- Gordon Dumoulin
From public extravaganza to intimate comfort and self-satisfaction... China's "Double-11" in 2022
๐๐ณ๐ฐ๐ฎ ๐ฑ๐ถ๐ฃ๐ญ๐ช๐ค ๐ฆ๐น๐ต๐ณ๐ข๐ท๐ข๐จ๐ข๐ฏ๐ป๐ข ๐ข๐ฏ๐ฅ ๐ข๐ฑ๐ฑ๐ฆ๐ข๐ณ๐ข๐ฏ๐ค๐ฆ ๐ธ๐ช๐ต๐ฉ ๐จ๐ณ๐ข๐ฏ๐ฅ ๐ด๐ข๐ญ๐ฆ๐ด ๐ฏ๐ถ๐ฎ๐ฃ๐ฆ๐ณ ๐ค๐ณ๐ถ๐ฏ๐ค๐ฉ๐ช๐ฏ๐จ ๐จ๐ข๐ญ๐ข๐ด
๐ต๐ฐ โ๐ช๐ฏ๐ต๐ช๐ฎ๐ข๐ต๐ฆโ ๐ญ๐ช๐ท๐ฆ ๐ด๐ต๐ณ๐ฆ๐ข๐ฎ๐ช๐ฏ๐จ ๐ฆ-๐ค๐ฐ๐ฎ๐ฎ๐ฆ๐ณ๐ค๐ฆ ๐ด๐ฆ๐ด๐ด๐ช๐ฐ๐ฏ๐ด ๐ธ๐ช๐ต๐ฉ ๐ง๐ฐ๐ค๐ถ๐ด ๐ฐ๐ฏ ๐ค๐ฐ๐ฎ๐ง๐ฐ๐ณ๐ต, ๐ฆ๐น๐ฑ๐ฆ๐ณ๐ช๐ฆ๐ฏ๐ค๐ฆ ๐ข๐ฏ๐ฅ ๐ด๐ฆ๐ญ๐ง-๐ด๐ข๐ต๐ช๐ด๐ง๐ข๐ค๐ต๐ช๐ฐ๐ฏโฆ
๐ข ๐ต๐ถ๐ณ๐ฏ๐ช๐ฏ๐จ ๐ฑ๐ฐ๐ช๐ฏ๐ต ๐ช๐ฏ ๐ธ๐ฐ๐ณ๐ญ๐ฅโ๐ด ๐ญ๐ข๐ณ๐จ๐ฆ๐ด๐ต ๐ฆ-๐ค๐ฐ๐ฎ๐ฎ๐ฆ๐ณ๐ค๐ฆ ๐ด๐ข๐ญ๐ฆ๐ด ๐ง๐ฆ๐ด๐ต๐ช๐ท๐ข๐ญโฆ
While the more than 20% annual growth numbers since the first ๐ฑ๐ผ๐๐ฏ๐น๐ฒ-๐ญ๐ญ ๐ผ๐ป๐น๐ถ๐ป๐ฒ ๐๐ฎ๐น๐ฒ๐ ๐ณ๐ฒ๐๐๐ถ๐๐ฎ๐น in 2009 are over, according to research center Syntun, the total cumulative sales of e-commerce and live stream platforms were more than 1100 billion yuan (about USD 155 billion) this year up 17% from 2021.
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China's Singles' Day (ๅ ๆฃ่) or "Double 11" (ๅๅไธ) is world's largest e-commerce shopping festival in early November every year with the grand finale on November 11, China's singles day. The e-commerce festival was held first time in 2009 by Alibaba with only 27 merchants. Today, the event includes 100,000's of brands and 100's of millions of consumers (inside and outside of China) buying products.
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Remarkably, most of this year's growth has been accounted to a 145% sales growth by #livestreaming sales sessions while the โtraditionalโ #ecommerce platforms made an overall โmodestโ 3% growth with #TMall (Alibaba) ranking first, followed by #JD and #Pinduoduo (source Syntun). Exact sales numbers were not revealed in contrast with previous years.
The product category winners this year were comfort products such as kitchen and house appliances and toys; experience products as camping/outdoor gears and clothing; and โself-satisfactionโ products as jewelry, health foods and supplements, alcoholic beverages and pet foods. Categories at the tougher end during this yearโs double 11 were among others the beauty, telecom (smartphones), luxury brands and automotive sectors.
This shift in product categories, along with the slowing down and direction of the economy and the strong growth of live streaming in comparison with traditional e-commerce explain a change in consumer behaviours moving toward needs of more self-satisfaction, experience and comfort; slightly shifting from competitive-edged consumer behaviours in appearance and status.
๐ ๐ฏ๐ฆ๐ธ ๐ฆ๐ฑ๐ช๐ด๐ฐ๐ฅ๐ฆ ๐ธ๐ช๐ต๐ฉ ๐ฏ๐ฆ๐ธ ๐ฐ๐ฑ๐ฑ๐ฐ๐ณ๐ต๐ถ๐ฏ๐ช๐ต๐ช๐ฆ๐ด, ๐ค๐ฉ๐ข๐ฏ๐จ๐ฆ ๐ช๐ด ๐ต๐ฉ๐ฆ ๐ฐ๐ฏ๐ญ๐บ ๐ค๐ฐ๐ฏ๐ด๐ต๐ข๐ฏ๐ต ๐ช๐ฏ ๐๐ฉ๐ช๐ฏ๐ข ๐ข๐ฏ๐ฅ ๐ต๐ฉ๐ฆ ๐๐ฉ๐ช๐ฏ๐ฆ๐ด๐ฆ ๐ฎ๐ข๐ณ๐ฌ๐ฆ๐ตโฆ
#D11 #double11 #chinamarket #chinesemarket #chinaretail #chineseconsumers #newchina #china2022
Source video : Kuaishou ๅฟซๆ 2425870548
Header picture : Weibo