Home Business Double 11 first battle “eight o’clock”: low price is no longer the highest pursuit These “buy, buy, buy” make you unexpected_consumer

Double 11 first battle “eight o’clock”: low price is no longer the highest pursuit These “buy, buy, buy” make you unexpected_consumer

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Original title: Double 11 first battle “Eight o’clock”: Low price is no longer the highest pursuit These “buy, buy, buy” make you unexpected

The first wave of “Double 11” this year was perfect. Compared with previous years, the chop-hand party has ushered in the era of “eight o’clock” for the first time.

Coincidentally, JD.com and Tmall advanced the pre-sale time to 8pm on October 20. However, the time for paying the final payment is different. JD.com will pay the final payment at 8 pm on October 31, and fully release the price. The climax will start at 8 pm on November 10, and Tmall’s first wave of Double 11 Start at midnight on November 1st.

Just after November 1st, this year’s Double 11 has already handed over the first report card: Tmall’s sales of more than 2,600 brands in the first hour of Double 11 exceeded the entire day of last year, and the performance of domestic brands was particularly eye-catching; as of November 1st At 24:00, the order value of 139 brands of JD.com exceeded 100 million yuan. Among them, Apple, Xiaomi, Haier, Lenovo, Midea, Huawei and other brands placed orders for more than 1 billion yuan; the turnover of 43,276 merchants increased by more than 200% year-on-year.

It is worth mentioning that the mainstream consumer group for Double 11 continues to be younger. JD.com’s new double 11 users accounted for 36.9% of Gen Z population.

Under the fireworks of shopping spree, new consumption scenes represented by the Z generation and the “her” crowd are emerging in endlessly. Generation Z tends to have a clear-cut concept of consumption. They pursue and seek new ideas, so that their “wind-making” can attract the whole people to “follow the trend.” “Her Economy” continued to perform rapidly. Tmall Double 11 has just started selling for half a day, and 53 beauty brands have completed the 20-day record of last year’s Double 11.

New consumer brands have ushered in a big explosion. According to data from JD.com Double 11, the turnover of Li Ziqi, a well-known emerging brand, increased by 10 times year-on-year, and the monthly average turnover of three and a half meals was 10 times that of September. The turnover of adopting a cow was 10 times the average daily in September, and the turnover of Chali Chali increased by 50 times compared with the same period last year.

As the most famous shopping festival, Double 11 embodies the consumption “values” of this generation of consumers. It can be found that more and more consumers are no longer placing orders only for “just-needed”. The pursuit of personalized demand for appearance and experience has become the mainstream. This is not only an important symbol of consumption improvement and capacity expansion, but also an important way for manufacturers to upgrade their industries. .

Dakun Yang, global partner of Bain & Company, pointed out that although consumers’ preference for substantial discounts cannot be changed in the short term, some leading retailers have made progress in cultivating customer support for Double 11, and there is no reason why consumers follow these platforms. Restricted to the simple reason “Here things are sold so cheaply”, this laid the foundation for retailers to establish a more lasting differentiated advantage.

Four Key Words Locked in User Portraits on Double 11

“I don’t want to buy either, but he called me Meimei!” This year on Double 11, the young girls still couldn’t stand the “yelling” of “Old Litou” (Li Jiaqi), and they emptied their wallets willingly.

Although it’s just a joke, e-commerce retail has been developing for many years. Riding on the east wind of the new consumption wave, without in-depth research on consumer groups and service targets, it can only be eliminated in the end. Just as Li Jiaqi’s live broadcast studio is precisely targeting consumers, the 13th Double 11, the cognition of consumer subjects has gone a step further.

JD Double 11 pre-sale data shows that the number of users who placed a 4-hour pre-sale on October 20 increased by nearly 40% from the first day of pre-sale last year, and consumers aged 18-35 accounted for more than 70%. In other words, this year’s pre-sale opened 4 hours ahead of schedule, quickly breaking the pre-sale record for the entire day on the first day of last year’s pre-sale.

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In addition, the “her economy” is still the most solid foundation for China‘s consumption power, and they continue to “ride the wind and waves” on Double 11 this year.

Benefiting from this, the beauty category ushered in a surge on various platforms. As of 12 o’clock on November 1, according to incomplete statistics, 28 single products over 100 million have been born in the beauty industry on Tmall platform. Including Guerlain Recovery Honey, Helena Black Bandage, CPB Glorious Three-piece Set, etc.

It is reported that Tmall will sell for half a day on November 1, and there will be 53 beauty brands in sales, which exceeds the 20-day record of last year’s double 11. Among them, there are not only overseas brands such as Helena, Shiseido, Shu Uemura, but also new domestic brands such as Fauvism, Xiangyi Materia Medica, PMPM and so on.

According to Accenture data, China has nearly 400 million female consumers between the ages of 20 and 60, and they control up to 10 trillion yuan in consumer spending each year, which is enough to constitute the world‘s third largest consumer market, close to retail sales in Germany, France, and the United Kingdom. The sum of the market.

In addition to the Z generation and the “her economy”, compared with the past, the two major user groups of the “other economy” and the “silver-haired family” have begun to blow out, and they have become a part of the increase in consumption that cannot be ignored. For example, male consumer groups have improved in the field of cosmetics and skin care; mainstream e-commerce platforms including JD.com and Taobao have launched “older versions”, which shows that the consumption of “silver-haired people” continues to be hot.

In recent years, with the gradual maturity of Double 11 and the e-commerce industry itself, coupled with the impact of the new crown epidemic, China‘s retail industry has undergone changes, and the criteria for measuring the success of Double 11 have also changed: commodity turnover (GMV) is still an important indicator , Retailers also have the opportunity to redefine the success criteria of Double 11 by cultivating customer loyalty and acquiring customers as the starting point.

“Many consumers don’t mind changing retailers on Double 11. For them, the Double 11 discount does not make them loyal to a single platform. They have too many choices and enough room to shop around. Retailers can’t face it. Indifferent to the needs of consumers, but discounts alone cannot guarantee that they can win under the new rules of the game.” said Zheng Shuohuai, global partner of Bain & Company and chairman of the retail business in Greater China.

Consumption changes often begin with changes in consumer subjects. With the precise targeting of e-commerce user portraits, more and more subdivided consumer groups have integrated into the mainstream consumer groups, and the 13th Double Eleven has become more “younger” because it is more tolerant.

Outside of “just-needed” double 11% new products rise to the main position of the national tide

On Double 11 this year, 3C digital products are still strong. According to JD.com, Apple’s first four-hour turnover increased by 200% year-on-year; Xiaomi, OPPO, and vivo’s first-hour turnover exceeded last year’s first full day; high-end notebook computer turnover increased by 340% year-on-year, including ROG series and ThinkPad X1 series turnover The year-on-year growth rate exceeded 400%; the turnover of 4k projectors increased by 240% year-on-year.

According to data from JD.com, in terms of home appliances, the half-hour turnover of flat-panel TVs surpassed that of the entire day last year. Among them, Hisense TV’s 10-minute turnover surpassed the entire day of last year, and Huawei’s half-hour smart screen turnover surpassed the entire month of November last year. The 45-minute turnover of the refrigerator and washing machine category exceeded the entire day of last year, and the 1-hour turnover of the washing and drying kit exceeded the entire month of the whole year; the 4-hour turnover of the integrated steaming and roasting integrated stove exceeded the entire day of last year; in the air-conditioning category, Gree air-conditioning exceeded the turnover of 13 minutes Throughout last year, the turnover of fresh air conditioners increased by more than 8 times, becoming the first choice for healthy home users.

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In addition to “just-in-demand” products, it can be seen from Double 11 this year that consumer groups are becoming more segmented, and personalized demand is gradually rising.

Green energy-saving products are growing rapidly. According to data from Suning.com, within 12 hours of the “good start”, green energy-saving products have grown rapidly, with new-level energy-efficient air conditioners, water-saving toilets, and energy-saving lamps increasing by 96%, 105%, and 83% year-on-year.

In addition, during Suning Double 11, smart products in the home-convenience scenario were popular, and the turnover of smart drying racks and smart toilets increased by 126% and 91%. Advocating the concept of healthy living, sterilization and purification products have become a rigid demand, the order volume of disinfection and sterilization electric drying racks increased by 108%, and the central integrated fresh air system, aldehyde-free cabinets, antibacterial and anti-mite mattresses, etc. ushered in hot sales.

Double 11 has become the main battlefield for the exposure and explosion of new categories.

It is understood that over 200 luxury brands will officially participate in Tmall Double 11 this year, with a pre-sale period of over 100,000 luxury limited and customized new products.

Guochao has long been responsible for the strength of e-commerce promotion. If last year’s Double 11 was the first year of the outbreak of national tide consumption, this year’s national tide consumption has already consolidated its status as a major consumer promotion theme.

The pre-sale of the first phase of Double 11 this year (November 1) was the 100th day after Hongxing Erke unexpectedly became popular due to donations in the disaster area.

According to the public opinion monitoring data of Wisconsin, during the monitoring period from July to October 2021, the total volume of Hongxing Erke reached the peak of transmission on August 1, followed by a cliff-like decline, and stabilized after September. Immediately, Hongxing Erke gradually stepped onto the right track and launched a variety of IP joint models to catch up with the national trend. Tmall Double 11 data shows that the first wave of sales started at 0:00 on November 1. According to incomplete statistics, Hongxing Erke’s sales within one hour exceeded the entire day of last year.

The domestic products and national trends represented by Hongxing Erke have been unstoppable and have swept almost all industries: more and more “national trends” elements have appeared in products such as food, watches, new cultural creations, and toys.

According to Tmall data, various domestic watch brands such as Seagull, Renault, and China Beidou’s “worn by dad” in the memory of the post-90s generation were sold out during Double 11 on Tmall, and the sales quickly exceeded 10,000 within one hour. Fang Huichuntang launched the “Stay Up Tea” for young people and became a hit in one fell swoop. This year’s first-hour sales of this time-honored brand exceeded last year’s entire day. Trendy domestic toys such as soapstudio, pinqi, and beastbox sold more in the first hour than the whole day last year.

The surging domestic products and the national tide reflect the national cultural self-confidence of mainstream consumer groups including Generation Z. Similarly, the new wave of national trends, which are fun and can promote individuality, are also ways for young people to express themselves.

The explosion of new categories spurred by the national tide also created momentum for JD’s “transformation”.

JD Double 11 sales data show that under the influence of more than 100 KA brands such as Bosideng, Victoria’s Secret, Peacebird, OTZ, etc., JD’s apparel has welcomed the arrival of merchants and new products on the new dual line. The new brands entered the month compared to October. An increase of more than 10 times, a total of more than 300% of KA brands, small and medium-sized businesses, and industry belt businesses, bringing 15 times the number of new product choices in the same period last year. More young people like to buy sports shoes and clothing of domestic brands. Anta, Jordan, and Peak have become the most popular domestic brands.

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The new generation of consumer groups pay more attention to the behind-the-scenes value of brand delivery. Therefore, some new national fashion brands, such as the national fashion apparel brands Iconslab, TOURNIQUET, TBSM, which participated in Tmall Double 11 for the first time, the new Chinese pastry brand Hutouju, and the new tea brand Chayan Yuese, Yemanman, etc. had a good sales momentum during Double 11. Young people like to buy domestic products more, and the confidence of the national trend brands is stronger.

These “buy, buy, buy” unexpected

The “Daily Business News” reporter noted that in the first day of Double 11 this year, consumers’ “buy, buy, and buy” showed a more diversified trend.

Jingdong 11.11 opened its doors in just 10 minutes, and the “everything can be auctioned” Jingdong auction ushered in a big explosion, gathering good things such as porcelain, jewellery, jade, luxury goods, tea and wine. Among them, the number of users of auction transactions for treasures increased by 150% year-on-year. Post coins with great collection significance also ushered in a big explosion. Jingdong 11.11 opened its doors in 10 minutes. The transaction volume of collectible banknotes increased by nearly 100% year-on-year, and the transaction volume of self-operated postal currency increased by 300% month-on-month.

The niche categories tend to be strong, and the shit shovel officer is also very active in Double 11. The reporter learned that the sales of pet brands on JD.com are impressive. The turnover of Homan’s 30-minute product sales has increased by 22 times year-on-year, surpassing the first day of last year. The official flagship store of HomeRun Homan, opened for one hour, and the product turnover has been 20% year-on-year. On 11.1, a year-on-year increase of 0-1 points by more than 2100 times, the official UNIPAL flagship store opened for 10 minutes, exceeding the turnover of the entire period last year.

The needs of men have also begun to receive attention from the outside world. Tmall Double 11 data shows that within the first hour of sales, the men’s grooming category under Men’s Care doubled the entire day last year in the first hour. Men’s grooming mainly includes hair wax, shampoo, conditioner, hair spray and other head styling products, so that a new brand that focuses on men’s care like Li Ran completed last year’s entire sales on the first day.

This year, Tmall upgraded the two major trend categories of men’s care and perfume and fragrance to be independently operated first-level categories, which belong to the big beauty industry. This also led to the explosive growth of the aromatherapy category, and the turnover in the first hour exceeded the entire day of last year.

As more and more consumers have increased their requirements for service quality, service-oriented consumption has also shown explosive growth during the Double 11 Shopping Festival. In the first 10 minutes, more consumers of JD’s special service products such as diapers, milk powder, and other special service products of JD.com favored them, which led to a substantial increase in the turnover of diapers, milk powder, tea and other commodities. The first 10 minutes of the sales of JD Home Home “Saving Wear” marking products increased by 230% year-on-year.

As far as the start-up provinces and cities are concerned, unexpectedly, Guangdong, Jiangsu, Beijing, Shanghai, and Sichuan rank among the top 5 in Jingdong start-up turnover. The provinces and cities with the highest turnover growth are Anhui, Zhejiang, Hunan, Hubei, and Jiangxi.

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