UK retailers ‘to benefit from China Singles’ Day’

British retailers are expected to benefit from a bumper China Singles’ Day on November 11, according to predictions from Worldpay.

New data reveals that last year’s shopping event grew by 39 per cent globally, generating more than double the total online sales from Black Friday (137 per cent).

UK businesses alone enjoyed a 19 per cent uplift in China Singles’ Day sales in 2016, and Worldpay is predicting the 11 November event will be even bigger this year, as the weak pound attracts an influx of “Brexit bargain hunters”.

Worldpay’s transaction data supports recent findings from the Global E-commerce Leaders Forum (GELF), which revealed the rise in consumer spending power in China is translating into growing sales on Western e-commerce sites, as more Chinese shoppers than ever before seek genuine products from iconic global brands.

Maria Prados, VP global retail at Worldpay, said: “For UK businesses looking to break into the huge Chinese e-commerce market, Singles’ Day should be an important landmark in the calendar year. The current economic climate means international shoppers get more for their money when buying British.

“Combined with the rising purchasing power of the Chinese consumer, the pound’s performance could mean big bucks for UK brands on 11 November, but only if they are well prepared.

“To turn browsers into buyers, it is essential to tailor the online shopping experience to local tastes. For Chinese consumers, this means focusing on your mobile proposition. Shoppers expect to use their preferred payment option – increasingly e-wallets like Alipay and WeChat Pay – and merchants should offer a cutting edge checkout experience to attract tech savvy consumers.”

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