Biggest Buyers of Luxury Products Await Singles' Day to Get Their Fix of Handbags, Shoes and Skincare at Dealmoon.com
Luxury Brands Prepare for Server Meltdowns and Inventory Clean Outs
RICHARDSON, Texas, Nov. 5, 2018 /PRNewswire/ -- Dealmoon.com, the #1 shopping site for the world's most voracious luxury product buyers, will unveil this year's Singles' Day offers at midnight, November 4, 2018. Their virtual doors will open to 17.6M luxury-loving Chinese American millennial shoppers, 70% of whom buy something on 11/11 annually. Since Dealmoon brought Singles' Day to the awareness of American brands in 2013, response has been so brisk that some company's servers have malfunctioned, inventories have been wiped out in 48 hours, and some have earned over $7M in less than 7 hours. For this consumer, Dealmoon is a central live wire connecting some of the most storied luxury brands in the world, including Gucci.com, and many others. As is tradition, brand names are held back until the shopping frenzy begins and more than 1000 brands will be represented.
It was only a few years ago that Singles' Day was only known in China, but in June 2017 *Yahoo Finance reported that Singles' Day "blew Black Friday and Cyber Monday out of the water" to become the largest online shopping day of the year. Sales on Singles' Day outpaced U.S. commerce sales for Black Friday in 2016 ($4.7B) and Cyber Monday ($3.7B) by four times. Now, shoppers of Chinese descent are projected to consume *44% of luxury products globally by 2025 and currently 33% of luxury products are being purchased by these consumers.
"Chinese American millennials love brands like Chanel, Dior, YSL, La Mer, Estee Lauder, Hermes, Gucci and Burberry," said Co-Founder and CMO, Jennifer Wang. "Product sold on our platform on Singles' Day is growing by triple digits yearly. These brands, and others, are looking to create their highest sales of the year by being listed on Dealmoon and exposing their products to this brand-conscious shopper."
During Singles' Day last year, the top five products were La Mer Crème de la Mer, Lenovo ThinkPad X1 Carbon 5th Generation, FOREO Luna Mini 2, Dyson V6 Absolute and the Samsonite Tru-Frame Collection 28" Spinner.
Dealmoon is the brainchild of six Chinese American partners. They cornered the market to service affluent Chinese American millennials, many of whom came to the U.S. to attend university or grad school. This demographic's buying habits are making a massive impact on the luxury industry. Dealmoon built a powerful social following of 20M, their own stable of influencers and a brand name so ubiquitous, that it has become the #1 shopping advisory site for this consumer.
About: Dealmoon.com is a brand connector to reach luxury-focused Chinese-American millennial shoppers. With a ubiquitous brand reputation among shoppers of Chinese descent, Dealmoon is the #1 shopping advisory site for this demographic who are projected to consume 44% of the world's luxury product inventory by 2025. Specifically, Dealmoon provides exclusive luxury launches to 17.6M monthly site visitors, 20M social followers and the mobile app has been downloaded over 3M times. Since its inception in 2009, brands have sold over $1B through the platform, and Dealmoon is credited with bringing the formerly Chinese-only online shopping day, Singles' Day, to North America's luxury retailers. Dealmoon has been featured in TIME magazine, NASDAQ, Luxury Daily, Internet Retailer, and has offices throughout the U.S. and China. For more information, visit www.Dealmoon.com.
*Yahoo Finance, November, 2017, "Chinese Singles' Day spending blows Black Friday and Cyber Monday out of the water"
*Affluent Chinese consumers are projected to make up 44% of the global luxury consumption across the globe by 2025. This would double their current level of spending." McKinsey & Company, June, 2017
Press Contacts:
Dara Avenius / Alyson Dutch
Brown + Dutch PR, Inc. 310.456.7151
[email protected]
SOURCE Dealmoon
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