Finance News|Xin consumer daily November 12 news (Researcher Liang Youyun), the main e-commerce platforms' promotion of november 11 shopping festival-related in 2024 officially ended.

It is worth noting that this year's november 11 shopping festival-related had a longer duration and more changes. The traditional tmall november 11 gala was canceled, along with the longstanding media live broadcast hall; on november 11, jd.com also changed its high-profile approach from previous years, transforming the 'cat and dog battle' into 'cat and dog cooperation.'

From the industry perspective, new platforms represented by Douyin, Kuaishou, and Xiaohongshu are gradually changing the e-commerce landscape. Due to the impact of live e-commerce, the attractiveness of major promotions to consumers is still declining; the increasing online traffic and operating costs are also putting significant pressure on businesses and brands. Even on this year's november 11 shopping festival-related, tmall candidly admitted in the media note that november 11 has become a day that people both love and hate, full of ridicule, complaints, and countless imperfections.

Undoubtedly, the emergence of november 11 shopping festival-related has led to the construction of a series of infrastructure such as digitalization, cloud computing, logistics, AI, which has driven the revolution of retail, csi consumer 360 index, and is still the 'best test field' for many businesses and platforms to adjust their operation strategies, re-examine their strategies, and remains an important stage for new brands and companies to achieve growth.

But as november 11 shopping festival-related transitions from 'little sweetness' to 'mrs. cow', tmall and jd.com will need to continue exploring new promotional models.

'Cat and dog battle' turns into 'cat and dog cooperation,' what's next for e-commerce platforms?

Taobao tmall, jd.com have been the main 'battlefields' of the annual november 11 shopping festival-related promotions, but this year the game between the two has turned to a certain extent into a 'cooperative' mode. Before november 11 shopping festival-related, Alibaba, jd.com, Tencent, Meituan successively announced the opening of multi-dimensional interconnection. This strategy indeed boosted the consumer activity for this year's november 11 shopping festival-related promotions.

Analyses from iiMedia Research data show that this year, the competition between different platforms involves both the 'confrontation' of preferential efforts and marketing strategies, as well as the new common theme of improving user experience and focusing on merchant services. At the same time, the sales cycles of platforms have lengthened and advanced, without dispersing the user activity in the mid-to-late period of the platforms. During this year's November 11 shopping festival-related period, the daily active users (DAU) of Taobao, JD.com, and PDD Holdings have all significantly increased.

JD.com's data shows that as of 11:59 on November 11th, the number of shopping users during the platform's major promotions has increased by over 20% year-on-year, and the orders from JD's livestreaming shopping have increased by 3.8 times year-on-year. The turnover of over 17,000 brands has grown over 5 times year-on-year, while the turnover of over 30,000 small and medium-sized merchants has more than doubled year-on-year.

This year, nationwide subsidies for trading in old electronics has significantly benefited JD.com. During the platform's major promotions, the turnover of 519 home appliance and home furnishing categories, including robotic vacuum cleaners and dryers, has increased by 200% year-on-year. The turnover of various AI hardware categories such as AI computers and AI smartphones has exceeded 100%. Additionally, the turnover of gaming CPUs, headphones, and sports cameras has increased by over 100% year-on-year.

Tmall's November 11 shopping festival 'battle report' also highlights the high activity of users and merchants in transactions. By midnight on November 11, the turnover of 589 brands on Tmall throughout the event has exceeded one billion, a 46.5% year-on-year increase compared to last year, breaking historical records. 45 brands including Apple, Haier, Midea, Xiaomi, Nike, Wuliangye Yibin, etc., have achieved turnover exceeding 1 billion, and fun brands like miHoYo, beauty brands like Tom Ford, and Kering have entered the 'billion-yuan club' for the November 11 turnover for the first time.

In terms of user scale, Taobao's 88VIP membership continues to expand steadily, with a continuous increase in purchasing willingness, providing strong momentum for brand growth. By midnight on November 11, the number of orders from 88VIP members has increased by over 50% year-on-year. According to the previous data disclosures, in the first half of this year, the scale of Taobao's 88VIP membership has exceeded 42 million.

Furthermore, the orders for Taobao's 'super billion subsidy' have exceeded 0.15 billion, with a 50% year-on-year increase in the number of orders. Under this campaign, over a hundred popular single products broke the billion-yuan mark.

Equally active are Taobao's livestreaming rooms. By midnight on November 11, the turnover from Taobao's livestreams has exceeded one billion, with 119 rooms surpassing this mark, reaching a historical high. Among them, 49 rooms with over one billion turnover have had a year-on-year growth rate of over 100%. This year's November 11 Taobao livestreaming has seen significant year-on-year growth in overall turnover and number of purchasing users.

Traditional anchors are returning, and the roles of MCN institutions have increased.

Looking at this year, november 11 shopping festival-related is no longer just about pdd holdings, tmall, jd.com, the role of top anchors and live e-commerce is becoming more and more prominent.

Looking back to the beginning of this year's november 11 shopping festival-related, the attention and discussion in Li Jiaqi's live broadcast room once again rebounded, and multiple beauty and skincare products in the pre-sale were sold out on the first day of the live broadcast. The gimmick of distributing 0.5 billion yuan in red envelopes at the beginning of the pre-sale in the live broadcast room also became a focal point of attention and discussion for many consumers.

And as the november 11 shopping festival-related comes to an end on November 11, Li Jiaqi's live broadcast room participated in nearly 1700 brands, with the number of brands increasing by nearly 20% compared to the previous year. The total number of product links exceeded 4000, covering almost all categories of mass consumer goods. Among them, domestic brand products accounted for over sixty percent.

Compared to Li Jiaqi's high-profile 'going out', East Buy and Dong Yuhui have shown a 'quietly cultivating' trend.

According to third-party data platform Chan Mama Data, during the double 11 shopping festival from October 18th to November 11th, the top 5 sales anchors were Guangdong Couple, Xinjiang Hetian Jade Laozheng, Jia Nailiang, Along with Hui, and Liu Yuanyuan.

Compared to other anchors leading their personal live broadcast rooms taking breaks during the long promotion period, Along with Hui maintained full-time broadcasting throughout the double 11 shopping festival. According to relevant personnel of Along with Hui's team responding to the media, they did not overly focus on the platform's promotional rhythm during the festival, but maintained a steady response.

According to the New Consumer Daily observations, Dong Yuhui maintains a high frequency of appearing 3-4 days a week and appears in several product category live streaming sessions. Looking at the daily live streaming data, During the festival, Along with Hui did not have instances of daily transaction volumes exceeding tens of millions of yuan, even when Dong Yuhui was present, the highest daily transaction volume often ranged from 50 million to 75 million yuan. The account's daily transaction volume is concentrated in the range of 10 million to 25 million yuan, steadily ranking among the top five in platform sales through continuous accumulation of transaction volume.

East Buy also maintained full-time coverage during the double 11 shopping festival, and Yu Minhong has conducted several special live streaming product sales events on the account. On November 4th, Yu Minhong joined hands with Dong Mingzhu in the East Buy live broadcast room. From visiting Gree's factory to sitting down for a conversation in the live broadcast room, during the double 11 period, national subsidies combined with corporate discounts brought a large amount of viewership and transaction volume for East Buy. On the day of the broadcast, East Buy's live broadcast room ranked in the top five in platform sales and briefly topped the Douyin hot selling list.

Therefore, November 4th was the biggest single-day sales volume during the promotion period of east buy. According to data from Chameleon MaMa, the total transaction volume of east buy on that day was 25 million~50 million yuan, while the daily average sales volume during the promotion period was 10 million~25 million yuan.

Significant daily traffic decline and lack of high-frequency hot topics during the promotion period caused the east buy account's ranking in Douyin's sales during the November 11 shopping festival-related to be only 19th, even lower than the 16th ranking of east buy's beautiful life matrix account. It is reported that this matrix account mainly focuses on higher-priced beauty and skincare products.

Also among the top 20 live streaming rooms for Douyin's sales this year is the 'Make Friends' live streaming room, ranked 14th in sales. Furthermore, 'Make Friends' is relatively rare, being an MCN institution that announced growth in transaction volume multiple times throughout the entire November 11 shopping festival-related period.

As of November 11th, 'Make Friends' total GMV across all channels exceeded 6.4 billion yuan, a year-on-year increase of 158%, with cumulative order volume surpassing 7.14 million orders, reaching a new high in annual promotions. Among them, the GMV of the flagship account's live streaming room on Douyin increased by 63% year on year, GMV of category-specific matrix live streaming rooms on Douyin increased by 60% year on year, and GMV of 'Make Friends' Taobao live streaming room increased by 73% year on year.

During this year's November 11 shopping festival-related period, 'Make Friends' also introduced many marketing topics. For example, on October 24th, 'Make Friends' joined the Taobao live streaming event for the 2nd anniversary and successfully sold tickets for the 2027 low-orbit travel spaceship seats for 'Space Travel Ship'.

Foshan Yowant Technology stated that this year, they no longer emphasize data orientation but have chosen 'making each IP better' as the theme. The company has extended the November 11 shopping festival-related period to expand the live streaming scale, with over 150 live streaming IPs completing a total of 1512 live streams, accumulating over 10,000 hours.

According to Foshan Yowant Technology, IP content innovation is the key to successful live streaming. During the November 11 shopping festival-related period, the company leveraged 'content driving sales' to achieve a total order volume of over 11.77 million orders in the live streaming rooms, with a total of over 0.195 million products listed. Domestic brands accounted for over 59% of GMV in the first half of the Foshan Yowant Technology's November 11 shopping festival period.

Evidently, with the deeper penetration of e-commerce, the 'low stock price storm' of PDD Holdings and the expansion of live streaming e-commerce, online shopping has transitioned from the habit of a small percentage of people to the daily routine of the vast majority.

When consumers can purchase cost-effective products online every day, the November 11 shopping festival-related seems to have completed its phase mission. However, for e-commerce enterprises aiming for high-quality growth, finding the next revolutionary model with the same significance as "November 11 shopping festival-related" has become the next challenge.