Alibaba’s Singles’ Day (11.11) is the world’s biggest online retail event: in 2016, the platform reported facilitating USD 17.8 billion of transactions in a single day (by contrast, the entire US retail market’s 2015 Black Friday takings were estimated at USD 10 billion, online and offline!).
2016’s Singles’ Day saw Alibaba launch Buy+, a virtual reality shopping experience. The demo video shows how Chinese shoppers could be transported to – and shop in – Macy’s in New York. The platform also launched an augmented reality shopping game ‘Catch a Cat‘ for its Tmall platform, similar to Pokémon Go. Indeed, anyone interested in the VIRTUAL EXPERIENCE ECONOMY should keep watching China, given its position as a VR early adopter. Just one signal: HTC plans to roll out 10,000 VR ‘experience centers’ throughout China in the near future.