. They depend on our editorial team’s recommendations about brands and products, but also consider the feedback of friends and family who are sharing their opinion.
In addition, our users really care about feeling special, and each purchase they make is a storytelling opportunity for them. Therefore, the details of a purchase are very important for our audience—they’re looking for beautiful packaging and high-quality goods. Last but not least, Dealmoon’s audience members tend to be extremely independent and tech-savvy. Because of the prevalence of mobile payment and mobile wallets in China, our audience has a higher propensity to transact on a mobile device than a Western shopper. They are a highly engaged, savvy and discerning shopper.
CJ: What is Dealmoon’s relationship to Singles' Day? How have you seen Singles' Day evolve over time?
Jennifer: Now that Singles' Day has become more mainstream, we’re very proud to say we brought this shopping holiday to the U.S. in 2013. It has become a holiday that is now vital to many Advertisers’ yearly strategies. Back in 2013, most of our Advertisers had never even heard of Singles' Day. Now, almost all Advertisers have heard of the holiday, and are extremely excited to participate!
"On Singles' Day, most Dealmoon users come to the platform with a mindset to purchase. Similar to anyone with a Christmas wish list, they have items in mind that they’re ready to buy."
CJ: What does preparation for Singles' Day look like at Dealmoon? How might your strategy shift as you head into Singles' Day 2020 or into the holiday shopping season?
Jennifer: On Singles' Day, most Dealmoon users come to the platform with a mindset to purchase. Similar to anyone with a Christmas wish list, they have items in mind that they’re ready to buy. Advertisers who consider us a media partner and have established a long-term strategy utilizing a 360 approach to their campaigns (i.e. focusing on Editorial Content, User Product Reviews and KOL campaigns in addition to driving demand) have seen the greatest YOY growth during the shopping holidays. Heading into 2020, the approach would remain consistent but video editorials and bridging the online-offline experience will play a heavier role.
CJ: What types of products/retailers resonated the most with your audience for Singles' Day 2019? Any hot new trends?
Jennifer: Our strongest categories have always been luxury beauty and fashion, but, as our audience continues to grow and evolve, we have anticipated and invested resources to fuel growth in many other areas. This season, in particular, we’ve seen tremendous growth in Kids, Home, and Travel and expect to see that trend continue into the future. Our consumer is ever evolving, and our analysts are amazing at staying on top of what the “next big thing” will be.
CJ: How did Singles' Day perform this year compared to last year? Any key learnings you can share?
Jennifer: The biggest takeaway this year we saw was from our partners that were energized throughout the year with branding campaigns (i.e. User Product Reviews, Video, and KOL reviews). Those Advertisers saw the largest growth YOY. For example, one relatively small fashion brand generated over a quarter of a million dollars in sales during Single’s Day, while last year, our audience would not have recognized that brand.
CJ: What are best practices for Advertisers who want to work with Dealmoon around Singles' Day 2020 or the upcoming holidays? Are there any specific “wish list” items that Advertisers need to offer to see the best results from your audience?
Jennifer: The best strategy is to vary the key moments throughout the year, pair featured products with a product review to have an authentic perspective on the item then save the best sale events for Q4 - Singles' Day/Black Friday. Our team is always available to brainstorm and consult with clients based on their objectives to create a custom recommendation tailored to their goals.
CJ: Do you have any other advice for Advertisers that want to leverage the shopping energy post Singles' Day 2019?
Jennifer: “Doubles Day” on 12/12, is the follow-up to Singles' Day. It’s a perfect fit for those last-minute holiday shoppers or anyone who wants to get a head start on their gifts for family and friends when they return to China for Chinese New Year. We are encouraging our partners who had Singles' Day offers to rerun those offers on Doubles Day for maximum performance.