"Rolled" for 15 years, this year's "Double Eleven" is cool!
In terms of the "sense of festival" and "carnival" brought by "Double 11", most consumers and businesses feel that "it is no longer lively". But the data doesn't lie, judging from the battle reports released by various platforms, the enthusiasm of consumers for this year's "Double 11" is still high. JD.com said that during the "Double 11" period, the sales of more than 60 brands exceeded 1 billion yuan, and the number of new merchant transactions increased by more than 5 times month-on-month. Tmall also said that the order volume and total turnover increased in an all-round way, and the turnover of 402 brands exceeded 100 million yuan.
Accenture, an international consulting agency, believes that with the recovery of consumption and the continuous release of consumption potential, the future prospects of China's consumer market are considerable, "measured by 2023 data, every 1% increase in online retail penetration rate will bring more than 300 billion yuan of business opportunities to merchants and e-commerce platforms." The many new trends shown in this "Double 11" have provided a key reference for platforms and brands to find the right track and anchor value.
"Rationality" reigns, and "sensibility" is never absent
In the context of rational consumption, consumption habits show "new three", that is, "do not buy useless things, do not stock up in advance", "reduce quantity, improve quality", and "fully study before purchasing". According to a report, nearly 60% of consumers "place an order for some must-buy products, and other optional products follow the fate";67.9% of consumers said they were "spending less on impulse";25.54% of consumers pursue "giving up and no longer buying dispensable things".
According to the 2023 Generation Z Double 11 Consumer Behavior Report, nearly ninety percent of young people participated in this year's "Double 11" activity: 434% of young people sort out their needs in advance and do a good job of product strategy;30.62% of young people will "place an order after comparing prices on multiple platforms and channels".
It is worth noting that the demand for "paying for emotional value" has led to a number of subdivisions. Tmall's "Double 11" went on sale for 1 hour, the e-sports keyboard switch rose by 600%, and the total number of consumers who bought and placed orders for Tmall luxury products was 15 times. On Pinduoduo, the high-end mattress brand Serta increased by 7,094% year-on-year.
When the product hits the user's emotional value, no matter how expensive it is, it can be sold. *The person in charge said.
The rise of domestic products, led by "young" new forces
Jingdong data shows that in this "Double Eleven", the amount of domestic consumption of the post-90s and post-00s people accounts for 62%, which is the absolute main force of domestic product consumption, and in 2021, this data is about 40%.
Data from multiple e-commerce platforms show that some domestic brands can "wrestle their wrists" with some international brands, and even sell better in some subdivisions. For example, on Pinduoduo, the sales of domestic beauty products such as Bee Flower, Yu Meijing, Shanghai Medicated Soap, and Kong Fengchun have increased significantly, and the sales of some hot-selling items have increased by more than 20 times. On October 31, on Douyin e-commerce, Yaya, Bosideng and UR won the top three in the "Double Eleven" brand list in the apparel industry.
Why do young people prefer domestic products?In addition to its own strong national pride, the "domestic product craze" has also benefited from the continuous construction of domestic products from product power to brand power in recent years. Tian Xuan, deputy dean of PBC School of Finance and chair professor of finance at Tsinghua University, said: "Our current domestic products have considerable product quality and high cost performance. ”
Through brand co-branding, meme-making, and live broadcast room interaction, major domestic brands keep up with the trend and continue to attract the attention of young consumers. On the Tmall platform alone, more than 100 domestic brands staged the "largest cross-border co-branding in history" and launched the "Double Eleven" hot stalk gift box.
Upgrade to "lazy", and "ultra-thin" is in the limelight
As early as 2020, there were more than 12.5 billion households, accounting for 25% of the total number of household registrations in the country. More and more young and middle-aged people choose to live alone, which also makes the lazy economy of spending money to buy convenience and time more popular.
Under this trend, home appliances that are more suitable for the "lazy economy" and quality of life needs are very popular during the "Double 11" period. Taking washing machines as an example, there are 7 washing and drying sets in the TOP10 list of the "What is worth buying" app. Suning Tesco launched the "9The "9 yuan household appliance cleaning plan" sales increased by 147% year-on-year during the big promotion period.
On the whole, high-end, green, and intelligent are still the main keywords for the replacement and upgrading of household appliances. In terms of range hoods, the industry sales, sales volume and average price were 2.7 billion yuan, 1.4 million units and 1,912 yuan respectively, a year-on-year increase and a year-on-year growth rate. Suning Tesco data shows that the sales of dishwashers increased by 125% year-on-year, while in the township market, the sales of integrated stoves increased by 138% year-on-year, and the sales of anti-dry burning gas stoves increased by 90% year-on-year.
The ultra-thin smoke machine shined in this year's "Double Eleven" event. More than 25,000 units of Vantage ultra-thin smoke machine series have been sold on the whole network, and more than 23,000 units of the three-cavity series have been sold on the whole network. During the promotion period, Vantage's C-end pure retail sales increased by 50%, of which JD.com's self-operated platform exceeded 60%, ranking among the top 1 growth rates of the head brand of kitchen appliances.
Summary: In the era of "desensitization", sincerity is nirvana
In this "Double Eleven" chaotic war, the Jingdong procurement and sales live broadcast room was born, and the broadcast location was in the conference room, there was no "praise" to assist the broadcast, and the live broadcast link was made. This kind of "back to basics" operation has more than 1400 million consumers poured into the live broadcast room.
* Desensitization, gimmick desensitization, joint desensitization......Consumers are becoming more and more rational, as if they "see through everything". Merchants want to impress them, only sincerity is nirvana.
Gone are the days when brands and merchants relied on a single hit product or category to meet all their needs. In order to win the long-term favor of consumers, it is necessary to be guided by high-quality consumption, people-centric, and use differentiated products, complex product matrix, and flexible and considerate customer service to attract and retain customers. List of high-quality authors