"Double Festival" online shopping is now retaliatory consumption against "Double 11" e-commerce giants busy grabbing positions
Our reporter Jia Li
The "Eleventh" Golden Week has just passed, and the competition between major e-commerce companies continues to plan the upcoming "Double 11" e-commerce feast.
Data shows that with the further release of online consumption potential, sales in most third- and fourth-tier cities on JD Daojia's platform have increased by more than 500% year-on-year; the overall passenger flow of various stores in Suning has increased significantly to 58%, and Suning.com Online Orders increased by 157% year-on-year; Pinduoduo realized a year-on-year increase of 81.5% in physical product orders.
"Regions that have been more severely affected by the epidemic have seen a strong recovery in consumption during the Double Holidays this year. The'Double 11' war is advanced again. Cross-border and fresh food e-commerce is expected to show rapid recovery and growth in the second half of the year." Business angel investor and former Jingdong e-commerce strategy analyst Li Chengdong said in an interview with a reporter from Securities Daily.
"Retaliation consumption"
Boosted the Golden Week sales surge
New features appeared in the traditional peak season of "Golden Nine and Silver Ten" this year, and the e-commerce industry is booming again.
The data shows that the five major sectors, including travel and life, home improvement appliances, and food and beverage, have made concerted efforts during the double festival this year to stimulate the growth of festival consumption. Among them, the online trend of fresh food is obvious.
Li Daiyun, a special researcher of the E-commerce Research Center of the Net Economics, and a new retail consultant, said that in this double festival, online platforms have made great efforts, and sales have soared. On the one hand, they benefited from the release of consumption power after the epidemic and "retaliatory consumption"; On the one hand, e-commerce platforms have done a large number of promotional activities and used live broadcasts to stimulate purchase desire.
Offline markets such as tourism, catering, and shopping during the double festival also ushered in an explosion, indicating that consumers' confidence in consumption is gradually returning.
This year's double-saving e-commerce platform sales soared, which is closely related to the market recovery.
Taking Hubei Province as an example, the overall consumption during the holiday season exceeded 30% of last year's "November", and the consumption structure has also returned to the pre-epidemic level.
The nationwide commercial electrical appliances category increased by 131% year on year.
According to the data of "Jingdong Daojia", as the potential of online consumption in lower-tier cities is further released, sales in most third- and fourth-tier cities on the platform have increased by more than 500% year-on-year.
Suning.com and Gome's order volume both increased by more than 100%.
"Since the beginning of this year, the growth of e-commerce has been more obvious. Throughout the large-scale shopping festivals every year, the sales of e-commerce platforms will increase significantly. However, this year has a feature that the boom in live broadcast has driven the simultaneous growth of popularity and sales. This year, every This platform puts a lot of resources into live broadcasting. At the same time, there is another new phenomenon in the e-commerce industry. Many e-commerce platforms put promotional activities in their daily operations. The previous '618' and'Double 11' are more common e-commerce There is a big gap between the peaks and troughs of platform transactions, but the current phenomenon of "diminishing troughs" is significant, and the gap is narrowing, and this trend will still appear in the future." Analysys Research Director and senior analyst Chen Tao said in an interview with a reporter from Securities Daily.
According to Liu Junbin, a special researcher of the E-Commerce Research Center of the Net Economics and Associate Professor of the School of Economics and Management of Hainan Vocational and Technical College, many businesses have launched targeted preferential promotions for the double festival effect, which has boosted sales growth.
In addition, good quality and low price are in line with current consumption trends.
New retail expert and former vice president of e-commerce of Wanling Group, Yun Yangzi, said in an interview with a reporter from the Securities Daily: "The epidemic has caused the entire economy to shrink. In order to increase the promotion fee, the e-commerce promotion is stronger than in previous years. This state will continue throughout the year. Changes in business models will lead to changes in the industry structure. Suning and Gome are rapidly deploying online. Changes in technology have promoted changes in the business model of the entire retail industry, and changes in business models have led to changes in the competitive landscape. Variety."
"Double 11" and then advance
The battle is already brewing
During the eight-day National Day Mid-Autumn Festival holiday, various actions by major e-commerce companies led to a surge in sales.
And as early as before the holiday, Suning.com made a sudden announcement to launch the "Double 11" promotion ahead of schedule, kicking off the curtain of this year's "Double 11".
Major e-commerce companies such as Taobao, Douyin, JD, Tmall, and Pinduoduo have also issued "Double 11" investment promotion rules.
Mo Daiqing, director of the online retail department and senior analyst of the e-commerce research center of the Net Economics, believes that Suning.com’s move can be said to be the earliest time in history to launch the "Double 11" in advance. "Staggered peak" confrontation, grab the spot in advance.
The "Double 11" battle among e-commerce giants will also start and competition will intensify.
It is understood that all major e-commerce platforms are currently preparing for the next "Double 11" war.
A person in charge of an e-commerce platform told a reporter from the Securities Daily: "Usually we plan and preheat the promotion nodes throughout the year, and start the promotion battle more than a month in advance. However, this year, affected by the epidemic, the nodes have been adjusted. The resources have been intensively invested in the live broadcast method and the field of tourism. Now all personnel are invested in preparations for "Double 11"."
"The consumer sentiment of the people during the Double Festival is high, especially the major platforms have pledged to insure the price to the'Double 11' to avoid the following'Double 11' peak express delivery and traffic jams. The performance of cross-border imports in the Double Festival promotion is not very prominent. In the next'Double 11', it may rise against the trend," said Wu Mi, a special researcher at the Net Economics E-commerce Research Center.
(Securities Daily)