The curtain has fallen on the 2023 Double 11, and as anticipated, the fervor for shopping that has characterized previous years continued to surge this year. This year's Double 11 lacked the shopping lists flooding social media and the fervor of "9-to-5 workers" collectively staying up online until midnight.
Tmall stated that the 2023 Double 11 experienced comprehensive growth: "The user and merchant bases have significantly expanded, the scale advantage has further increased, driving a comprehensive increase in order volume and transaction total. Brands on Tmall gained the most crucial business outbreak of the year."
On the other hand, JD.com announced that its 2023 Double 11 set new records for transaction volume, order quantity, and user numbers.
After the official conclusion of Double 11, many brands promptly disclosed their transaction-related reports. Throughout Double 11, over 50 brands, including Haier, Honor, Xiaomi, etc., disclosed their GMV (or rankings).
Here, Rougelink invites you to explore this year's Double 11 merchant surveys and live stream analyses together!
Industry Glance：
Overall, merchants maintained a calm attitude towards the Double 11 promotion. Among major e-commerce platforms this year, beauty brands remained relatively stable, health supplements, home appliances, and the jewelry sector saw significant growth, while overall clothing sales declined. Most merchants reported that Douyin (TikTok) showed good growth. In the backdrop of e-commerce platforms emphasizing low prices this year, the appearance of low-cost products from certain industry-leading brands had a certain impact on brands needing to shape a mid-to-high-end product image.
It's worth noting that, among major platforms, domestic product sales were relatively good, but international brands are also adapting to the situation. In terms of offline formats, compared to the retail industry, the catering and service sectors performed well. The recovery in gold and jewelry, cosmetics, alcoholic beverages, and automobiles was faster, showing overall differentiation in pace.
• Which platform showed better growth? Which platform experienced a significant decline?
Many industries participating in this event generally reflect that the channels of a traditional e-commerce platform are not strong enough. In contrast, a certain emerging e-commerce platform is experiencing rapid growth. Despite this, many express that the competition for both platform and brand traffic has reached a fever pitch. Nevertheless, sellers on the emerging e-commerce platforms in most industries indicate that despite the intense competition, the returns obtained are considerable.
However, the environment may vary for different industries. For example, the performance in the home appliance industry is opposite to the overall trend. Rougelink believes that this may be related to early groundwork, capital accumulation, and many other objective factors.
• Are there any unusual trends in certain industries? Are there any dark horses in any industry this year?
This question may have different answers for various industries. Here are some mainstream perspectives from different sectors:
Fashion Industry: The clothing industry indicates that outdoor apparel has seen rapid growth this year, with Camel being considered the dark horse in the industry.
Energy Storage Industry: The energy storage industry states that there are no dark horses, and overall, top brands are performing better in sales.
Sleep and Home Furnishing Industry: Notably, the sleep and home furnishing industry mentions that a major influencer's live broadcast this year can bring a brand into the top ten in its category. Some brands even sell at prices lower than the product cost, and higher-priced items also experience high growth. Additionally, there are emerging players in the industry that have risen to prominence by utilizing this approach.
• What percentage of overall sales would Double 11 to account for this year?
Regarding this question, the majority of brands express that Double 11 no longer constitutes a significant portion of the overall sales. It is anticipated to account for approximately 15% to 20% of the total platform sales for the current year.
• What are any noticeable change in the consumer market?
Some brands indicate a discernible shift in consumer habits towards greater intelligence and practicality. There is a decreasing acceptance for ostentatious products, and through conversations with industry professionals, Rougelink has learned that there still exists a rigid demand for certain products. Additionally, the performance in certain industries in the current year has shown periodic growth compared to the previous year, particularly in 2022. We believe that the impacts and growth in certain areas will prompt brands to relearn and reinterpret market rules. This approach will serve as an excellent opportunity for brands that have recently entered or are in the process of entering the Chinese market to bridge any existing gaps.
• From this year's Double 11, what are the perceptives for next year?
Most brands maintain an optimistic outlook, expecting the situation to improve next year. They express the intention to learn from variables and proactively plan product layouts to meet diverse user needs. Additionally, brands plan to increase investments on platforms to reach a broader audience.
Furthermore, from a policy perspective, restoring consumer confidence is seen as crucial. As long as the overall environment is not worse than this year, brands are confident about the future and do not anticipate significant issues.
Live Streaming Achievements:
• Taobao Live:
Tmall's Double 11 Surprise Night started broadcasting at 19:30, setting up main stage live rooms, welfare live rooms, direct shooting live rooms, red carpet live rooms, and classic live rooms on the event page, featuring "Surprise Big Brands" and "Recommended for You" sections.
The Surprise Night invited dozens of well-known celebrities to perform, incorporating interactive segments such as "Tmall Double 11 8 PM Sale Ceremony," "Super Surprise Live Streaming Team Welfare Moment," and "Interactive Screen Sending Benefits." The "Super Surprise Live Streaming Team Welfare Moment" collaborated with Douyin's top live stream rooms, including Huke, TVB Shihuo, Dongfang Zhenxuan, Jindian, Lier Baobei, and Mifeng Surprise Society, achieving 513 hot searches across the entire internet by 00:20 on the 11th.
Notably, the red carpet slow live broadcast lasted for 5 hours with 33 guests in immersive interaction, and the total playback on both platforms exceeded 30.37 million.
• Douyin Live:
Douyin's gala focused on the theme "Shining Bright, Shining Night," with four categories of sponsors, totaling 25 brand sponsors, five times more than Tmall's gala. Among them, three are chief cooperation brands, seven are special cooperation brands, and six are designated cooperation brands. Additionally, nine brands are gala partners.
During the Double 11 promotion, there were 468 items with daily GMV exceeding one million yuan in the pre-sale category on Douyin, and the overall payment GMV of pre-sale items was 1.6 times that of the same period last year. The exposure of super category days reached 1.7 billion, and 147 items achieved GMV exceeding
• Li Jiaqi:
Li Jiaqi's momentum remains strong, with over 10 million views at 20:00 on the 11th. The live broadcast featured the sale of spot goods across all categories, offering 500 products. The main product categories in the live broadcast included beauty and skincare, makeup, and hair care. As of midnight, the live broadcast received nearly 5 million likes.
If you're interested in more about product globalization or any related information, feel free to contact Rougelink.
RougeLink offers e-commerce solutions, with integrated capabilities encompassing all aspects of the e-commerce value chain covering e-store operations, digital marketing, customer services, and logistics.
# e-commerce in China # China marketing strategy # Tiktok China # alibaba # china cross border e-commerce # traffic monetization china # douyin # Live shopping
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