E-commerce new gameplay brings new momentum
Our reporter Huang Xin
The annual "Double 11" is here again!
The start time is getting earlier and earlier, the "front" is getting longer and longer, and there are more and more ways to play.
More importantly, the annual "Double 11" is an important window to observe China's consumption strength, which can fully demonstrate the changes in my country's consumption pattern, as well as the resilience and vitality of my country's economy.
New gameplay brings new changes
This year's "Double 11" not only comes earlier, but consumers don't have to stay up late.
Jingdong’s “Double 11” will start pre-sales at 8 pm on October 20, pay the final payment at 8 pm on October 31, and fully price, and the climax will start at 8 pm on November 10.
Ali also advanced the pre-sale time by 4 hours to lock in the "golden eight o'clock gear".
Zhongcheng think tank analyst Yang Yirui believes that compared with the past, this year's "Double 11" front has been stretched, and preferential rules have also "changed from complex to easy".
Since 2018, the complex preferential rules of "Double 11" have been criticized, and this year there is a trend of simplification.
For example, many categories such as home, beauty, and imported brands on the JD.com platform adopt direct discounts; Tmall platform replaces the original shopping allowances and building building with cash subsidies and red envelopes. Yuan worth 300 Yuan deduction coupons; Vipshop will continue its own consistent style, combining good prices and good brands to provide cost-effective, high-quality goods.
At the same time, there are more platforms participating in "Double 11".
A sample survey conducted by iiMedia’s data center shows that in 2021, the platforms that Chinese netizens plan to participate in the "Double 11" shopping festival include JD.com, Alibaba, Pinduoduo, Douyin, Kuaishou and Suning.com.
On October 27th, Douyin e-commerce "Double 11" officially opened, with a special online "Tik Tok Double 11 Goods Festival" special area, through short videos and live broadcasts to promote domestic products, local agricultural specialties and other high-priced goods, for a period of 16 days.
It is understood that Douyin e-commerce will strengthen the sense of interest shopping atmosphere and continuously enlarge the advantage of "grass planting" through short video topic interaction, live room promotion scene construction, real-time hot selling list, personalized list and other methods.
Yang Yirui said that in addition to traditional e-commerce giants such as JD.com and Taobao, short video platforms such as Douyin and Kuaishou are also building their own closed-loop e-commerce ecosystems for "Double 11" this year. The online consumer market attracts traffic resources.
Online market traffic port grabbing has entered a new stage.
However, Zhang Yi, CEO of iiMedia Consulting Group, said frankly that this year’s "Double 11" games were too many, and many consumers said they were confused.
A sample survey conducted by iiMedia’s data center shows that in 2021, the behaviors that Chinese mothers do not like during the "Double 11" shopping festival include: actively participating in the event but receiving very few discounts. Merchants secretly raise prices before the holiday and need to invite others to enjoy them. Concessions, need to watch ads to complete the task of the activity, too many routines to play and do not understand, etc.
Domestic brands performed well
The biggest highlight of this year's "Double 11" is that consumers are keenly interested in national trends and domestic products.
According to data released by JD.com, as of 12 o'clock in the evening on November 1, 139 brands have placed orders of over 100 million yuan, and domestic brands have performed well. Xiaomi, Haier, Lenovo, Midea, Huawei and other brands have placed orders of more than 1 billion yuan.
From the perspective of pre-sales, the sales of domestic products in categories such as beauty, sports, mobile phones, food and beverages have shown explosive growth.
The pre-sales opened for 1 hour. The pre-sale sales of Xiaomi mobile phones exceeded the full-day sales on the first day of pre-sale last year. The pre-sale sales of vivo increased by more than 10 times year-on-year. The amount of pre-sales of realme mobile phones increased by 5 times; With a year-on-year increase of 220%, the top three most popular brands are Anta, Jordan and Peak.
After the launch of "Tik Tok Double 11 Goods Festival", consumers on the platform were enthusiastic about buying domestic products.
The sales of domestic cosmetics, domestic apparel and other products have all achieved growth in varying degrees. Some brands have increased their interaction with consumers through live broadcasts on the theme of national trends.
The TikTok e-commerce apparel industry has opened an official live broadcast room of the “Tik in New Trend”, which connects multiple domestic apparel brands to live on the same screen, bringing together high-quality domestic products scattered across the platform, including Hongxing Erke, Shipian, Langzi and other brands.
The relevant person in charge of Douyin e-commerce said that from the perspective of the platform as a whole, more and more consumers have recognized and purchased domestic products. Domestic brands in some cities have new ideas, characteristics, and highlights, and their products are favored by consumers.
Domestic brands are also popular overseas. Within 4 hours starting at 8 pm on October 31, overseas consumers' global sales orders on JD.com have increased by 198% year-on-year, exceeding the entire day of November 1 last year.
Among them, Beijing Tokyo-made, Fengmi, and Tianke are the domestic brands with the highest order amount on the global sales platform within 4 hours.
The total turnover of JD.com's own brands increased by 266% year-on-year, of which, the total turnover of Jingdong Manufacturing increased by 279% year-on-year.
At the same time that this year's "Double 11" kicks off, the first "GO DAY Global Goods Festival" sponsored by BlueFocus Group's Blue Label Media also opened simultaneously.
Pan Fei, CEO of BlueFocus Communication Group, said that the purpose of holding this event is to use global traffic to tell the story of China.
The first "GO DAY Global Goods Festival" carefully selected 15 Chinese brands such as Xtep, Cobos, Xiaomi, and Skyworth to help Chinese brands do overseas marketing, establish brand images, and let people around the world correctly understand Chinese brands. The future The participating brands in this event will also be Chinese brands.
According to statistics, at 8 a.m. Beijing time on November 1, the "GO DAY Global Goods Festival" has reached over 100 million overseas audiences.
"In this year's'Double 11', the sales of products with national tide elements are booming, which shows our cultural self-confidence, and the development of domestic brands is ushering in the spring." Zhang Yi said.
Consumption shows an upward trend
In this year's "Double 11", consumption upgrade is still an important trend.
"It is mainly reflected in two aspects. One is the pursuit of new product functions, such as adding intelligent functions to home appliances; the other is the pursuit of high-quality products, including high-end agricultural products, high-end dairy products, and high-end clothing." Said Pan Helin, executive dean of the Institute of Digital Economy, Zhongnan University of Economics and Law.
This year's "Double 11", Vipshop and high-end brands launched the Super Big Day. Among them, L'Oréal sold nearly 4,000 sets of only one value suit in 2 hours, Skechers’ single-day sales approached 40 million yuan, Belle’s single-day Sales of nearly 55 million yuan.
According to data from JD.com, as of 12 o'clock in the evening on November 1, the turnover of organic milk increased by 6 times year-on-year, craft beer increased by 10 times, high-end steam mops increased by 6 times, and IP tide games increased by 4 times.
High-end agricultural products have also become the key support targets of major platforms in this year's "Double 11".
For example, national production from the place of origin of landmarks has attracted more attention. Xinjiang Korla fragrant pear, Jiangsu Suqian king crab, Ningxia wine, Guizhou Xiuwen kiwi fruit on the JD platform on November 1st increased 3 times, 4 times, and 4 times. 6 times and 8 times.
Douyin e-commerce opened a special section of "Flavour Yanbian" in the "Double 11" zone, and helped more than 100 local special agricultural products to expand their sales through special live broadcasts and product subsidies.
Pan Helin analyzed that this year's "Double 11" service products are selling hotly.
E-commerce platforms are no longer limited to commodities, but broaden their business to offline service areas, such as housekeeping consumption, tourist hotel reservations, car maintenance and repair, home improvement services, etc. Offline services promote sales through online e-commerce platforms, and promote The integration of online and offline industries has enriched the e-commerce business ecosystem.
At the same time, the online and offline linkage mode has become a trend.
Major e-commerce companies have increased their offline layout, including the combination of community fresh food, intra-city distribution and other services, to promote consumption with a more flexible e-commerce model.
"The online shopping festival represented by'Double 11' has promoted new business formats such as smart retail and live streaming, which can effectively promote the precise connection between the demand side and the supply side, and help give full play to the advantages of my country's large-scale consumer market. At the same time, Driven by the domestic and international dual cycle, it can also help match global supply and demand and promote economic recovery." Yang Yirui said.