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The 2022 Double 11 e-commerce battle seems a bit low-key and calm
The Double 11 event, the largest e-commerce promotion season, has just ended. The Chinese e-commerce giant Tmall announced that the transaction scale this year is the same as last year. In addition, the processing volume of express parcels decreased by 10.6% compared with the same period, and even fell by 20.7% on 11/11.
Double 11 has entered its 14th year. Although the major platforms have shown a trend of "steady and positive", do all signs indicate that this promotion model has entered the middle age?
Changes in the consumption concept of the younger generation: Restraining material desires has become the mainstream
Affected by uncertain factors such as the epidemic in the past three years, restraining material desires has become a popular topic. No matter how platforms and merchants try to attract customers, the consumption concept of young consumers is changing, and they are gradually losing their enthusiasm for Double 11. get excited. The survey found that many people said that their consumption concepts are becoming more rational.
Taking Taobao as an example, this year’s 300 minus 50 discount is the largest ever. However, the weakening response of consumers also shows that although consumption desire and consumption demand still exist, they prefer to “buy what they really need.” Or "spend every penny where it counts". Therefore, participating in the Taobao Double 11 event has become an optional option. On the other hand, with the normalization of big promotions in recent years, Double 11 may not be the only low price point.
In addition to increasing the prudence of consumers in spending money, their shopping attitude has gradually shifted from "mass shopping" to "high-quality shopping".
Uniqlo once again topped the clothing list , and sports and outdoor became the new focus
The home office under the epidemic blockade has brought new consumption trends. The sales of Double 11 can also show the gradual transformation of consumption tendencies: the younger generation has also begun to be interested in home appliances, and they have "planted grass" in Xiaohongshu and WeChat circle of friends. "In the context of relatively weak consumption of most items of electrical appliances, there has been relative growth, such as mobile phones, air conditioners, refrigerators, and smart home appliances, all of which have exceeded expectations. In addition, items that have received a lot of attention include sports and outdoors, pets, trendy toys, and jewelry industries, which have become the "New Four King Kong" this year.
According to the data from the Tmall Double 11 list, the top 3 categories in terms of sales are clothing, household appliances and beauty care. In clothing and accessories, Uniqlo once again topped the list with sales of more than 300 million yuan. At the same time, it landed on the Douyin e-commerce for the first time, and launched the Douyin brand store broadcast during the double 11 period. Through multi-platform operation, the brand is more scalable. Bosideng and Bananain ranked second and third, respectively, with sales of about 196 million yuan and 123 million yuan. Brands such as Urban Revivo, Evely, Semir, Youngor, moco, Jack&Jones and ubras are also among the top 10 sales of clothing and accessories on Tmall.
From left to right: Uniqlo, Bosideng, Bananain
TikTok launches its first global promotion, linking markets in six countries
TikTok is undoubtedly one of the most discussed topics in the content e-commerce industry this year. TikTok's cross-border e-commerce business was officially launched last year. After a year of development, it has gradually accumulated experience and resources in markets such as Southeast Asia and the United Kingdom. This year, TikTok announced the official opening of its first global promotion, covering three important e-commerce festivals, Double 11, Black Friday, and Double 12, linking the United Kingdom, Malaysia, Singapore, the Philippines, Thailand, and Vietnam. The first shot of the overseas e-commerce promotion season.
As of now, the data of TikTok Douyin Mall shows that the top 3 categories of sales are clothing and accessories, beauty and skin care, and food and drinks. In particular, Chinese local brands are the most popular among consumers, and 90% of the top 100 best-selling products are Chinese local brands.
In the field of clothing and apparel, Yaofa Clothing, Tuntun Wearing Diary, lovemimius Yoululu, Hongling Cashmere Official Flagship Store, Laobei Light Luxury Women's Clothing Customization, Yaya Official Flagship Store, OZLANA Double Eleven closes at 5 o'clock on the 11th , chicmoss big cousin, Qianhui's clothing carnival at 11 o'clock on November 11, Xiaoyu's self-produced women's clothing and other live broadcast rooms broke into the top 10. The sales of the TOP3 live broadcast rooms were 15.7506 million yuan, 11.8988 million yuan, and 9.0536 million yuan, respectively, and the gap was not significant.
source: TikTok
The rules of the event are simplified to fight against the tired consumers
After years of impulsive shopping on Double 11, consumers have begun to desensitize to "Double 11 low prices" and can shop smarter. Based on this background, the Double 11 rules of various platforms also lack some routines: such as the full price reduction is intuitive, consumers no longer need to go through complicated calculations, cancel complicated gameplay, make it easier for consumers to obtain discounts, expand the capacity of shopping carts and renew Add functions such as grouping, topping, discount screening, etc., upgrade the price protection rules, and you can get back the price difference with peace of mind if you buy expensive, etc. Therefore, various merchant platforms are gradually returning to the essence of their business operations.
In addition, on Double 11, there were 130 brand members whose turnover exceeded 100 million yuan, and the turnover of more than 5,600 brand members doubled year-on-year. The "members" who successfully placed orders are the bargaining chips for the merchants' future operations. They will become the main force of the brand's "repurchase" and create conditions for the long-term sustainable operation of the brand.
Liu Yang, Chairman of the Greater China Retail Business of Bain & Company, an international consulting firm, said: "Despite the impact of changes in consumer behavior, the new crown epidemic and the global economic landscape, Double 11 is still of great significance to Chinese retailers. Double 11 The two major shopping events of 11.11 and 6.18 will together contribute about 12% of China’s online retail sales in 2021. However, customer loyalty is becoming the core motivation for consumers to participate in these shopping festivals rather than chasing low prices.”
The data statistics time is 10/31-11/11, source: TMALL Tmall & Tianxia Wangshang