At midnight on November 12, the annual Tmall “Double 11” shopping festival comes to an end. Different from previous years, Tmall, JD.com and other leading e-commerce companies did not announce the transaction volume data of this year’s “Double 11”. They only stated that the transaction scale “stabilized” and was the same as last year.
However, judging from the data related to clothing and apparel categories released by major e-commerce platforms, this year’s “Double 11” Shopping Festival also showed some changes in the word “stable” that are different from the past: sales growth in multiple sub-categories Rapidly, merchants are paying more attention to consumers’ shopping needs and shopping experience; in addition, new business formats such as live streaming, which have been booming in recent years, have also abandoned the past “horse racing” style of disorderly expansion and returned to the essence of commercial retail.
E-commerce no longer focuses on turnover
Since Taobao Mall launched the “Double 11” shopping carnival known as the “Singles’ Day Carnival” more than 10 years ago, November 11th every year has become an annual drama where e-commerce platforms, brands and consumers interact and dance together, and consumption Consumers are happy to “buy”, brands and platforms are also busy, and the transaction volume of “Double 11” has reached new highs repeatedly.
However, this year’s “Double 11” event is no longer focused on transaction volume.
Tmall did not release transaction data in the final “battle report” released in the early morning of November 12. It only stated that this year’s “Double 11” is the most diverse event for participating merchants, with 290,000 brands and millions of participating merchants. Small businesses and anchors participated, and more than 21 million kinds of products participated in “Double 11”.
If you review the “battle situation” of this year’s “Double 11”, it is not difficult to find that the consumption peak of this year’s “Double 11” shopping festival is not completely concentrated on November 11, but there is a peak from November 1 Little climax.
“This year’s ‘Double 11’, the ‘Double 11’ pre-sales for major platforms and some brands started in mid-October.” Ms. Geng, who works for a headhunting company, told a reporter from China Textile News, “Although there is no I have attended the ‘Double 11’ parties on major platforms, but the various promotional messages received on my mobile phone have not stopped since the beginning of October.”
“This year’s ‘Double 11’ has two waves of sales peaks, one is from November 1 to 3, and the other is a few days after the 11th, which can be seen from the concentration of the number of our logistics orders. “The SF Express man responsible for logistics and distribution in Shuangjing area of Beijing told reporters, “Orders in previous years were mostly concentrated in the days before and after Double 11.”
In fact, this year’s “Double 11” is still more than a month away, and major e-commerce platforms such as JD.com and Tmall, as well as live broadcast platforms, have begun to “warm up.” In addition to the “kaleidoscope” promotions that are constantly being updated in online channels, , discounts, and free gifts. City supermarkets, shopping malls, and even community stores have begun to display various promotional signs. Even bus stop signs in some big cities are full of JD.com and Tmall. large promotional poster.
This year’s “Double 11”, JD.com and Tmall launched the first round of pre-sales and cross-store discounts at 20:00 on October 20 and 20:00 on October 24 respectively.
Statistics from Tmall show that starting from the pre-sale on Tmall on the evening of October 24, 130 live broadcast rooms with pre-sale amounts exceeding 10 million yuan were generated in just 4 hours. As one of the main consumer categories of “Double 11”, the performance of clothing and accessories during the “Double 11” period has always attracted much attention.
Statistics show that Bosideng’s sales exceeded 100 million yuan in just 40 minutes after pre-sales started on Tmall. The men’s clothing category has become a “dark horse”. Among them, GAP (Gap) men’s clothing sales increased by more than 200% in the first hour of pre-sale compared to last year. Some new products of the “YEEZY GAP Balenciaga” collaboration were launched on Tmall in just one day. Sold out within hours.
The pre-sales have been fruitful, allowing many brands to get enough of the “Double 11” “addiction”.
However, it is worth noting that consumption channels are becoming increasingly diversified, and the rise of social e-commerce, interest e-commerce, live broadcast e-commerce, etc. has dispersed sales that were originally concentrated on traditional e-commerce platforms such as Taobao, Tmall, and JD.com.
According to Qu Jing, vice president of Huimei Fashion Group Co., Ltd. (hereinafter referred to as “Huimei Group”), in the initial “Double 11”, only Taobao and Tmall platforms were the dominant platform. Nowadays, JD.com, Vipshop, Douyin, etc. The addition of multiple platforms not only makes participation methods more diversified, but also gives rise to some new marketing models such as private domain, anchor, and store broadcast.
“Consumers are still those consumers, but there are more purchasing methods and channels to choose from. Therefore, the sales of a single specific channel will decrease.” Li Shengchao, brand manager of Minan Cashmere Clothing Co., Ltd. in Qinghe, Hebei Province, told The reporter said, “In addition, consumers value product design, personalization and quality more than price.”
In addition, through the release of “Double 11” sales data, we can also find that today’s “Double 11” is gradually bidding farewell to the “turnover-only theory” that was valued in the past, and this also marks that the clothing consumer market has shifted from a quantity-based one. Quality-oriented development stage, as well as the increasing diversification of clothing consumption methods and channels.
Clothing brands regain their original aspirations
In the reporter’s WeChat Moments, the first person to post this year’s “Double 11” report card was Fang Jianhua, chairman of Huimei Group and founder of Inman Brand.
This yearBusinessmen’s ‘routines’. ”
“What you buy is not as good as what you sell. What consumers look forward to most is ‘simplicity + inclusiveness’.” This is the resonance of many “hand-buying people”.
“If you want to get the most discounts, you have to stack different discounts, red envelopes and coupons according to different categories. I feel like I am being forced to become a ‘mathematician.'” Xiao Zhang, a loan officer who works in a bank, joked Di told reporters, “On Tmall and JD.com, the screens are full of various discounts such as ‘50 off when you spend 300, 50 off when you spend 299,’ etc. There are also task red envelopes, password red envelopes, and various combination orders and refunds. There are coupons, and some discounts can be used across stores, while others cannot, which makes people confused. Even I, who works in credit, sometimes can’t figure out which discount should be used to save more money.”
“I have read various money-saving strategies through various channels before, but when I finally checked out, I was still confused.” The wife of loan officer Xiao Zhang also felt the same way, “It is also clothing with a total price of more than 5,000 yuan. For similar products, I spent more than 200 yuan more than my colleagues when I checked out, and I really couldn’t understand the settlement rules on the platform.”
“It would be great if the e-commerce platform could automatically accumulate discounts according to established procedures during settlement, so that consumers can automatically maximize their benefits.” Xiao Zhang said, “This would eliminate the need to hold a calculator when shopping. It’s math.”
Compared with online e-commerce’s “disorderly spending that is becoming more and more eye-catching”, offline physical stores’ “Double 11” promotions appear to be much more pragmatic, so many consumers prefer offline shopping channels.
“For products such as clothing, shoes and hats, I prefer to buy them in supermarkets. The prices and discounts in supermarkets are very straightforward. I don’t have to figure out coupons, full discounts, etc., and I can buy with my neighbors on e-commerce platforms. “Compared with the same style of clothing, there is not much difference in price.” Mr. Jiang, a citizen who lives in Xicheng District, Beijing, told reporters, “For clothing products, I still like ‘what you see is what you get’, so I can choose the right one in the store.” If you try on a piece of clothing and it suits you, you buy it. Although e-commerce can also provide free returns and exchanges, it is not as convenient as in-store. Especially middle-aged and elderly consumers are still more accustomed to offline shopping.”
“For consumers, e-commerce platforms need to focus on how to improve consumers’ purchasing experience, and meet consumer needs in various aspects through different means and services, so that consumers can buy with confidence, happiness and satisfaction.” Senior Digital Economy Think Tank Researcher Weng Yi said.
Ouyang Rihui, deputy director of the China Internet Economic Research Institute at the Central University of Finance and Economics, also believes that from a consumer perspective, consumers’ consumption concepts will become more rational during this year’s “Double 11”. Therefore, whether for online e-commerce platforms or offline stores, today’s “Double 11” shopping festival is not only an “eyeball-earning” marketing activity, but also an effective means for clothing brands to build core competitiveness.
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