Every reporter Chen Ting Wang Yubiao Every editor Liu Xuemei
The 14th “Double 11” bid farewell to the big screen and “GMV” numbers. This year, Alibaba, JD.com, and other platforms such as Douyin e-commerce, which have only started participating in the war in the past three years, have not disclosed specific platform transaction data. But it is undeniable that it is still a key node with the most vane significance in the Chinese consumer market.
Xinhua News Agency
Tmall’s “Double 11” “stable and improving”, the first hour of sales, 102 brands have a turnover of over 100 million; the “New Four Kings” (toys, pets, sports outdoor, jewelry) industries are growing rapidly; 11” also created a new record, surpassing the industry growth rate. What is emphasized by both are: rooted in the real economy and “rising” towards the real economy.
“E-commerce ‘Double 11’ has experienced high-speed growth for many years. Now it is large in scale, and it is unlikely to grow rapidly in the future. It is not easy to maintain the level of transaction.” Director and researcher Pan Helin told the “Daily Economic News” reporter, “In the future, e-commerce platforms will no longer pursue volume, but will pay more attention to consumer experience, and improving quality will replace volume.”
Focus on service chain upgrade
In addition to the regular full reduction and subsidy activities, this year’s top e-commerce platforms focus more on the upgrade of the service chain.
JD.com previously announced at the “Double 11” launch conference that during this year’s “Double 11” period, JD.com’s full-link service investment will increase by more than 50% year-on-year. In particular, JD.com’s price insurance service has been further upgraded: almost all physical commodities participating in JD.com’s “Double 11” support the price insurance service, and over 500 million kinds of products support 30-day long-term price insurance. Even the products that receive coupons still support price insurance.
In terms of Ali, in terms of overall gameplay, in addition to increasing discounts as much as possible, Tmall still said that it will focus on consumer experience. At the Tmall “Double 11” conference in 2022, Bui Xue, president of Alibaba Taobao Tmall Industry Development and Operation Center, said that “change” and “unchanged” are both based on consumer experience.
At that time, Tmall announced that this year, Tmall will carry out “full price protection” for “Double 11” products. The price protection period will be extended from 15 days in previous years to 27 days, and the price difference will be refunded with one click. In addition, this year, Taobao has added the function of “multi-address ordering”. When consumers pay for an order, they can send the goods in it to different addresses.
In terms of Cainiao, it has been increasing its investment in promoting home delivery by express delivery. It has increased the proportion of home delivery through various methods such as Cainiao Direct Delivery, Cainiao Post Station, and courier companies. Door-to-door service to improve the logistics experience that consumers care about.
Whether it is product selection, price concessions, or efficient contract performance, “Double 11” is no longer just for profit, but enjoyment and experience become more critical.
The concept of “8 o’clock in the evening” makes consumers no longer stay up late and wait, and this year will focus more on saving worry and money in each process. Although consumers’ love for large discounts is unchangeable, the head platform has already realized that in the The importance of cultivating user advocacy in big promotions. This kind of “trust building” with multiple platforms, manufacturers and consumers needs to be established during the period of booming consumption.
In addition, as a new player of “Douyin 11”, on November 12, data released by Douyin e-commerce showed that from October 31 to November 11, the number of merchants in Douyin e-commerce participating in “Douy 11” activities was year-on-year. an 86% increase.
GMV-only theory is broken
In addition to the upgrade of the service chain, several figures from Tmall are worthy of attention.
According to Tmall, this year’s “Double 11”, the membership turnover of 130 brands exceeded 100 million yuan, and the membership turnover increased by 100% year-on-year to more than 5,600 brands. Members become the main force of the brand’s “repurchase”, creating conditions for the long-term sustainable operation of the brand.
Earlier, when talking about this year’s “Double 11”, Wu Bofan, president of the New Species Research Institute, said that a trend that can be foreseen this year is that businesses begin to pay attention to the long-term vision of business philosophy and business philosophy, rather than the previous GMV-only theory .
“This change is from reaching as many one-time buyers as possible to retaining as many repeat-purchasing complex buyers as possible, so that consumers can interact more deeply with merchants and create long-term value. , not only to create long-term value for consumers, but also to create long-term value for enterprises.” Wu Bofan said.
Taobao Live is at the forefront of the content strategy of Taobao. On September 1st, at the Taobao Live Broadcasting Ceremony held in Hangzhou, Daofang released the “New Content Era” strategy, including hand-purchasing fields such as first guessing, shopping, searching, and good goods, as well as Diantao’s realization of “Great Commons”. Through “through”, launched measures such as the traffic distribution mechanism with dual indicators of transaction and content. It is reported that this is the first time that Alibaba’s domestic digital business has proposed the strategy of “from transaction to consumption”.
Under this strategy, Taobao Live scrambled for foreign aid, and on the eve of “Double 11”, leading anchors including Luo Yonghao came across platforms. With the help of these new anchors, the latest data shows that during Tmall’s “Double 11” period, Taobao Live generated 62 live broadcast rooms with a turnover of more than 100 million yuan and 632 live broadcast rooms with a turnover of more than 10 million yuan. Luo Yonghao and Yaowang Dream Station were both promoted to live broadcast rooms with a turnover of more than 100 million yuan.
Behind the changes in industry behavior, there are a lot of “motivations”. On the evening of November 11, Wu Jun, founder and CEO of Sandunban, said that in the past, new media language, new talent planting grass, new anchors’ Amway, and the new epidemic environment, consumption behavior has become more and more emotional. “The ‘passionate order’ that people often say is a form of performance, but ‘new’ has a shelf life, and not all ‘new’ can last.” He said that when the filter fades, users are now more authentic , consumption has become more rational and objective, they care about the feelings before consumption, but also care about some results after consumption.
In Wu Bofan’s view, the fundamental logic of the industry has changed. Both consumers and merchants have become more and more mature. It is no longer the stage where many people buy a cheap item on the platform, and merchants need to adapt to this change.
Pan Helin also believes that e-commerce platforms are improving the quality of platform services (the efforts made above), such as extending the price guarantee period and improving after-sales, and gradually fill up some of the shortcomings of “Double 11” consumption.
“This is a good phenomenon. I have always believed that what attracts users is not the low price, but the cost-effectiveness, and the cost-effectiveness is a better user experience at the same price. E-commerce platforms focus on the efforts of users’ shopping experience, and positive feedback will also be formed in the future. It will enable the e-commerce platform to achieve long-term sustainable development.” Pan Helin said.
As a matter of course, re-establishing a harmonious relationship with users to meet the deep needs of users has become the direction that all platforms and brands jointly explore this year.
To be an “incremental field” of the real economy
Although the e-commerce platform no longer publishes GMV data, it is still possible to see the “big market” of this year’s “Double 11” from some data.
This year is the 13th time since 2010 that the postal express industry has faced the “Double 11” express season. Monitoring data from the State Post Bureau shows that from November 1 to 11, postal express companies across the country handled a total of 4.272 billion express parcels, and the average daily processing volume was 1.3 times the daily business volume. Among them, a total of 552 million express parcels were processed on November 11, which was 1.8 times the daily business volume.
In addition to the changes in play style, under the promotion of the platform, “Double 11” is becoming an important incremental field for the high-quality development of the real economy.
“We have seen the huge domestic demand potential and consumption vitality of the Chinese market, and the continued resilience of China‘s economy and industry. This gives us the confidence to better serve the development of the real economy.” said Dai Shan, president of Alibaba’s domestic digital business sector.
Xin Lijun, CEO of JD Retail, also said: “Agriculture, industry, and commercial services are all important components of the real economy, and JD.com will, as always, do its best to play a greater role in rural revitalization, manufacturing upgrades, and offline retail development. .”
Specifically, Tmall said that this year’s “Double 11” is the most diverse year for participating merchants, with 290,000 brands, millions of small and medium-sized merchants, and anchors signing up, and more than 21 million products participated in “Double 11”.
During the “Double 11” period on Tmall, many small and medium-sized businesses entered the “Millions Club” and “Millions Club”. The overall turnover of Yangjiang Bedroom Furniture, Jinan Whole House Smart, Shandong Children’s Furniture and other industrial belts achieved a year-on-year triple-digit growth , mainly concentrated in the fields of home improvement and home furnishing, corporate services, pet food and trendy toys. These industrial belts are also the areas with the highest concentration of small and medium-sized businesses.
During the “Double 11” period on JD.com, the turnover of nearly 10,000 agricultural products exceeded 100,000 yuan. Nearly 30% of primary processed agricultural products such as grain, oil and tea have achieved an increase of more than 100%. Among the 100 commodities with the highest turnover, more than 50% are new varieties. The unit volume of the production area increased by 80% year-on-year.
It is worth mentioning that the “Double 11” that started with e-commerce is not just about e-commerce. According to data provided by Intime, during the “Double 11” carnival season, the online (sales) of Intime Department Store increased by 22% year-on-year, and nearly 200 brands increased by more than 30% year-on-year.
According to data from Suning.com, in the first round of “Double 11”, the number of customers in stores across the country increased by more than 2 times from the previous month, the number of home appliance purchase orders increased by 127% from the previous month, and the sales of newly opened stores in Chongqing, Nanjing, Shanghai and other cities increased by more than 100%. It is reported that Suning.Com has also built a live live broadcast base with two-line integration offline, and cooperated with the top 100 leading home appliance brands to settle in, driving more consumers to enter offline stores.
It’s not just about selling feelings. The real economy requires long-term accumulation, and e-commerce retail is an important part of the development of the real economy. But to do the real economy, we must abandon the traditional thinking of Internet development.
On the one hand, the real economy is a stabilizer, and on the other hand, it also faces opportunities for growth. For example, digital upgrades will bring higher efficiency, and the expansion of infrastructure can build differentiated competitiveness. This also requires a profound transformation of Internet-related technologies, systems, thinking and strategies.
At the just-concluded 2022 World Internet Conference Wuzhen Summit, Zhang Yong, Chairman and CEO of Alibaba Group, and Xu Lei, CEO and Executive Director of JD.com, gave speeches on the theme of deepening the real economy and strengthening the integration of the real economy and the digital economy. Alibaba and JD.com, the leading players in the e-commerce field in the past decade or so, are also competitors, and they coincide here.
The disappearance of the big screen and GMV is a ceremony for the Internet to bid farewell to the past, and it is also the starting point for “Double 11” to create an open system, stay away from equilibrium, and fight against the increase in entropy.
The digital economy represented by the Internet and those individuals who are or are about to participate in the construction of the real economy are “waiting” at the starting point of a new round of the track.
Source of cover image: Xinhua News Agency