In the blink of an eye, Double Eleven has gone through 16 years.
counts the past 16 years. From the initial universal participation to the current "exhausted" state, consumers seem to have become "immune" to various routines and no longer want to perform complicated discount calculations. As a platform, the cancellation of the battle report and the suspension of the party made this year’s Double Eleven seem a bit deserted.
The Double Eleven party was once a symbol of carnival consumption. In 2015, the first Tmall Double Eleven Party was held. The full-day transaction volume of Tmall Double Eleven that year was 91.217 billion yuan. In 2016, it exceeded the 100 billion mark for the first time, reaching 120.7 billion yuan. In 2017 and 2018, it was 168.2 billion yuan and 213.5 billion yuan respectively. The rising transaction volume has witnessed the vigorous development of the e-commerce industry. Then, the Double Eleven Party went out of Alibaba and became the industry standard. In 2020, four Double Eleven galas were held simultaneously, which even surpassed the Spring Festival Galas of major TV stations.
However, this party "came to an abrupt end" this year. According to latepost reports, people within Taotian said: "We must spend money wisely to subsidize merchants and consumers." Other e-commerce platforms such as JD.com, Pinduoduo, Douyin, etc. also invariably reduced sales on Double Eleven this year. It has lowered its voice and no longer invites media reports and releases of transaction data.
In fact, consumers have long been accustomed to Double Eleven, and they are even more tired of the Double Eleven party. A survey from Bain Consulting shows that more than 75% of Chinese consumers are still excited about Double Eleven in 2021, but two years later this proportion is only 53%. During the same period, those who are willing to increase their spending on Double Eleven The proportion of respondents dropped from 51% to 23%.
What attracts consumers most during Double Eleven is undoubtedly the discount. In the past two years, major e-commerce platforms have used strategies such as "lowest price on the entire network" to attract consumers, which is no surprise to everyone. In addition, "routines" such as complex discount rules and price reductions after purchase have also greatly affected people's purchasing experience. This year's Double Eleven, some netizens even made a special calculation formula in order to use each coupon accurately, which is so complicated that it makes people laugh. Whether
is a "discount" or a "routine" depends on the platform's determination to "give profits". It is understood that this year’s Double Eleven, Tmall will provide 30 billion yuan in consumer coupons and red envelopes, 3 billion yuan in merchant support subsidies and other preferential measures. JD.com has upgraded its "Chunxiao Plan" to increase support for third-party merchants from three dimensions: traffic support, AI technology efficiency improvement, and ultra-light asset operations. Pinduoduo has launched the “Ten Billions Reduction and Exemption” and the “New Quality Merchant Support Plan”. Douyin has lowered its service rates to reduce merchant operating costs.
However, many consumers still complain that Double Eleven orders are more expensive than usual. Moreover, the event price tags of some products are often inconsistent with the final payment price.. It is not difficult to understand. At present, the competition between e-commerce platforms is extremely fierce. The battle between two heroes in the past has turned into a melee. With the rise of newcomers and the persistence of veterans, everyone can only be more cautious in marketing investment.
In addition to consumers, merchants are also complaining about the worsening experience. "Although operating costs have increased, the incremental effect is not obvious." On November 13, the relevant person in charge of the brand department of Shandong Xindi Home Decoration Co., Ltd. revealed to reporters, "In today's fiercely competitive e-commerce environment, innovative planning of theme activities has become a necessary skill, and the continued increase in traffic costs requires merchants to plan their promotion budgets more carefully to ensure that every investment can be accurately converted into brand influence and performance growth. This year's Double Eleven, we have adopted 'online integration'. Home customization + Offline store experience' approach has promoted the effective conversion of traffic, and sales have increased significantly. "
Many people think that the cost of opening an online store is lower than that of an offline physical store. In fact, in actual operations, personnel costs, operation and maintenance expenses, and warehousing are all involved. Logistics fees, especially the increasingly expensive traffic diversion fees, make the total cost of merchants even exceed that of physical stores, which brings huge pressure.
The excessively stretched front line also poses a test to the service capabilities and operating costs of merchants. This year’s Double Eleven lasted for about a month and was called “the longest in history.”Under the trend of live streaming, faced with huge labor costs, a method of bringing goods called "digital live broadcast" is becoming a new choice for many people. It can help merchants continue to sell goods 24 hours a day during the big promotion period. Sale.
During this year’s Double Eleven, the government’s trade-in subsidy and the Double Eleven promotion of e-commerce platforms realized the overlay of discounts for the first time, and the major platforms all added new “Government Subsidy” activity pages. Tmall said that this year, for the first time, government subsidies will be combined with full discounts on Tmall’s Double 11, fully activating consumption of home appliances, home furnishings, and home decoration. As of midnight on November 11, the transaction volume of 139 brands including Haier, Midea, Zhuimi and Dyson exceeded 100 million yuan; the transaction volume of more than 9,600 brands including Toshiba and Atour Planet doubled.
Another commendable point is that this year, "Hospitality Shandong and Haopin Shandong" joined Double Eleven for the first time and held a series of live broadcast exhibitions and sales activities. Among them, the "Honest Shandong People and Authentic Shandong Products" e-commerce live broadcast competition has nearly 400 e-commerce live broadcast teams, and special events are launched in time on Douyin, Kuaishou, JD.com, Tmall, Taobao, Xiaohongshu and other platforms. Taobao, JD.com E-commerce platforms such as Kuaishou, Meituan, Ginza and RT-Mart have also launched the "Haopin Shandong Haoke Shandong" online zone, with a total of more than 2,800 products on the shelves. It is reported that from November 12 to the end of this year, each platform plans to issue 7,000 coupons of various types.
Double Eleven is not only an important window for observing the consumer market, but also an important node for observing changes in consumer trends. Generally speaking, from this year's perspective, digital technology empowerment will further promote the development of e-commerce and enhance consumer experience. In addition, with the superposition of multiple favorable policies and the deep penetration of merchants in the market, there will be more market space in the future. expect.
In the blink of an eye, Double Eleven has gone through 16 years.
counts the past 16 years. From the initial universal participation to the current "exhausted" state, consumers seem to have become "immune" to various routines and no longer want to perform complicated discount calculations. As a platform, the cancellation of the battle report and the suspension of the party made this year’s Double Eleven seem a bit deserted.
The Double Eleven party was once a symbol of carnival consumption. In 2015, the first Tmall Double Eleven Party was held. The full-day transaction volume of Tmall Double Eleven that year was 91.217 billion yuan. In 2016, it exceeded the 100 billion mark for the first time, reaching 120.7 billion yuan. In 2017 and 2018, it was 168.2 billion yuan and 213.5 billion yuan respectively. The rising transaction volume has witnessed the vigorous development of the e-commerce industry. Then, the Double Eleven Party went out of Alibaba and became the industry standard. In 2020, four Double Eleven galas were held simultaneously, which even surpassed the Spring Festival Galas of major TV stations.
However, this party "came to an abrupt end" this year. According to latepost reports, people within Taotian said: "We must spend money wisely to subsidize merchants and consumers." Other e-commerce platforms such as JD.com, Pinduoduo, Douyin, etc. also invariably reduced sales on Double Eleven this year. It has lowered its voice and no longer invites media reports and releases of transaction data.
In fact, consumers have long been accustomed to Double Eleven, and they are even more tired of the Double Eleven party. A survey from Bain Consulting shows that more than 75% of Chinese consumers are still excited about Double Eleven in 2021, but two years later this proportion is only 53%. During the same period, those who are willing to increase their spending on Double Eleven The proportion of respondents dropped from 51% to 23%.
What attracts consumers most during Double Eleven is undoubtedly the discount. In the past two years, major e-commerce platforms have used strategies such as "lowest price on the entire network" to attract consumers, which is no surprise to everyone. In addition, "routines" such as complex discount rules and price reductions after purchase have also greatly affected people's purchasing experience. This year's Double Eleven, some netizens even made a special calculation formula in order to use each coupon accurately, which is so complicated that it makes people laugh. Whether
is a "discount" or a "routine" depends on the platform's determination to "give profits". It is understood that this year’s Double Eleven, Tmall will provide 30 billion yuan in consumer coupons and red envelopes, 3 billion yuan in merchant support subsidies and other preferential measures. JD.com has upgraded its "Chunxiao Plan" to increase support for third-party merchants from three dimensions: traffic support, AI technology efficiency improvement, and ultra-light asset operations. Pinduoduo has launched the “Ten Billions Reduction and Exemption” and the “New Quality Merchant Support Plan”. Douyin has lowered its service rates to reduce merchant operating costs.
However, many consumers still complain that Double Eleven orders are more expensive than usual. Moreover, the event price tags of some products are often inconsistent with the final payment price.. It is not difficult to understand. At present, the competition between e-commerce platforms is extremely fierce. The battle between two heroes in the past has turned into a melee. With the rise of newcomers and the persistence of veterans, everyone can only be more cautious in marketing investment.
In addition to consumers, merchants are also complaining about the worsening experience. "Although operating costs have increased, the incremental effect is not obvious." On November 13, the relevant person in charge of the brand department of Shandong Xindi Home Decoration Co., Ltd. revealed to reporters, "In today's fiercely competitive e-commerce environment, innovative planning of theme activities has become a necessary skill, and the continued increase in traffic costs requires merchants to plan their promotion budgets more carefully to ensure that every investment can be accurately converted into brand influence and performance growth. This year's Double Eleven, we have adopted 'online integration'. Home customization + Offline store experience' approach has promoted the effective conversion of traffic, and sales have increased significantly. "
Many people think that the cost of opening an online store is lower than that of an offline physical store. In fact, in actual operations, personnel costs, operation and maintenance expenses, and warehousing are all involved. Logistics fees, especially the increasingly expensive traffic diversion fees, make the total cost of merchants even exceed that of physical stores, which brings huge pressure.
The excessively stretched front line also poses a test to the service capabilities and operating costs of merchants. This year’s Double Eleven lasted for about a month and was called “the longest in history.”Under the trend of live streaming, faced with huge labor costs, a method of bringing goods called "digital live broadcast" is becoming a new choice for many people. It can help merchants continue to sell goods 24 hours a day during the big promotion period. Sale.
During this year’s Double Eleven, the government’s trade-in subsidy and the Double Eleven promotion of e-commerce platforms realized the overlay of discounts for the first time, and the major platforms all added new “Government Subsidy” activity pages. Tmall said that this year, for the first time, government subsidies will be combined with full discounts on Tmall’s Double 11, fully activating consumption of home appliances, home furnishings, and home decoration. As of midnight on November 11, the transaction volume of 139 brands including Haier, Midea, Zhuimi and Dyson exceeded 100 million yuan; the transaction volume of more than 9,600 brands including Toshiba and Atour Planet doubled.
Another commendable point is that this year, "Hospitality Shandong and Haopin Shandong" joined Double Eleven for the first time and held a series of live broadcast exhibitions and sales activities. Among them, the "Honest Shandong People and Authentic Shandong Products" e-commerce live broadcast competition has nearly 400 e-commerce live broadcast teams, and special events are launched in time on Douyin, Kuaishou, JD.com, Tmall, Taobao, Xiaohongshu and other platforms. Taobao, JD.com E-commerce platforms such as Kuaishou, Meituan, Ginza and RT-Mart have also launched the "Haopin Shandong Haoke Shandong" online zone, with a total of more than 2,800 products on the shelves. It is reported that from November 12 to the end of this year, each platform plans to issue 7,000 coupons of various types.
Double Eleven is not only an important window for observing the consumer market, but also an important node for observing changes in consumer trends. Generally speaking, from this year's perspective, digital technology empowerment will further promote the development of e-commerce and enhance consumer experience. In addition, with the superposition of multiple favorable policies and the deep penetration of merchants in the market, there will be more market space in the future. expect.(Popular News Reporter Wang Heying)
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