Loss Prevention Research Council Weekly Series - Episode 33 - Alibaba Singles Day and Retail Innovation 2020
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Walmart selling majority physical stores stake in Japan after doing the same in Brazil, UK, and Argentina.
CVS rolling out mobile pay.
China's Singles Day rebranded to Double 11 becoming an 11 day shopping festival in 2020. $74.1 billion for Alibaba or nearly $7 billion per day. 31,766 international brands from 84 countries participated. 2.1 million small retailers onboarded. Cartier livestream with 770,000 viewers included a necklace valued at $28 million. USA brands sold $5.9 billion, largest contribution after China. 90% of brands participating exceeded sales from last year. 28 livestreaming channels exceeded $15 million each. 30,000 packages delivered by AI driven autonomous robots. At peak, 583,000 orders per second processed. Logistics handled 2.32 billion packages, up from 1.88 billion last year. Nike sold $15 in one minute. Alibaba 16X Amazon Prime Day. 800+ million consumers participated.
Euromonitor Research - Retail Innovation in 2020: What is here to stay? Absolute growth of online retailing globally from 2019-2024 will be $1.5 trillion. 56% of global retailers are looking to sell through additional digital channels in 2020. 73% of global retailers believe the shift to online sales will be permanent. 50% of global customers feel safer in standalone stores in 2020 compared to just 10% who prefer shopping centers. 35% want grab and go experiences. 45% of global retailers are looking to add perks for loyalty programs. 53% of global retailers are looking to add more online experiences such as digital events and livestreaming.
Last week 74.1 billion dollars were generated from the 2020 11.11 Global Shopping Festival, rebranded from Single’s Day to Double 11 in China. Nike sees 15 million dollars in sales in one minute. COVID-19 vaccines in phase three trials. On this week’s episode, our co-hosts discuss these topics and more, including how Walmart continues to evolve overseas, CBS’s touch-free mobile pay, threats of overthrowing the government with a smartphone, and GPS tracking options on shipments.
