The historically longest november 11 shopping festival-related celebration for nearly a month has come to an end. This year, november 11 saw a surge in sales of electronics and housewares, driven by government subsidies, with platforms showing a trend of not inflating prices but focusing on cost-performance ratio. After some top anchors faltered, quality live streaming is on the rise.

Both major e-commerce platforms alibaba and jd.com's singles' day sales reports for this year were relatively concise. Tmall announced that at 24:00 on November 11, 2024, the total transaction volume of Tmall's singles' day this year showed strong growth, reaching a record high number of purchasing users. Throughout the entire singles' day period on Tmall, 589 brands achieved sales exceeding one billion, a 46.5% year-on-year increase from last year, setting a new historical record.

Considering the announcement made during the live broadcast of Tmall november 11 flash sale on October 31 at 8 pm, a total of 373 brands have achieved billion-yuan transactions since the start of this year's singles' day event. It can be estimated that within 11 days, the number of brands with transactions exceeding 0.1 billion yuan has grown by approximately 58%.

JD.com announced that as of 23:59 on november 11, 2024, the number of users for november 11 shopping festival-related on JD.com has increased by over 20% year-on-year, with the sales volume from live broadcast orders on JD.com increasing by 3.8 times year-on-year. The transaction volume of over 0.017 million brands has more than quintupled year-on-year, and the transaction volume of over 0.03 million small and medium-sized merchants has doubled year-on-year.

The singles' day sales were held 10 days ahead of schedule overall, with platforms focusing on not inflating prices but on services and cost-performance ratio.

This year's singles' day span was the longest in history. Compared to last year, Taobao Tmall platform started 10 days early, JD.com started 9 days early, Douyin started 7 days early, and PDD Holdings started 6 days early. Overall, this year's singles' day started on October 14, 10 days earlier than last year. Platforms like JD.com, Douyin, and PDD Holdings have promotions lasting over 30 days.

For some consumers who feel that the November 11 shopping festival-related has become 'weaker,' Xinhua Daily quoted industry insiders as saying that this is somewhat related to the time being spread out. However, for consumers, the longer discount period actually gives the initiative back to consumers, eliminating the need to reach a certain amount for discounts, obviously providing a better experience.

Xinhua Daily mentioned another change in this year's singles' day sales: almost all platforms do not heavily promote discounted prices and services, and this year, they hardly mention 'lowest price across the entire network.'

The theme of JD.com's singles' day sales launch event was focused on 'both cheap and good quality' and 'not wanting the industry to over-rotate.' Alibaba's group vice president Wu Jia stated that this year's singles' day sales aims to allow businesses with quality and guaranteed services to stabilize their prices through a series of methods, ensuring that brands and businesses have stronger pricing autonomy.

pdd holdings upgraded the merchants' service fee refund exemption rights, reducing the technical service fees of 'pay after delivery' orders by 40% on the eve of the singles' day sales.

There are comments stating that this year, many e-commerce platforms are no longer vigorously pursuing the lowest prices across the entire network, but are paying more attention to the trend of cost-effectiveness and high-quality products, such as Tmall's combination of good quality and price and JD.com's both cheap and good quality.

With state support, home appliances consumption takes the 'C-position,' followed closely by mobile phones and digital products as well as outfits.

Compared with previous years, this year's singles' day sales came earlier, with major platforms offering greater subsidies and state support for trade-ins, igniting consumer enthusiasm. Major e-commerce platforms have all seen varying degrees of growth in transaction volume, with household appliances consumption taking the 'C-position.'

According to data from Xingtu, as of October 30th, this year's singles' day sales accumulated a total sales volume of 845 billion yuan, with their report stating: 'This number not only refreshes the historical sales records for October but also highlights the continued enthusiasm and high participation of consumers in the singles' day shopping festival.'

Tmall platform has added more than 90 stackable discounts for small appliances and smart home categories through the old-for-new subsidy scheme, driving significant growth in related categories.

Data from the first stage of Tmall's November 11 shopping festival from October 21 to October 24 shows that the transaction growth rate of over 0.012 million brands exceeded 100%, with nearly 6000 brands experiencing growth rates surpassing 500%. Among various categories, home appliances topped the list with a sales volume of 132.4 billion yuan, accounting for 15.7% market share. This was followed by mobile phones and digital products, as well as outfits category, with sales volumes of 120.1 billion yuan and 118.4 billion yuan, respectively, occupying 14.2% and 14.0% market shares.

JD.com stated that during singles' day sales, over 90% of rural areas nationwide had consumers participating in the old-for-new program through JD.com. Large-screen televisions became the preferred choice for trade-ins, with 519 home appliance and houseware categories, including robotic vacuum cleaners and dryers, experiencing a 200% year-on-year growth in transaction volume. The transaction volume for multiple AI hardware categories such as AI computers and AI phones exceeded 100%. Supermarket blind boxes were chosen by consumers as the highlight of this year's JD.com singles' day sales, with the overall transaction volume of supermarket combo packages increasing by over 50% year-on-year.

Tmall's november 11 shopping festival-related fashion brands continue to experience explosive transactions, by the deadline of November 11 at midnight, 7062 fashion brands doubled their transactions year-on-year, with 66 brands surpassing a billion, showing strong growth.

Tmall data shows that as of midnight on November 11th, 34 3C digital brands including Apple, Xiaomi, Huawei, OPPO, Sony, Fujifilm, DJI, Nintendo, LeapFrog, and Tucano achieved transactions exceeding 100 million yuan during the singles' day sales. Over 1100 brands including vivo, iQOO, Mechanical Revolution, and Yingshi experienced a doubling in transaction volume year-on-year. Among them, vivo's mobile phone transactions increased by 190% compared to last year's singles' day, and DJI's brand transactions grew by over 100% year-on-year.

Xiaomi announced that as of 11:59:59 on November 11th, the total payment amount across all channels for Xiaomi's singles' day sales exceeded 31.9 billion yuan, setting a new record for Xiaomi's annual major promotion.

Taobao's live streaming rooms with transactions exceeding 100 million yuan set a new record, with quality live streaming becoming a new trend.

According to Wall Street News, by midnight on November 11th, the number of Taobao live streaming rooms with transactions exceeding 100 million yuan reached over 100, setting a new historical high. Among them, 32 live streaming rooms with transactions surpassing 100 million yuan experienced growth rates of over 100% year-on-year. In addition, this year's Taobao live streaming during singles' day saw a significant increase in overall transaction volume and number of purchasing users compared to last year.

Taobao Live demonstrates that this November 11 shopping festival-related, consumers and brands have fully transitioned to quality live streaming rooms. Professional anchors are performing strongly, with many KOLs achieving over a billion in sales for the first time during November 11 sales; Official brand offerings have shown a significant surge, with CRD Kareemi Tmall flagship store, Vivo official flagship store, and other official flagship stores experiencing several-fold year-on-year growth.

Data from Douyin also reflects the new trend of brand live streaming. Third-party data shows that from October 18 to November 10 in the afternoon, this year's Douyin November 11 sales event has influencer rankings (the top five being Xinjiang Hetian Jade Lao Zheng, Walking with Hui, Guangdong couple, Jia Nailiang, Little North Jewelry). The sales of the top four have all exceeded 0.7 billion yuan, establishing a significant lead. Making friends and East Buy's cumulative sales did not make the top ten on Douyin's list before.

According to Blue Whale News, one of the biggest changes in this year's November 11 on Douyin may be the absence of some superhead anchors, like the Crazy Xiao Yangge due to events such as the Meicheng Mooncake incident. Industry analysts point out that with consumers becoming increasingly rational, both the influence of channels and anchors are exponentially shrinking. The enthusiasm of merchants to pay for top anchors has correspondingly waned. At the same time, many domestic products have successfully shifted from collaboration to self-broadcasting, with self-broadcasting accounting for close to 70 percent. Therefore, the decline in rankings of live streaming rooms like Making friends and East Buy is considered normal.

Economic Observer reports cite industry insiders' analysis that this year's singles' day sales marks a clear watershed moment. In comparison to the influencer-driven live streaming sales model, the quality live streaming model coordinated by professional anchors and official brand offerings is poised to become the industry norm.