Most of the "Double 11" event in 2022 has passed, and it will enter the final battle on November 11. Despite the combined impact of factors such as repeated epidemics, limited logistics, and decline in the growth rate of global economy, Double 11 is still a shopping festival with the participation of the whole people, and plays an important role for Chinese brands and manufacturers. The data of the first round of pre-sale report of
also confirmed this. At 8 pm on October 31, Tmall Double 11 pre-sale officially started for one hour. The transaction volume of domestic brands such as Peraya , Winona , Natural Hall , Huaxizi exceeded 100 million in succession. The beauty industry still occupies the C position of Tmall Double 11. Among the strong mobile phone categories of JD.com , brands such as Apple, Xiaomi , Huawei , Honor , OPPO, iQOO, OnePlus, etc., had a year-on-year increase of by more than 210%. The growth rate of content e-commerce platforms is strong. As of 24:00 on October 31, the transaction volume of Douyin mall increased by 629.9% compared with the same period last year, and the average customer payment price increased by 217.1% compared with the same period last year after the sale.
Unconsciously, Double 11 has gone through its 14th year. From the initial 0-point instant sale, to the advance deposit pre-sale, and then to the later live broadcast room, the shopping format of Double 11 is changing, and the mentality of consumers, brands, and platforms is also changing. A reporter from Nanduwan Finance found that for consumers, Double 11 this year is still a good opportunity to stock up on goods, but consumers will compare and buy after purchasing between multiple platforms, and shopping needs are more focused on urgent consumption; for merchants, it has become the norm to plan 3-4 channels to participate in Double 11, but the dispersed channels and the extended promotion cycle have also exacerbated the pressure of small and medium-sized merchants; for platforms, Double 11 has evolved from being dominated by Taobao and JD to now into a multi-dimensional melee of traditional e-commerce, content e-commerce, live e-commerce, social e-commerce and physical retail companies.
"For us, this year's Double 11, everyone no longer expects a growth miracle. We hope to achieve a Double 11 with healthier financial profits." A merchant who participated in Double 11 for the 13th time told a reporter from Nanduwan Finance and Social Security that in addition to traffic and transaction volume, merchants and consumers are more rational and pragmatic.
[Change 1]
content e-commerce rise divert transaction volume
"This year, we still mainly promote new products as usual, increasing the promotion fee by 3 times. However, the general reaction of new products is not very good. In addition, the factors that express delivery cannot be shipped, the overall cash is less than one-tenth of the original," Hu Wei (pseudonym), a merchant who has participated in Double 11 for eight consecutive years, told Nanduwan Finance and Social Security reporters. Reviewing the changes in Double 11 in recent years, Hu Wei believes that the biggest feeling is that the channels are becoming more and more. "For example, channels such as Tmall, Pinduoduo, and Douyin have to be done, resulting in distraction of personnel's energy and inability to concentrate on explosions. Various platforms have diverted transactions on Tmall Taobao. The rules of each platform are not unified, and the cycle is too long, it is difficult to form the previous explosive transactions."
Nanduwan Finance Society reporter interviewed more than 10 merchants from the fields of clothing, home furnishings, digital, trendy toys, etc. These merchants have chosen to participate in Double 11 on multiple platforms, including Taobao Tmall, JD.com, Pinduoduo, Douyin, Vipshop , Kuaishou, etc.
"In the past, Double 11 was Taobao and Tmall's Double 11. Now, it has formed a multi-platform melee such as JD.com, Vipshop, and Douyin, and the participation methods are more diverse, such as private domains and live broadcasts." Qu Jing, vice president of of Huimei Group, told Nanduwan Finance and Social News, "This year, Double 11, we still use Tmall as the main battlefield, and will pay more attention to the operations of members, private domains and live broadcasts."
Huimei Group Foshan Lishui Warehouse.
Lin's Home Furnishing, which also grew up from the Taobao brand, has increased its content e-commerce this year. "The first wave of sales results of Tmall Double 11 in 2022 have been released. We exceeded the transaction volume of 746 million yuan last year in 2 hours and 19 minutes." Lin's Home Furnishing told Nanduwan Finance reporters that the attempts of new channels are mainly reflected in the use of the "content e-commerce" platform. For example, this year, there are layouts in new media e-commerce channels such as Douyin, Kuaishou, Dewu, and iQiyi . Among them, Douyin is the main channel of Lin's Home Furnishing's "content e-commerce", accounting for 90%.
Lin’s Home Furnishing employees prepare for Double 11.
time-honored brand Macau Yonghui chose to participate in the battle in four channels: JD.com, Maochao, Douyin, and Tmall flagship store ; the smart charging brand Anker innovatively chose to participate in the Double 11 activities of the three major platforms of Tmall, JD.com and Douyin. "The first 4 hours of Tmall platform, , increased by a large year-on-year compared with , and we reached the top 3 stores in the 3C digital accessories industry; the JD platform broke the whole day of last year's transactions in 32 minutes; the Douyin platform's good start data shows that the cumulative transaction volume on the 31st doubled compared with last year's year-on-year," said the person in charge of Anke Innovation E-commerce business.
It is not difficult to see through the merchant layout that Double 11 is still the home court of Tmall and JD.com, but the rise of channels such as Douyin, Kuaishou, and Pinduoduo have become an indisputable fact to divert Tmall and JD.com, and the growth rate of the two major platforms also slowed down last year.
Tmall Double 11 transaction volume in 2019 was RMB 268.4 billion, a year-on-year increase of 26%; in 2020, Tmall extended the one-day promotion event on November 11 to 11 days, and a transaction volume of RMB 498.2 billion was generated during the event, but according to the same cycle and the same caliber, the year-on-year growth rate was 26%. Subsequently, the cumulative transaction volume during Double 11 in 2021 was 540.3 billion yuan, with a year-on-year growth rate of only 8.5%.
is a coincidence. JD.com's Double 11 transaction volume in 2019, 2020 and 2021 was 204.4 billion yuan, 271.5 billion yuan and 311.4 billion yuan, respectively, and the corresponding growth rate has gradually slowed down, at 27%, 32%, and 15%, respectively.
Judging from the first wave of battle reports released this year, the growth rate of Douyin's transaction volume is strong. As of 24:00 on October 31, the transaction volume of Douyin Mall increased by 629.9% compared with the same period last year, and the sales were launched for one hour, and the average customer payment price increased by 217.1% compared with the same period last year.
[Change II]
The top anchors stir up the live e-commerce landscape
Double 11 has reached its 14th year, and it has gradually evolved from a big promotion initiated by Taobao and Tmall to a shopping festival known to everyone and participated by hundreds of thousands of merchants. Behind it is also accompanied by the platform battle that has lasted for many years, including traffic battles, top merchant battles, sinking market battles, etc. But in the past two years, the focus of competition has undoubtedly become live streaming and selling goods.
Faced with Douyin and Kuaishou's close pursuit in traffic and e-commerce business, this year's Double 11, Tmall will focus its firepower on top anchors, especially on external anchors. In addition to Taobao live , the number one Li Jiaqi, , which made a comeback on September 20, on the eve of Double 11, TikTok top anchors such as Luo Yonghao, , Yu Minhong, , Liu Genghong, and other Douyin. They also announced that they began to sell goods on Taobao live. Yaowang Technology also opened its Tmall Double 11 live broadcast debut on October 24. That night, the agency's cooperative artists Cecilia Cheung , Jiang Chao , Medina , etc. all appeared in the live broadcast room as "flying guests". As a veteran player who entered the live broadcast industry since 2018, Yaowang Technology's "main battlefield" was originally on Kuaishou and then expanded to Douyin. This year it became the only live broadcast company that spans the three major platforms of "Dou, Kuaishou and Tao".
From Luo Yonghao, Yu Minhong, Liu Genghong to Yaowang Technology, the "entering in Taobao" of many big names has ushered in a "highlight moment" in Taobao live streaming and also stirred up the pattern of live streaming e-commerce, which means that the strong bonding relationship between top anchors and platforms has collapsed, and cross-platform live streaming has become a trend. Taobao live broadcasts, with sales as the core, are ushering in an explosion. On the evening of October 31, Tmall Double 11 was on sale for one hour, and the total view of Taobao live broadcast increased by 600% year-on-year, and the viewing time increased by 60% year-on-year, which led to a 250% year-on-year increase in the transaction volume of low-level anchors.
In addition to borrowing traffic from the top anchor circle, Taobao is also increasing its support for small and medium-sized anchors. Data shows that in the past year, Taobao has added more than 500,000 new anchors. In the first two months of Double 11, more than 100 live broadcast institutions have settled in Taobao, including leading live broadcast institutions such as Yaowang Technology and Wuyou Media.
It is worth noting that during Double 11, another change in live e-commerce was the "combination" between Kuaishou, Tmall and JD.com. On October 28, Alibaba announced the re-activated of the "close cooperative relationship" between Kuaishou and Taobao. On the same day, JD.com also announced that Kuaishou will resume cooperation in the JD alliance on October 29.
Since 2019, with the rapid development of live e-commerce, Douyin and Kuaishou have built their own malls, and their relationship with Alibaba, JD.com and Pinduoduo has also changed from traffic cooperation to head competition.Among them, since October 2020, Douyin no longer supports third-party products to enter the Douyin live broadcast room. Kuaishou cut off Youzan's link in November 2021 and cut off the links between Taobao Alliance and JD Alliance in March 2022. Now, the shopping links between Taobao and JD are re-listed in the Kuaishou live broadcast room, and the competitive and cooperative relationship on the live e-commerce track will be reversed again. Compared with
, Douyin has no obvious move in live broadcast and opening up external links. This year, Double 11 still focuses on shelf e-commerce, providing consumption coupons, goods subsidies and traffic subsidies to support Douyin platform merchants. A relevant person in charge of Douyin e-commerce said that this year's Double 11 platform will focus on exploring the possibilities of mall scenarios based on the global interest e-commerce, and make full efforts in shelf e-commerce to establish diversified channels for merchants' business growth and consumer quality shopping. At the same time, social value creation, consumer rights protection, , logistics protection, etc. will also be the focus of the platform's long-term development.
In addition, WeChat Video Account also joined the melee of Double 11 this year. It is reported that the live broadcast of "11.11 Carnival " on WeChat Video Account will last from 8 pm on October 31 to 24 pm on November 11, covering clothing, food, beauty, jewelry, 3C digital, hotel, tourism, books, education and training and other categories. According to data provided by WeChat , at the end of 2021, the sales of live streaming on Video Account live streaming increased by 15 times compared with the beginning of the year. The overall repurchase rate of users in Video Account live streaming rooms exceeded 60%, and the average customer price exceeded 200 yuan.
[Change Three]
Shopping cycle is extended, channels are scattered
For leading brands, multi-channel operation has become the norm. However, several small and medium-sized businesses told Nanduwan Finance and Social Security reporters that the investment in some new channels did not achieve the expected growth effect, but instead increased the pressure on operation personnel. In addition, the overall budget was tightened this year, making it more difficult to maintain multi-channel investment.
"Multiple platforms have become a path that merchants have to choose. As long as there are new channels, new traffic and business will be generated, which will bring incremental results on the surface, but there are many hidden costs behind it. For example, there are about 4-5 channels now that are the standard for many brand merchants, and each channel has a separate team behind it. From data analysis, operations, goods to customer service, they may be independent." Peng Xinyu, CEO of Lingyang, told Nanduwan Finance and Social News, "Overall channel operation seems to be a major trend in recent years, but I think it is caused by anxiety. This year, everyone will find that after the investment of multiple platforms, the next step is how to converge."
In the past two years, another major change in Double 11 is the lengthening of the timeline. According to statistics from Nanduwan Finance and Social Security reporters, the current Double 11 activity cycle of major platforms is between 20-25 days. Among them, the cycle of JD Double 11 activity is from October 20 to November 13, with a total of 25 days. The entire cycle is divided into two rounds of major promotions, with a total of 5 stages. Tmall Double 11 will start pre-sale at 8 pm on October 24, the first wave of sale will be launched on October 31, and the second wave of sale will be launched on November 10. Vipshop and Pinduoduo both started pre-sales at 8 pm on October 20, and activities such as "Douyin Double 11 Good Products Festival" and Xiaohongshu "11.11 Buy and Buy Festival" also started pre-sales on October 24.
In Hu Wei's view, major platforms will advance the pre-sale time this year, and the team will no longer have to stay up late to work overtime. However, the extended pre-sale cycle has led to the dispersion of consumer nodes, the distribution of sales is relatively even, and the atmosphere of consumer buying has become worse, and there is no longer the previous concentrated outbreak of orders. "Don't push the Double 11 cycle so long, it may be more beneficial to merchants," said Hu Wei.
and Hu Wei also have the same feeling as new merchants participating in Double 11 in the second year. "This year, I feel that major platforms are under great pressure. The promotion cycle has been longer since 618, and the promotion frequency is getting higher and higher. By this year's Double 11, it is still a long-term and high-frequency promotion rhythm." Xiaomu, founder of Baodian's new brand "Yitou DOGE", told Nanduwan Finance and Economics reporters that if there are more innovative ways to play, or the frequency of daily activities is reduced, it will be more conducive to the long-term development of the brand and will have a better chance of breaking out on Double 11.
In response to this situation, many merchants told Nanduwan Finance and Economics reporters that in terms of marketing investment, the overall budget this year has been reduced and more attention is paid to actual results.Peng Xinyu pointed out, "In the past, the strategy of Double 11 was to 'work hard and get on the rise'. This year, the investment method of 'small steps and trial and error' was generally adopted, especially small and medium-sized merchants. In the past, they might invest 50,000 to 200,000 yuan, but now they will choose to invest 5,000 yuan first. If the effect is good, add it."
[Change Four]
Consumers lowered their expectations for parcel delivery the next day
this year 618. The outbreak of the epidemic across the country has caused the logistics and enterprise supply chains to be blocked. The 2022 "618 E-commerce Big Promotion Online Shopping Consumption New Trend Report" released by Nandu shows that the epidemic has caused delayed shipments and frequent out-of-stocks, and nearly 90% of respondents have encountered delayed delivery. Problems such as delayed delivery by merchants and excessive delivery time were once considered one of the reasons for the 618 fire.
During Double 11 this year, the epidemic has repeated again. On November 8, a fast-moving consumer goods merchant provided a list of suspensions to Nanduwan Finance and Social Security reporters. There are currently 12 cities in Henan Province that have suspended shipments in all regions. Some cities such as Foshan , Dongguan , Shenzhen, Jieyang , Meizhou , Shantou, Chaozhou , and other cities have suspended shipments to varying degrees. Although
faces the same problem, compared with 618, the attitudes and preparations of consumers and merchants are obviously more mature.
Recently, the "2022 Double Eleven Consumer New Trend Insight Report" released by Nandu showed that nearly 50% of respondents hope to receive the goods within 3 days of placing an order. Secondly, 26% of the respondents recognized that the goods were received within 4-5 days. Compared with the two-day delivery time that people most anticipated last year (that is, the next day delivery), under the influence of the epidemic, consumers have reduced their expectations for logistics timeliness and paid more attention to the stability and reliability of logistics.
Not only that, most merchants use more flexible and humane strategies when facing logistics problems. "Consumers can place orders normally. If the delivery address is not controlled, the merchant will ship the order within 48 hours; if the timeout is not issued, the consumer will be informed and the orders will be sent after the control is lifted. Another part of the goods with short shelf life will be suspended directly from the traffic control area." A fresh food merchant revealed to Nanduwan Finance and Television reporters that we currently suspend orders for users from logistics restricted areas such as Guangdong and Henan, but for users in the prevention and control area where has placed orders for , we will send them the goods they made after the control is lifted. "
In response to the uncertain factors brought about by the epidemic, Nanduwan Finance and Social Security reporters learned that the platform also provides real-time logistics information to merchants, and at the same time disclaims liability for complaints encountered by merchants due to express logistics reasons. "At the technical level, we connect the information of the epidemic area, merchant delivery place information, express logistics information and the overall data of our platform's order information. At the same time, when the merchant's collection situation changes, combine algorithms to predict areas and merchants affected by the epidemic, and give consumers the most real-time expression of expected logistics situations on the product details page. On the other hand, merchants are exempted from liability to improve the consumer experience and merchant experience under the influence of the epidemic. "Taobao Tmall CTO Ruohai said.
[Focus]
bid farewell to explosive growth. What do merchants look forward to most?
Although bid farewell to the purchasing atmosphere of "passionate ordering" in the early morning, Double 11 is still a time to stock up for ordinary consumers. Xiaoxi, an office worker from Shenzhen, told reporters from Nanduwan Finance that she spent about 1,500 yuan this year, mainly daily necessities, such as washing and care, skin care, clothes, shoes and bags, etc., and store discounts are superimposed The platform's full reduction is equivalent to a 60% discount.
Nanduwan Finance and Television reporter found that the transformation from impulsive consumption to urgently demand-based consumption is a major change in Double 11 this year. Consumers are more rational and cautious in shopping, tending to choose the best solution after multiple platforms to compare prices, and mainly purchasing and hoarding daily consumables. This is consistent with the data trend released by the National Bureau of Statistics. From January to September this year, the national online retail sales reached 958.84 billion yuan, a year-on-year increase of 4%. Among the online retail sales of physical goods, food, clothing and use goods increased by 15.6%, 4.7%, and 5.2%, respectively.The 2022 Double 11 report released by Bain, a consulting agency, also shows that consumers' shopping platform choices are becoming increasingly diversified. 69% of respondents plan to shop on 3 or more platforms during Double 11, compared with 56% last year. At the same time, 37% of respondents said they plan to go to 5 or more platforms to shop this year.
For new brands and small and medium-sized businesses, Double 11 is still a training ground for acquiring new customers, accumulating brand potential, and polishing supply chain capabilities. "Double 11 is an important node for e-commerce people. We can compare the data and review the sales of paper-breasted sauce and microwave wontons that are mainly promoted this year have basically met expectations." Xiaomu, founder of Yigou Shaomai, told Nanduwan Finance and Economics reporters that as a new brand that has been established for two years, the biggest change this year is that it has changed from an external factory to its own factory. "So this year, Double 11 is a big test for the production capacity of our new handmade factory, and it is also a test for Yuncang, because we have added Douyin self-broadcasting and some new retail and offline channels to the channels."
"Yigou Doge" own factory operates at full capacity to prepare for Double 11.
Nanduwan Finance News reporters noticed that this year Tmall and JD.com both emphasized the growth of small and medium-sized businesses. At 8 pm on October 31, four hours before the opening of Tmall Double 11, the overall transaction volume of nearly 20 industrial belts across the country achieved a year-on-year increase of more than 100%; JD.com Double 11 data showed that the transaction volume of nearly 50,000 small and medium-sized brands increased by more than 100% year-on-year, and the transaction volume of nearly 70,000 small and medium-sized merchants increased by more than 100% year-on-year.
"This year is the 12th time our company's e-commerce team has participated in Double 11 since its establishment. Our strategy is more about breaking the circle of products. Compared with the previous single headphone category products, we have added new categories such as sports watches and charging products this year." Wang Xiangxiang, brand leader of QCY, said that this year the team responded to Double 11 with a more calm attitude. "In addition to making sales, the significance of Double 11 is to improve brand awareness and create popular products. Our newly launched active noise-cancelling headphones QCY Melobuds ANC, the current sales of omni-channel has exceeded 150,000, and its sales during Double 11 are also excellent. Compared with the previous year, the brand has focused on increasing content marketing and driven traffic conversion within the site by word of mouth. Of course, sales target is still our primary goal. The goal of Double 11 this year is 10 million sales, and currently (the first round of sales ends) has reached nearly 40%. "
However, for the veteran player Inman , who has participated in Double 11 for 12 consecutive years, this year's keyword is high-quality growth, and the growth of gross profit margin is regarded as a core indicator. "Inman Double 11's performance increased by 59% year-on-year, and gross profit margin increased by 10% to a new high in Double 11 in 2012. High-quality growth is our pursuit." As soon as the first wave of sales in Double 11 ended, Inman founder Fang Jianhua couldn't wait to post a circle of friends to share this year's battle report.
"In the past, Double 11 was very terrifying, but now the team is already familiar with it, and even how many teams were sold was calculated. In the past, Double 11 was focused on inventory, logistics, and people. Now we mainly think about what we should do next year and the next three years. At the same time, we are paying more attention to user evaluations to see what we have inadequate; what users like and don't like." Qu Jing told reporters from Nandu, "Since 2010, Double 11 has gone from a big promotion carnival and concentrated performance explosion, and has begun to evolve into a barometer of consumption. Now it is a big test of brand strength. This year, we hope to achieve a Double 11 with healthier financial profits, instead of blindly pursuing sales data and using products of uneven quality to scatter prices."
In fact, the transformation from explosive growth driven by price war to steady growth under multi-platform layout is also the common pursuit of brand merchants to participate in Double 11. Double 11, which blindly expands production and stocks to offset sales, and even ends with increasing revenue but not increasing profits, has become a thing of the past. Merchants and consumers will eventually return to rationality and make careful choices.
Planning/Coordination: Zhen Qin Tian Aili
Editor: Nandu Wancai Society reporter Ma Ningning Intern Xiang Junhong
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