We are excited about the reports on Singles Day, the Chinese holiday coming up on November 11. On this day last year, Alibaba handled $5.8 billion of transactions in 24 hours. That was 80% higher than what it did the prior year and three times what US retailers sold on Cyber Monday in 2013. Volumes are expected to reach $7.7 billion this year, according to Tompkins International.
Back in the US, we’re seeing a big jump in door-buster promotions for Black Friday, which can be followed on BlackFriday.com and bfads.net and many other sites.
In this week’s issue, we focus on the US housing market, which remains on a steady, albeit grinding, road to recovery—and, as a major engine of the US economic growth, should continue to spur stronger consumer spending. With the affordability still high, the recent across-the-board declines in mortgage rates and ongoing job growth, the ingredients for a continued pickup in the housing market remain in place. Furniture, home-goods and electronics sales should get a boost.
Together with falling pump prices and rising confidence, a healthier housing market is another reason why retailers seem headed for a happier holiday this year.