Reporter of the Economic Business: Wang Ziwei Editor of the Economic Business: Liu Xuemei
"The stars shine, I only pick 1001."
On November 30, it was discovered that the 1001-2022 Double 11 special "Future Business-New Consumption Monthly Vitality List TOP30" was released.
This is a series of monthly lists (with special links) that continue to be released in September 2021, Daily Economic News and the Digital Economy Integration Innovation and Development Center of the Central University of Finance and Economics launched the "Discover 1001•Future Business-New Consumption's 'Light Chasing Plan'" (with special links).
This year marks the 14th Double 11, and it is also the first Double 11 on e-commerce platforms that did not announce GMV. Farewell to the large screen and GMV numbers, Double 11 jointly created by Alibaba, , JD.com, and Douyin e-commerce, which has only started to participate in the war in the past three years, is not only a feast for consumption, but also pursues value above business and better serves the development of the real economy.
But every Double 11 is still an important window to observe the resilience and vitality of new consumption and the development of new brand trends. For new brands, Double 11 is not only an important node for reducing sales, but also the biggest "touchstone" to test the market.
When Double 11 is no longer centered on GMV, and when consumers are more rational in shopping, which new brands are rising against the trend? What have these new brands done right to make consumers so favor it? This list focuses on new consumer brands that stand out during this Double 11 period, at the moment when the consumption wave is in decline and under the examination of more mature and rational shopping concepts.
Our evaluation time dimensions are selected from October 24 to November 11, 2022, covering the entire Double 11 cycle starting from pre-sales. The participating companies are mainly based on the independent registration of new consumer brands and recommendations of platform/investment institutions, combined with media platform research, and finally the ranking is obtained through our system and multi-dimensional scoring system.
Since many e-commerce platforms have voluntarily cancelled the release of GMV data and related industry rankings, our list is based on the sales big data of Tmall 2022 Double 11, the entire industry and category of Tmall for 2022 Double 11 provided by Jiuqian Consulting to screen out the top new consumer brands. This data has been deducted from unsold/return orders during the statistical period (October 24-November 11). The price has been discounted based on product page coupons, store discounts, and top anchor discounts. Given that sales rankings directly represent consumer voting, this data weight accounts for 60% of this list. We simultaneously combined the sales rankings of some industries announced by Douyin e-commerce and other platforms to screen out the corresponding new consumer brands and convert them according to the corresponding weights.
is based on the network communication popularity index algorithm provided by Micro Hotspot Research Institute. The new brand "Industry Influence" score weight accounts for 20%. This index refers to the index that can reflect its attention on the Internet platform based on massive information about websites, interactive forums, Weibo, official accounts, clients, videos, digital newspapers, evaluations and other Internet platforms, and after standardizing the extracted information, it can reflect its attention on the Internet. The information pointed out in the popularity of the Internet does not distinguish between positive and negative information, but brands that obviously have negative public opinion due to incidents such as business, quality control or consumer rights protection can be disqualified from participating in the month after the evaluation team evaluates them.
Considering the growth of new brands, the new brand consumption financing strength scores provided by Qichacha also account for 20% of the list weight.
As a professional financial media that has been deeply rooted in the field of listed companies and pays attention to the development of the new economy, the Future Business Think Tank under the Daily Economic News continues to launch this new consumption monthly vitality list. We hope to use this as a window to deeply understand the real business ecology and development trends in the new consumption era of the future business field. Through incubation and tracking of the continuous quantitative and qualitative changes of new brands, we can wash away the sand and remove the drought and preserve the essence, and take the pulse of new consumption, new national trends, and new intelligent manufacturing under the historical opportunities of the times.
[Highlights of this issue]
Personal care and food categories on the list account for more than 50% of the cumulative proportion of
Maternal and infant new brands broke out of the dark horse
The new brands on the list this time are distributed in multiple tracks, including personal care categories (including makeup, skin care, washing and care brands, etc.), food categories (including brands such as light food, fresh food, sports and meals), electrical appliance categories (metaverse equipment, small household appliances, etc.); as well as clothing, maternal and infant, pet categories, etc.
From the overall classification of brands on the list, personal care products and food products have become the categories with the most new brands on the list. The two major categories occupy 7 seats and 9 seats in the TOP30 respectively, accounting for 23.3% and 30% respectively. The two major categories account for more than 50% of the brands on the list.
adopted a cow during this Double 11 period, ranking first among food self-cast merchants. In our list, adopting a cow also ranks first in the food category, third in the overall list, and its brand sales power ranks first in the first echelon. It is understood that adopting a cow is ready for multi-category lines early to achieve the "small goal" of Double 11 sales. Maintaining gross profit margin is a brand's hard KPI.
Image source: Adoption of a Cow Official Weibo
The second-ranked brand in the food field and focuses on European bags, Kaka Industry, has a big gap in rankings from adopting a Cow in the overall list. As the brand on the list for the first time, the brand currently has no financing and moderate performance in micro-hot spots, and relies on sales to boost its rankings. The brand also ranks first in the Douyin food brand list.
But Kaka Industry has also been questioned by consumers recently because of the opaque ingredient list of avocado cheese Qiaoxin European bread. Although Kakaye explained that this product was a tasting gift, the recipe was temporarily kept confidential and so it was not disclosed. But in any case, if a brand does not disclose the ingredients list, there may be food safety risks, and corporate behavior may also violate the relevant provisions of the Food Safety Law.
Food problems are nothing small. For new brands, compliant operations are the right way to become evergreen brands.
It is worth mentioning that as a derivative brand of the variety show " Fengwei ", Fengwei Pai, founded in 2021, was also successfully listed on this list. Fengwei is a quality kitchen food brand that cooperated with Nicholas Tse and the original live streaming anchor Weiya. The legal representative of the brand is Weiya's husband Dong Haifeng . "Program ip + star effect + professional e-commerce trading team" made Fengweipai popular.
In addition, fresh food brand Ocean Romance and Quick Sales Food Zhaimao Diary are also on the list.
care fields, functional skin care brands "win a lot". The effective plant-based skin care brand Guyu, Dr. Aier, a scientific skin care brand that deeply studies micro-ecology, and Mibeier, a sensitive skin functional skin care brand, ranked first, second and third in the category of personal care.
Among them, Guyu ranks the top 1 new brands on the Douyin platform, and Mibeier's total transaction amount for Douyin Double Eleven exceeded 50 million, an increase of 500% year-on-year on Double Eleven last year. In addition, HBN, a brand of efficacy skin care founded in 2019, ranked 14th on this issue.
Image source: Guyu Skin Care Official Weibo
During this Double 11 period, domestic household appliances and equipment sold a small climax. Among the top 30 lists, four new electrical appliance brands were on the list, accounting for 13.3%.
focuses on the domestic brand of Zhuimi Dreame in the smart home appliance industry. The brand takes intelligent cleaning as its core business and continues to expand new things in personal care and life. Its main products are wireless vacuum cleaners, sweeping robots, floor washing machines and other categories. During this Double 11 period, Zhuimi performed outstandingly among the new Tmall brands and ranked 16th in the TOP30 list. Mijia and Yunjing are also on the list.
This year, the popularity of the Metaverse equipment remains high. The VR all-in-one brand PICO, which released a new product in the second half of this year, rose to second place in this list and ranked second on the Douyin new brand list.
In addition, new maternal and infant brands and new domestic pet products have become dark horses. Among them, the maternal and infant brand Babycare ranks first in multiple dimensions such as micro-hot spots and sales scores, and its comprehensive ranking is also ranked first in the TOP30 list this time.
Image source: Babycare official Weibo
It is understood that during this Double 11 period, Babycare's omni-channel GMV exceeded 1.4 billion. The fist product purple cover wipes sold over 5 million packs during Double 11, while the Babycare bear wipes sold 11 million packs.In addition, Babycare's official flagship store's baby diapers sales have once again surpassed traditional international giants in multiple channels such as Tmall and JD.com, and ranked first.
In the pet track, the brand founded in 2019 is endless, and the brand Kairuisi , founded in 2015, successfully broke through under the siege of international big brands and successfully entered the TOP30 list. The latter's omni-channel sales exceeded 40 million during this Double 11 period.
[Data Mining]
Lifestyle "dominates the list" New consumption "retains volume" competition:
New brands face stronger "big brands" fighting
In this list, we can clearly see that under the comprehensive influence of factors such as the epidemic, improving health awareness, and paying attention to consumption quality, consumers' lifestyles have undergone relatively big changes. This is also directly reflected in the consumer field, allowing many new brands from related tracks to break out.
Among the new brands on the list this time, under the leadership of the concept of "eat healthily", sports diet and maintenance and nourishing brands are on the list.
For example, for the first time appeared on the 1001 list, Notland, a brand under Shandong Spert Biotechnology Co., Ltd., whose main products are mainly protein powders needed by fitness professionals.
In addition, the "old customers" on our 1001 list mainly include WonderLab, a new brand mainly based on meal replacement shakes, probiotics and dietary fiber. High protein, nutrition, low calories, fullness, and 0 sugar are the biggest selling points of brand products.
focuses on the field of light food, mainly engaged in chicken protein, meal replacement staple food, breakfast drink, fitness seasoning, and fat-reducing snacks. It is committed to product research and development, providing healthy life guidance, market pricing, and meeting the consumption needs of a variety of light food categories.
Image source: Blast muscle unicorn official Weibo
Long-term home life has also made the concept of "comfortable living" deeply rooted in people's hearts. Smart home appliances and electronic devices improve living scenarios and have made relevant new brands successfully shortlisted for the list. For example, smart appliances such as Zhuimi, Yunjing, Mijia, and PICO were successfully on the list.
Many new brands start from details, focus on segmented areas, and focus on solving the subtle needs and pain points of consumers in various life scenarios. Many new brands that focus on segmentation needs in the field of beauty, personal care are on the list.
For example, the beauty technology brand Miguang AMIRO mainly targets the beauty-loving women, with smart home beauty, beauty, personal care electronic products, such as sunlight vanity mirrors, laser freezing point hair removal instruments and radio frequency beauty instruments as the main products. Like Fengwei School, Miguang also attaches importance to the star effect. In September this year, Miguang officially announced that Gao Yuanyuan was the spokesperson for his brand. The multiple effects of "National Goddess + Domestic Beauty Device" have superimposed, allowing Miguang to successfully break through with the double-team of overseas brands such as Yameng and Philips.
shampoo brand three magicians. The brand applies medical standards to personal care products, and anti-dandruff shampoo becomes its out-of-the-box product.
In this list, what is more surprising is the traditional advantage category - clothing. Unlike the previous lists, during Double 11, clothing brands are no longer "big players" on the list, and there are three clothing brands among the top 30 this time. 10%.
The regular customers on the previous list - Ubras and Banana, are listed, and the other one is Fat Tiger Luxury, which mainly uses second-hand luxury goods.
We have checked all the brands selected this time, and new clothing brands are still shortlisted for this list in single digits. In fact, it is not just a clothing brand. We found that in the pet track and makeup fields, the sales power of international big brands should not be underestimated. After calculating sales power as a brand dimension this time, the pattern of new brands has changed a lot.
We believe that the number of new brands in many categories that have been selected for the decrease in the number of new brands in the list may be the following reasons:
On the one hand, the traffic of major platforms has reached its peak, and they have shifted from traffic competition to "retaining volume" competition. Under the multi-dimensional "involving" of products, prices and services, new consumer brands are facing a stronger siege of "big brands". At the same time, domestic big brands have also taken advantage of the national trend to rise. Taking a clothing field as an example, such as Anta, Li Ning, Bosideng and other domestic brands ranked among the top brands in sales.The seasonality of clothing is strong. During this Double 11 period, the demand for warm clothing may make down jacket brands that specialize in the industry sell well.
On the other hand, there are also international brands that still have a certain "monopoly" position in the domestic market. For example, in the pet track, in the sales ranking provided by Jiuqian Consulting, three international brands, Myfoodie, Royal Canin, and Orijen, have become the top three in the pet track. Among the top ten lists, only three domestic brands are among them, and only Kairuisi is the new brand (the other two brands are NetEase Yanxuan and Weishi ). There are also many new brands in the
pet track. There are 8 new domestic brands shortlisted for our list this time, but after many dimensions, there are only two brands on the list: Victory and Keres. If the market "monopoly" position of international big brands cannot be broken, new pet brands can only face fierce competition in their remaining market share.
In addition, the factor that must be considered is that perhaps the rising marketing style of marketing will no longer work, and the more rational consumption concept may cause the growth of new brands that focus on personality and value marketing but do not rely on excellent product support and lack of transformation capabilities in the future.
In addition, when the toys, pets, sports outdoors and jewelry industries, which are known as the "New Four King Kongs" in the e-commerce circle, the development of new brands in the two industries that were originally the "Old Four King Kongs" may be more difficult than before.
is listed on the brand. Many new brands are constantly adjusting during the development process, changing their growth methods in a timely manner, withstood the tide of elimination, and establishing their brand image in the minds of consumers.
We believe that the future market will be a competition for these new brands.
[financing window] The top ten financing brands on the
list account for 90%
Capital still has a "parent company" to keep warm and keep cold
2022, capital entering the new consumer field has become more calm. Dominantly by more rational factors, the amount of funds invested in new consumption areas has decreased compared with the previous two years. For capitals with funds, the inspection period for investing in new brands has become longer.
The difficulty of mature brands that have invested in multiple rounds to obtain a new round of financing in capital market is also increasing, and capital is also more cautious in the amount of additional investment. More capital is concentrating on high-quality targets for new consumption.
Even so, from 618 to Double 11 this year, the two major brands, five female doctors (fivedoctors), a new brand in the beauty and beverage field, and Yunjing Narwal, and the home smart appliance brand, officially announced financing.
Five female doctors were founded in Beijing on September 18, 2019. They are jointly created by five female doctors from Peking University . The brand focuses on "oral drinks" and is a brand of cosmetics and beverage products.
Qichacha information shows that on June 30, 2022, five female doctors completed strategic financing invested by Huaying Capital, and the amount of financing was not disclosed. Within one month of this financing, the five female doctors completed another strategic financing by Shuiyang Group Co., Ltd. on May 27, 2022, which owns multiple independent skin care brands such as Yunifang and Xiaomihu.
We have particularly noticed that if the five female doctors look at sales rankings only, the score ranking of this Double 11 has entered the second echelon and the top 2 nourishing brands in Douyin Mall.
But five female doctors are also facing brand controversy. For example, in the promotion of collagen peptides for products, the promotion of "delaying aging", "whitening", and "removing yellowing" makes the testing and experimental variable control and sample size of related products doubtful. In the scientific research community, there is still some controversy about whether collagen peptides can have the above effects. There are even consumers in the market who have reported that after drinking the "Five Female Doctors", they have adverse reactions such as gaining weight and menstrual disorders.
We believe that with the increasing number of "ingredient parties" in the skin care field, and consumers in the diet field care more about the concept of reasonable and nutritious diet becoming the mainstream of consumption, the brand has captured this consumption trend, which is one of the reasons why brands can cut financing in the "cold winter" of financing. However, in the process of building a brand, as the killer weapon of functional products: whether the ingredients are safe does not respond well to the market and consumers.
comprehensive consideration, we did not put five female doctors on this Double 11 list.
Yunjing Narwal was established in 2015. The brand is committed to developing service robot to improve the quality of life. The brand's products are sweeping and mopping robots, which have been updated to the third generation.
According to the "2021 China Home Service Robot Industry Research Report", Yunjing ranks second in market share. Public data shows that in the first half of 2022, Yunjing ranked among the top three in the online sales of China's sweeping robots with a market share of 15.8%.
Image source: Yunjing official Weibo
Qichacha information shows that Yunjing has accumulated 6 rounds of financing, and the most recent round is a strategic financing completed by Tencent Investment in August this year. In 2020, Yunjing completed consecutive rounds of B and C financing in April and June, with investors such as Dami Venture Capital, Yingfeng Holdings, Source Code Capital , ByteDance and Senior Capital, Sequoia China, etc.
Among the 30 new brands on this issue, 20 new brands have had financing records. Among the top 10 new brands, the proportion with financing records is even higher, reaching 90%. The only brand in the top 10 that has not been raised is Huaxizi, a cosmetic brand that insists on "not financing easily".
It is worth noting that the top brands on this list are also supported by the "parent company". For example, the metaverse equipment brand PICO launched its new product PICO 4 in the first half of the year, and has been acquired by Byte. It is rumored that the acquisition price has exceeded 9 billion yuan.
Before this, PICO completed four rounds of financing: in January 2018 and July 2018, completing the angel round and 167.5 million yuan A round of financing. In December 2020, PICO completed a 193 million yuan round of financing participated by Keystone Wealth, China Power CICC and CICC Capital. After March 2021, PICO completed a B+ round of RMB 242 million financing participated by investors such as Cornerstone Capital, China Merchants Capital, China Construction Bank International and other investors.
The fresh food brand Tianhaizang, which was listed for the first time, is a brand under Beijing Zhongdahui Agricultural Trading Co., Ltd., which was established in 2008 and has made efforts in four major fields: organic food home delivery, health gifts, supermarket supply and distribution channels. Its products and services have been applied to 68 cities in China and Chinese regions in Australia, the United States, and New Zealand abroad, serving more than 2,000 corporate customers.
The parent company of Mibeier, a brand that performs well in the protection track, is Huaxi Biological , and the smart appliance brand Mijia, is from the listed company Xiaomi , which specializes in carrying Xiaomi supply chain products. .
Looking at the brands that have received financing in 2022 and are on the list, there are also smart home appliance brand Zhuimi and personal care brand KONO. In addition, it is worth noting that the contact lens brand MOODY, which has received a large amount of financing of over 1 billion yuan, ranks second among the financing brands, second only to the financing amount acquired by PICO for 9 billion yuan.
Judging from the summary of the list, the new and old categories have obvious changes. The more personalized and functional beauty and personal care track sub-brands have become the "big financing provider" in recent times with smart home appliance brands. Although many new brands on the list do not have the support of financing capital, the support from the parent company still gives the new brand a strong blessing.
[Trend Insight]
Smart Home Appliances "group to the list"
New brands break through more favors health, technology, and supply chain
From the list, we have more obvious feeling that consumption is starting to be more "healthy".
For example, brands on the diet, whether they are light food brands or nourishing brands, are new consumption trends that are ignorant under the healthier diet concept.
For example, two maternal and infant brands, Akita Manman and Babycare, have revealed to us that many baby products, such as cups, baby complementary foods, are young people without children, because baby-grade foods make consumers feel more at ease.
includes fresh food brands, such as Tianhaizang, a fresh food brand that was on the 1001 list for the first time. The brand focuses on selecting healthy ingredients from the source. During this Double 11 period, Tianhaizang ranked third in the Douyin Mall fresh food brand list.
Organic food brands have appeared in our list last year, such as the brand Rainbow Planet Cooperative.In this list, the brand still ranks high in sales power and other dimensions, but due to the negative public opinion and controversy, we did not include it on the list.
's health concern also includes daily disinfection. Deyou, a brand that focuses on daily cleaning and mainly uses baby hand and mouth wipes and alcohol disinfection towels, is on the list, and its brand sales force dimension has contributed a lot.
What is more noteworthy is that since this year, the impact of technology on the consumer field has become more prominent, and new brands on the list also have a special liking for new technologies.
For example, smart home appliances "grouped to the list", and it was on the list for the first time, which was reflected in the continuous improvement of the intelligent and technological content of product innovation.
We believe that young people live alone and lazy homes, making them spend a lot of money on smart products that solve segmented needs, which is the main reason for the rapid growth of consumer demand for smart home appliances.
In addition, under the premise that 5G technology, meta-universe and other technologies are constantly integrated with consumption boundaries, VRAR devices, virtual people and other consumption meta-universe shine into reality. VRAR equipment is very popular, PICO is on the list for the first time and directly reaches the second place on the list.
Whether in terms of consumption power or consumption demand, there is still potential in the field of metaverse.
According to VR gyroscope statistics, the global VR headset shipments in 2021 were about 11.1 million units, and increased by 66% year-on-year. The global shipment of H1 VR headsets in 2022 is about 6.84 million units, and it is estimated that the global shipment of VR will reach 14.5 million units in 2022.
We also see that as the customization and personalization of consumption continue to deepen, the supply chain companies behind new consumption have begun to quickly develop and grow.
For example, in the process of exploring headsets and interactive technology players in the VR/AR field, supply chain manufacturers such as screens, optical solutions, and even software engines, chips, etc. have begun to develop rapidly. Whether it is the terminal or industrial chain , VR-related, can be regarded as the starting stage, and there is a lot of room for growth in the future.
The view of the new consumer investment field, we have seen that the supply chain companies behind the popular investment track have become the key projects that VCs compete for, such as Tianye Co., Ltd., a supply chain company for the new tea brand.
We believe that investing in supply chain companies that already have great potential and are still in the infancy track may become the main direction for investment institutions to explore in the future.
[Expert Comments]
Chen Duan: High-quality development is embedded in innovation consciousness and ecological coordination
In the past year, innovation highlights have frequently appeared in the new consumption field, and innovation main body has risen and fallen, and at the end of the year, looking back at the past and glimpses the future through Double Eleven consumption big data, and it has reference value for the next round of innovation of platforms and merchants.
We see that this year, affected by internal and external environmental factors, residents' consumption habits, consumption preferences, and consumption choices represented by Generation Z have shown relatively obvious structural changes. This is closely related to the adjustment of lifestyle mode brought about by epidemic prevention, the improvement of product function quality by technological elements, and the migration of consumption preferences under the support of new hardware. It is also closely related to the active guidance of supply-side product innovation that pays more attention to IP tone beyond functions, circle recognition and emotional comfort, such as active guidance such as consumption added value.
The changes in consumer preferences revealed behind the changes in the category structure of hot-selling products this year's Double 11 have important reference value for subsequent product research and development optimization and category innovation.
Take food as an example. Products such as "Baojian Unicorn" and "Zhoumao Diary" with popular segmentation, function segmentation and scene segmentation are hotly sold, indicating that consumers' requirements for quality of life are still increasing, and people's expectations and yearning for a better life have not changed. The consumption upgrade that everyone discussed a few years ago is being expressed in another form against the background of the basic stability of the total retail sales of social goods. For merchants, whether they can more accurately grasp and explore the changes in consumers' deep consumption motivation, consumption psychology and consumption needs based on different scenarios, and use more accurate product supply to allow consumers to have a better sense of gain and satisfaction under the same budget framework may also be the key to the next round of innovative competition.
From another perspective, every economic growth rate decline is a process of washing sand and clearing out old production capacity. The road to competition for product strength simply relying on low-priced and good-quality products is becoming increasingly narrow, forcing commercial operators to grow into innovative entities that continue to iterate themselves.
The difficult transformation of China's economy from rapid development to high-quality development is also reflected in the process of innovation consciousness and ecological coordination among these business entities. Platform-based enterprises, third-party data institutions, professional media release platforms, professional research institutions and small and medium-sized innovation entities on the platform cooperate in depth. Through data mining and trend analysis of the industrial development trend, the overall ecological evolution of new consumption is one of the key factors for resisting the cold wave in the environment of downward economic growth. (Chen Duan: Director of the Center for Integration and Innovation of Digital Economy of Central University of Finance and Economics )
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