Chinese market! Double 11 battle report released, breaking many records

The fifteenth Double 11 has come to an end. After 15 years of development, the no longer young Double 11 has become less energetic and more calm. As Double 11 comes to an end, all major e-commerce platforms have announced eye-catching data. .

Star map data shows that from 20:00 on November 10 to 24:00 on November 11, 2023, the GMV of comprehensive e-commerce reached approximately 277.7 billion yuan, with a total of 1.02 billion packages generated, and the unit price per customer was 272.01 yuan.

Among them, Tmall channels accounted for the highest proportion at 60.02%, JD.com accounted for 27.86%, Pinduoduo accounted for 7.34%, and other channels accounted for 4.77%.

From November 1st to November 10th, the GMV of the live broadcast e-commerce platform was 215.067 billion yuan, and the GMV of the platform was ranked in order of Douyin, Kuaishou, and Diantao; the GMV of the new retail platform was 23.134 billion yuan.

The GMV ranking of the platform is Meituan Flash Sale, JD Daojia, Ele.me, Hema, and Taoxianda; the GMV of the community group buying platform is 10.65 billion yuan, and the GMV ranking of the platform is Duoduo Maicai, Meituan Selection, and Xingsheng Selection;

The comprehensive e-commerce platform’s overseas purchasing business sales reached 34.1 billion yuan.

Part 01: Taobao + Tmall

This year's Tmall Double 11 user base hit a historical peak, with the cumulative number of visitors exceeding 800 million; the price power effect is obvious, and users in third-tier and lower-tier markets placed 140 million more orders than last year.

In terms of brands and merchants, as of midnight on November 11, 402 brands had a turnover of over 100 million, 38,600 brands had a year-on-year growth rate of more than 100%, and more than 240 domestic brands had a turnover of over 100 million; among new brands, 13 had a turnover of over 100 million. , 243 brands exceeded 10 million, and 1,606 brands within 3 years of opening a store won the championship of trendy new categories; in addition, there were more than 2 million small and medium-sized merchants whose turnover increased by more than 100% year-on-year.

In terms of live broadcast, brands are experiencing explosive new dividends. 38 brand live broadcast rooms have sales exceeding 10 million, 451 store live broadcast rooms have sales exceeding 10 million, and for the first time within 4 hours of the pre-sale period, a brand live broadcast room has sales exceeding 100 million.

In terms of users, the number of active Taobao users on October 24, the day of the pre-sale, exceeded 500 million. With a large user base, Taobao APP also achieved a growth of 5%.

In the private sector, Tmall brand orders from members are growing faster, and Double 11 also achieved a 100% increase. In terms of repurchase by regular customers, categories such as apparel, fast-moving goods, sports and outdoor products, and food have increased by more than 45% year-on-year.

Part: 02 JD.com

So far, the cumulative number of viewers of JD.com’s purchasing and selling live broadcast has exceeded 320 million. At the same time, this year’s JD.com 11.11 has accumulated sales of about 300 brands exceeding 100 million yuan. The number of new merchants’ transactions increased more than five times compared with the same period last month, and a large number of brands and merchants still maintain rapid sales growth.

In addition, the number of products on JD.com's tens of billions of subsidy channels has doubled compared with 618, and the number of channel users has also increased nearly five times compared with June; in JD.com's 9.9 free shipping channel, the sales volume of a large number of good products from hundreds of industry zones has exceeded one million units. ; The transaction volume of JD.com’s Flash Sale channel increased nearly 10 times compared with September.

In terms of merchants, this year, the number of merchants participating in JD.com 11.11 broke a record again, increasing by more than 1.5 times compared with the same period last year. More industrial products are also hot-selling on JD.com on 11.11 this year. Among them, agricultural products from more than 2,000 agricultural specialty areas and industrial zones across the country are delivered to thousands of households.

In addition to live streaming of procurement and sales, JD.com launched more than 200 refined services and more than 80 industry-first and unique service guarantees on Double 11 this year, which were also welcomed by consumers.

Part 03: Pinduoduo

Pinduoduo’s successful Double 11 start report shows that the number of brands and products participating in this promotion have reached new highs, and more than 20 categories have doubled.

At present, the number of users of Pinduoduo’s tens of billions of subsidies has exceeded 620 million, the order volume of users in first-tier cities has increased by 113% year-on-year, and the order amount in fourth- and fifth-tier cities has increased by 167% year-on-year.

During the good start phase, sales of products such as seafood, mutton, fruits, sports, beauty, small household appliances, electric vehicles, learning machines, tea drinks, imported snacks, computer hardware, high-end musical instruments, etc. on the platform increased by more than 110% year-on-year;

The sales of furniture, home furnishings, new energy auto parts and other products increased by more than 320% year-on-year; the sales of pet brands increased by more than 600% year-on-year; and the sales of home textiles categories increased by more than 800% year-on-year.

Part 04: TikTok

During the Double 11 Goods Festival on Douyin Mall, the total exposure of official instant discount products reached 134.1 billion, which can be said to be good news frequently.

During this year’s Double 11 promotion, there were 468 single products with a daily GMV of over one million for pre-sale products with deposits. Among them, the overall paid GMV of products for pre-sale with deposits was 1.6 times that of the same period during last year’s Double 11.

At the product level, there are 147 super-category products with daily GMV exceeding one million. Among them, the three categories of trendy home furnishings, clothing, shoes and bags, and fresh food are the top three categories in terms of overall GMV. The top three categories with the largest number of users are: luxury life, fresh food, and clothing, shoes and bags.

The key product gameplay integrates the platform's billion-level traffic incentives and global position exposure and other resources to help merchants create hot products. During this Double 11 promotion, the average daily exposure of key products exceeded 900 million+, the cumulative GMV of 192 items exceeded 10 million, and the cumulative GMV of 1,227 items exceeded 1 million. The average daily payment GMV of products increased by 269% compared with the normal period.

During the big promotion period, the Value Shopping Channel uses global labels, platform subsidies, and superimposes official instant discounts and other rights to speed up the explosion of single products.

The total number of products under this channel was 532 million, with 902 single products exceeding one million in GMV. The payment GMV was 577% of that in the same period of last year’s Double 11.

Part 05: Kuaishou

Kuaishou e-commerce’s Double 11 Shopping Festival’s transaction GMV increased by 85% year-on-year, among which the GMV of the pan-shelf area increased by 160% year-on-year, and the overall GMV of the key product pool “Big Brands and Big Replenishment” increased by 300% year-on-year. The overall GMV of brand merchants increased by 300%, and the number of brands with a year-on-year growth of 100% exceeded 2,300.

Specific to categories, from October 31st to November 4th, Kuaishou e-commerce consumer electronics home industry GMV increased by 648% year-on-year, the number of buyers exceeded 1 million, and brand GMV increased by 741% year-on-year. Among them, the GMV of the mobile phone category increased by 1,200% year-on-year, and the mobile phone order volume exceeded the entire Double 11 cycle last year; the GMV of the major home appliance category increased by 909% year-on-year, with 11 merchants with GMV exceeding 10 million and 31 merchants with GMV exceeding 1 million;

Categories such as beauty equipment, household appliances, and electronic education all maintained high growth.

Kuaishou e-commerce furniture and home decoration GMV increased by 529% year-on-year. Among them, the GMV of the four major categories of the industry (beds/mattresses/sofas/tables) increased by more than 1,200% year-on-year in the two days before the official Double 11 period.

Beds increased by 7135% year-on-year, mattresses increased by 2948% year-on-year, sofas increased by 1859% year-on-year, and tables increased by 1269% year-on-year. There were 8 merchants with overall sales exceeding 10 million.

Kuaishou e-commerce women's clothing industry also ushered in a "good start", with GMV increasing by 70% year-on-year. GMV exceeded the annual peak in 2023 for two consecutive days.

The 100+ women's clothing anchors have exceeded the peak GMV for the whole year, and the cumulative GMV of the anchors in the first two days has increased by more than 500% year-on-year. At the same time, in the two days before the Double 11 promotion, the GMV of Kuaishou women's clothing brand increased by more than 300% year-on-year, the cumulative GMV of the down jacket category increased by 123% year-on-year, and the cumulative GMV of the woolen coat category increased by 151% year-on-year.

In addition to the above-mentioned platforms, Xiaohongshu, Bilibili, WeChat video accounts and other platforms also announced their battle reports from different dimensions during Double 11.

Among them, the number of merchants signed up by Xiaohongshu to participate in Double 11 increased by 3.7 times year-on-year, and the average number of daily purchasing users increased by 3.8 times year-on-year;

During Bilibili’s Double 11 grass planting and pre-sale period, GMV for goods delivery increased by 229% year-on-year, and GMV for live streaming goods increased by 259% year-on-year.

Overall, this year’s Double 11 is a brand-new promotion that “centers on cost-effectiveness, puts domestic products at the C-level, returns the rules to their original aspirations, and puts users first.” The gradually disappearing complex discount calculation logic, the gradual cancellation of the pre-sale phase, the beginning of weak sales promotion performance, and the reshuffled industry rankings are all important highlights of this year’s Double 11.

Whether merchants can win in the increasingly fierce competition will depend on users' satisfaction and recognition of products, services, and brands. Merchants' performance may no longer be contributed mainly by Double 11, but accumulated in the daily sales process.

At the same time, it can be seen from this year’s Double 11 that merchants will have less and less room for growth on mature platforms such as Tmall, JD.com, Douyin, and Kuaishou.

Turning to new platforms such as Xiaohongshu and Video Account to find new solutions will become a new e-commerce trend.