[Economic Observation] What will attract consumers on "Double 11" this year?

　　The "Double 11" business activities in 2020 will come earlier than ever.

　　From October 21st, some e-commerce platforms have started pre-sale activities.

The "Double 11" promotion on major platforms has been officially advanced to November 1.

On platforms such as Tmall and Suning.com, "November 1-3" is the first wave of the promotion, and "November 11" is the second wave of the promotion.

　　Insiders pointed out that the launch of Double 11 this year was related to the epidemic.

Under the influence of the epidemic, many industries have been affected to varying degrees.

As the biggest consumption season after the epidemic, many businesses have high expectations and expectations for "Double 11".

　　On the one hand, early launch and longer promotion time can create a longer business window for merchants, especially those affected by the epidemic, bring more sales, and ease previous financial pressure.

On the other hand, it also allows consumers to have more time to fully choose their favorite products, and will not miss a panic buying because of time is too tight, thus having a better consumer experience.

　　In addition to the early start and extended time, the highlights of this year's "Double 11" also include a large number of new products, simple rules, pay if you pay, and live delivery.

　　There are many new products, with 5G mobile phones being the most prominent.

This year, Apple iPhone12 series and Huawei Mate40 series are released before "Double 11", and many people want to take advantage of "Double 11" to pick a mobile phone for themselves.

According to data released by Tmall, as of 1:51 this morning, the turnover of 100 brands including Apple and Huawei exceeded 100 million yuan.

According to data released by Suning.com today, sales of 5G mobile phones ushered in an explosion. On October 31, the Huawei Mate40 Porsche model was sold out in just 9 seconds.

　　In terms of rules, last year's "Double 11", the problems of complicated promotion rules, brain-burning, and playing routines were criticized by consumers.

Some consumers complained that "the operation is as fierce as a tiger, and the red envelope is 25 cents", and their enthusiasm is greatly reduced.

This year's "Double 11", the major platforms seem to have learned the lessons of last year.

Some platform subsidies can be directly received, and cross-store shopping can be directly reduced; some platforms can directly see the discounted price without having to carry out various complicated calculations with a calculator.

　　Your compensation is one aspect of the sincerity of this year's "Double 11" platform.

A previous survey conducted by the Beijing Consumers Association showed that during the previous "Double 11" period, some platforms and merchants had problems with their products, such as price increases first and then price reductions, and prices rose instead of falling, which made many consumers feel fooled.

For this reason, Suning.com and other platforms have proposed premium compensation services this year.

This service is compared with the historical price of the platform's self-operated channels, and the actual amount paid by the user is subject to instant compensation as long as the purchase is expensive.

　　Compared with previous years, live e-commerce is the biggest change this year.

This year's "Double 11", some platforms put live video footage in factories and fields, allowing consumers to experience "direct procurement from the source, direct sales from the origin, and direct manufacturing from the factory" in real time.

In addition, some platforms have also joined forces with various David TVs to create a “super show” of integrated e-commerce live IP.

Compared with a single stage performance and stand-up comedian live broadcast, the form of gathering many traffic stars, linking brand dual-line business resources, and closely combining "TV variety show + live broadcast + full-scene interaction" can take advantage of the media's multi-end communication effect to improve The audience is attracted to brands and shopping platforms, "anytime, anywhere, watching and buying", and strive to give consumers a better shopping experience.

　　Although this year’s "Double 11" has many bright spots, as many analysts have pointed out, it is better to say good things than to do well. Platforms and merchants can only show sincerity, so that consumers can enjoy tangible offers and feel while shopping. Only when you are happy can you continue to maintain the appeal of "Double 11".

　　Looking forward to this year's "Double 11", good products, good prices, good experience, and good service will become the standard equipment of various platforms, forming a win-win situation for platforms, merchants, and consumers, so that "Double 11" will better promote consumption growth.

　　(Report from Beijing, November 1st)

Yang Zhaokui