“What’s new in this year’s “Double 11””
– Henan Daily reporter Sun Jing
Every year’s “Double 11” is an important window to feel the pulse of the economy and observe new consumption trends. This year, in addition to Taobao, JD.com, and Vipshop, Xiaohongshu, Douyin, Kuaishou, etc. have also joined the “battle situation” and started promotions nearly a month in advance. What are the new highlights of this year’s “Double 11” consumption?
“Low price” and “quality” become keywords
“You can buy expensive ones, but you can’t buy expensive ones.” Nowadays, more and more rational consumers want to have both “low price” and “quality”. This year’s “Double 11”, all major platforms are focusing on “low prices”. The theme of JD.com’s “Double 11” is “It’s so cheap, buy it with your eyes closed”; Taobao and Tmall offer the “lowest price on the entire network”; Douyin claims that the price of single products will drop by 15%; Kuaishou promotes that “it will focus on releasing products throughout the year” Maximum discount.” Various platforms have also simplified discount rules, abandoned routines, and directly “shopping” for low prices. Vipshop said that consumers do not need to put together an order, and can enjoy great discounts on one item; Tmall said that products marked with “official instant discount” and “lightning mark” do not need to put together an order, and only one item will be discounted.
Li Donghong, a professor at the Department of Innovation, Entrepreneurship and Strategy at the School of Economics and Management at Tsinghua University, believes that the practice of “low prices” on e-commerce platforms is essentially a digital and intelligent social supply chain that promotes cost reduction and efficiency improvement in the value chain.
E-commerce platforms have launched the “pay for it if you buy it expensive” service. Jingdong guaranteed the price of 800 million products during the “Double 11” period, and Taobao promised that all “10 billion subsidy” products on the platform will “pay for if you buy it.” JD.com data shows that through price guarantee services, consumers saved a total of 564 million yuan during this year’s “Double 11” period.
Domestic brands are popular in the industry
To say that the Taobao store that had a strong presence during this year’s “Double 11” was none other than “State-owned Xiaoxin”, the official media of the State-owned Assets Supervision and Administration Commission of the State Council, which is stationed on Taobao. This domestic brand has launched 16 new “big country weapons”. Among them, the world‘s first land-based modular small nuclear reactor “Linglong One”, known as the “mobile nuclear energy power bank”, has gained countless fans.
The coconut tree and Lao Gan Ma jointly formed the “Ma Ye” combination, Yinlu and the Spicy Prince formed the “Ying Ma Lao” combination, and six walnuts and Liuliu Mei formed the “666”, sending six hundred and sixty-six blessings to everyone. … During the “Double 11” period, many domestic brands attracted countless traffic by launching co-branded products.
On the evening of November 11, Tmall and JD.com announced product segmentation data for “Double 11”. On Tmall, 243 domestic brands have entered the “100 million yuan club”, including traditional brands and new brands such as Huazhi and Qiechu; on JD.com, 10 minutes after the event started at 8 pm on October 31, Xiaomi, Honor, Huawei , OP-PO and many other domestic brands’ mobile phone sales have increased by more than 100% year-on-year, and the sales of traditional Chinese medicine equipment products such as moxibustion, scraping, and cupping have been rising.
According to the relevant person in charge of JD.com, during the “Double 11” period, the consumption of domestic products by those born in the 1990s and 2000s accounted for 62% of the total sales of such products, making them the absolute main force in the consumption of domestic products. He believes that more and more young people are showing strong cultural self-confidence. They like Chinese products, especially products rich in traditional cultural charm. This kind of cultural self-confidence will inject lasting and strong impetus for the rise of domestic products.
Live streaming becomes the main battlefield for online sales
On the evening of November 11, when I walked into the headquarters base of Haiyi Cloud Commerce Group in Erqi District, Zhengzhou City, I saw more than 100 e-commerce live broadcast rooms with different scenes brightly lit, and the anchors were sprinting for the final sales results.
Live streaming has become the most important channel to drive online consumption. Tie Bin, deputy general manager of Haiyi Cloud Commerce Group, said that during the “Double 11” period, the company launched more than 200 live broadcast rooms on mainstream e-commerce platforms across the entire network, with sales exceeding 500 million yuan.
This year, JD.com’s live broadcast of purchasing and selling attracted attention and discussion among netizens. This “scrabble” live broadcast room with no script, no rehearsal, and no teleprompter attracted nearly 10 million users on the second day after it was launched. “This live broadcast is all direct sales from the factory. Many big-name products are sold at 50% off. Many products are sold out in an instant.” Li Li, a senior shopper who watches the live broadcast every day, said.
Li Mingtao, president of the China International E-Commerce Center Research Institute, believes that nowadays, the e-commerce models of interest e-commerce, short video “grass planting” and live streaming of goods are recognized by more and more merchants and consumers, which also reflects the fact that live streaming of goods The penetration rate in the overall online shopping market is getting higher and higher.