The 2023 Double Eleven has come to an end. Several major e-commerce platforms have not released overall sales data. Market participants’ desire to evaluate China’s consumption from Double Eleven data may be in vain. The senior editorial team of China Business NewsResearchGot itLiquormobile phones, cosmetics, clothing, catering, grain and oil, fresh food, aviation, e-commerce platforms, and home appliances, ten major industries, interviews with leading companies, and obtained a large number of first-hand Double Eleven sales situations, readers can have a glimpse of the prospects of Chinese consumption Find out more about the trends.
low priceLiquorUnable to sell, 100-yuan wine is selling like hot cakes
Domestic alcohol consumption is overall weak this year. Whether the alcohol sales are good or bad during Double Eleven has attracted the attention of industry insiders.
JingdongThe data shows that from 20:00 on October 23 to 24:00 on November 11,JingdongThe turnover of the wine industry increased by 32% year-on-year, and the number of users increased by 45% year-on-year.LiquorTransaction volume increased by 36%. Tmall released some data on the beverage industry as of November 10th during Double 11. Live broadcast transactions exceeded 1.8 billion yuan, with transactions increasing by 628% year-on-year.
Data released by Sichuan Yijiu Yijiu E-Commerce Co., Ltd. (hereinafter referred to as 1919) shows that the total transaction volume of its Tmall official platform on Double Eleven was 1.28 billion yuan, compared with 380 million yuan in the same period in 2022; the transaction volume of Douyin platform was 490 million yuan. , which was 290 million yuan in the same period last year.
A big V, a wine anchor on the Taobao platform, told China Business News that the overall Double Eleven data this year has increased significantly. Because the Tmall platform provides traffic and financial subsidies to top anchors, Double Eleven sales are better than expected.
There is one phenomenon that is different. A sales person in charge of a national wine merchant told China Business News that low-priced products that were originally popular for online shopping, such as low-end liquors such as 9.9 yuan and 29.9 yuan, cannot be sold anymore.In the high-priced wine section, famous winesWuliangyeMaotai and other sales are less affected, but small and medium-sized liquor brands and high-end products developed by dealers suffer from insufficient brand power. E-commerce sales are “unable to push”, while the price range of popular products is stable at 100 yuan to 100 yuan. About 300 yuan.
The above-mentioned wine merchants believe that the feedback from e-commerce is close to the overall market situation this year. Since the market’s alcohol consumption is lower than expected, the industry adjustment trend is relatively obvious, but mass consumer products still have certain support.
Since the beginning of this year, the domestic liquor industry and liquor market have entered a new round of adjustment. Different from the previous round of adjustment, this round of liquor adjustment is the result of a large number of changes accumulated in consumption, production, circulation and other aspects during the rapid growth of the industry in recent years. A concentrated display of problems and contradictions.
In this regard, Song Shuyu, chairman of the China Liquor Industry Association, analyzed during the Shanghai Liquor Expo that this round of Chinese liquor, driven by brands, channels, investment institutions and other parties, has gone through the stage of unilateral price increases, which is overestimated. The increase in the actual consumption capacity of the market.
Gan Quan, deputy secretary-general of the China Liquor Association, believes that the liquor industry will generally show a trend of slow and rational growth in 2023. The mid-range product market with a price of around 100-300 yuan is the focus of brand companies. At present, it looks like Already the first to get out of the trough.
The reporter noticed that during this year’s Double Eleven, the differentiation between high-end famous liquor and mass products is becoming obvious. Most of the leading liquor companies did not make much action during the Double Eleven period.Wuliangye,Luzhou LaojiaoThe prices of other core products have certain discounts, but they are still the same as or slightly higher than the transaction prices in offline stores. Most of the products with higher discounts are ordinary standard products and channel customized products.
The person in charge of the e-commerce of a liquor company told China Business News that although the consumer groups of e-commerce and offline stores do not completely overlap, the main task of the alcohol industry this year is to stabilize the market price system, so there will be no impact on the market. The core products are heavily promoted.
Xiao Zhuqing, chairman of Wuhan Jingkui Technology Co., Ltd., told China Business News that famous wine dealers and some private label wine underwriters have paid huge deposits at the winery and will abide by various publicity and price rules set by the winery. Affected by external factors, some channel agents have no choice but to cash out customized products at low prices on e-commerce platforms in order to survive.
Mobile phone aesthetic fatigue,applePrice reduction to protect the market
In a questionnaire survey initiated by China Business News, during the Double Eleven period, 47.7% of consumers surveyed said they would not consume 3C products such as mobile phones and computers due to their limited budget.
“See nowappleVarious configurations of the new model have been exposed, and there is not much freshness.appleHigh-end mobile phones can cost tens of thousands, but it feels like a luxury to replace them after only one year. The functions are all the same. “A consumer who participated in the survey told reporters that today’s mobile phones have large memory and smooth systems.BatteryIt’s durable, and if the screen isn’t broken, there doesn’t seem to be much motivation to replace it.
Many young people have extended the replacement cycle of their smartphones to record levels: from following Apple and Huawei in the past, they replaced their smartphones once a year to now without replacing them for more than three years.
It seems that it has sensed the hot-cold transition in the market. In early November this year, Apple launched a price reduction strategy online, includingJingdongApple’s self-operated flagship stores on Tmall and other online stores have made price adjustments for the iPhone 15 series. The price difference between some products after using coupons and when they are launched can reach 700 to 800 yuan.
As of 23:59 on November 11, iPhone 15, iPhone 15 Pro Max and iPhone 15 Pro occupy the top three sales rankings on JD.com, and Apple ranks first in total cumulative GMV merchandise transactions on Tmall.
Huawei, another major player in the high-end market, did not put the Mate60 series on Double Eleven this time due to the shortage of supplies.Main forceIn the shipping list, the main models that appear on the “list” of Huawei’s self-operated official flagship store on JD.com are more products such as the nova11 SE based on 4G chips.
Although Huawei has made a lot of noise on its flagship mobile phones, judging from the final data, Apple did not give up too much high-end market share during this Double Eleven.
“Judging from the current market dynamics, Apple’s dominant position in the high-end market and ecological moat are still stable, and the supply situation this year has improved compared to the same period last year. Compared with last year’s Double Eleven, the Pro series has seen greater price loosening, which can Stimulating some demand. Of course, Apple is also expected to face more challenges in the future.” Canalysy ResearchanalystZhong Xiaolei told reporters.
Judging from the Double Eleven battle reports of other mobile phone manufacturers, the main competition is concentrated in the price range below 6,000 yuan.
Xiaomi said that the 14 series ranked first in the best-selling list of Tmall Double 11 mobile phones, and ranked first in the best-selling list of domestic mobile phones priced above 4,000 yuan.
OnePlus said that Ace 2 Pro has successively won the sales of JD.com, Tmall,Pinduoduo, Douyin is the “double champion” in terms of sales and sales in the 3000-4000 price range. In addition, the total sales of OPPO and OnePlus ranked among the top three Android mobile phone brands on JD.com and Tmall. Mobile phone sales on Douyin channels increased by 188% year-on-year, and Kuaishou official mobile phone sales increased by 330% year-on-year.
Realme said that Double Eleven adopts a high-quality strategy, focusing on the Realme GT5, Realme GT Neo5, and Realme GT Neo5 SE. Among them, the realme GT Neo5 series has exceeded one million units in all channels.And inPinduoduoOn the same day, iQOO 12 sales increased by 178% year-on-year, and vivo Y100 sales increased by 135% year-on-year.
In addition to direct version flagships, folding screens are also the key to the competition among various mobile phone manufacturers in this Double Eleven.
OPPO said that Find N3 Flip won the Tmall andPinduoduoThe sales champion of the small foldable category, OPPO Find N3 won the sales champion of Douyin’s folding screen. Honor said that the Honor folding screen family won the Double Eleven championship in the folding screen category, and Magic Vs2 won the Double Eleven championship in folding screen single product sales.
“The overall pace this year is to seek stability, and (manufacturers’) product pricesMeetingSome advantageous price segments are used to reduce prices, but the pursuit of sales for the overall list ranking is gone. “The person in charge of a domestic mobile phone manufacturer told China Business News that after experiencing the peak destocking period last year, everyone is cautiously optimistic about the recovery of the consumer market.
The rise of domestic products
Every year on Double Eleven, beauty in the fast-moving consumer goods category has always been the highlight.
According to Star Map data, during this year’s Double Eleven, the GMV of beauty and personal care products across the entire network reached 78.6 billion yuan, while the GMV of beauty and personal care products during Double Eleven in 2022 will reach 82.2 billion yuan. Some industry insiders told reporters that beauty products in the past two years are not as easy to sell as in the past, and are becoming more and more popular.
In recent years, the top three beauty brands on Tmall’s Double Eleven have been firmly controlled by L’Oréal,Estee LauderIn the hands of foreign brands such as Shiseido and Shiseido, there are very few domestic brands in the top ten, and they rank relatively low. But this year, many domestic brands seem to be more active. in,PROYAThe performance is particularly impressive. On the FMCG list released by Tmall,PROYARanked second only to L’Oreal.
But if we only count the beauty category, “we are number one in beauty.”PROYAThe company said that its main brand Proya won the first place in the beauty industry on Tmall and Douyin, breaking the situation where the top spot in the beauty promotion industry was occupied by international brands.
Winona, another domestic brand, also broke into the top ten in this year’s rankings. In addition, three major domestic brands, namely Nature Hall, Miguang and Kefumei, also entered the top 20.
Local skin care brand Lin Qingxuan’s sales exceeded 100 million on Double 11 this year, setting a new high.
The reporter learned from Proya that the reason for the surge in sales was based on the company’s large single product strategy. Take the Tmall platform as an example. According to Tmall data, Proya’s Ruby Cream 3.0 sold more than 500,000 pieces in one hour, and its dual-antibody mask 2.0 sold more than 270,000 pieces in one hour. Proya’s “Morning C and Night A” combination dual-antibody products Essence sold over 300,000 pieces.
In recent years, Proya’sperformanceincrease rapidly.Financial report data shows that from 2020 to 2022, Proya’s revenue was 3.752 billion yuan, 4.633 billion yuan, and 6.385 billion yuan, respectively.net profitThey are 476 million yuan, 576 million yuan, and 817 million yuan respectively; realized in the first three quarters of 2023operating income5.249 billion yuan and net profit of 746 million yuan, a year-on-year increase of 32.47% and 50.6%.
In addition to skin care brands, reporters found that there is also a wave of domestic brands emerging in the cosmetics field this year. The cosmetics lists on Douyin and Kuaishou platforms for Double 11 are almost all occupied by domestic brands. Tmall, which focuses on international brands, , several “dark horses” appeared. Hua Xizi, which was the sales champion last year, dropped to ninth place in Tmall cosmetics sales ranking this year due to previous negative reviews, but it still maintained its top ten position. Caitang, owned by Proya, ranked second on the cosmetics list, second only to YSL; the other is Mao Geping. As a local high-end cosmetics brand, Mao Geping ranked eleventh this year. The remaining domestic brands Kazilan, Huazhizhi, and INTO YOU ranked 14th, 16th, and 20th respectively. They are basically all on the list for the first time.
According to industry insiders, foreign brands have dominated Tmall’s beauty rankings over the years. Although this year seems to be the same overall, the top spot has been taken by domestic brands again after five years, and there are more and more brands. The inclusion of local brands on the list is also a good trend for the entire industry.
Young people stimulate consumer innovation
HaidilaoAccording to reports, sales during Double Eleven increased by more than 20% year-on-year.,fromHaidilaoFrom the backend data analysis of Tmall’s official flagship store, we can see that customers who stock up on Double Eleven are concentrated between the ages of 18 and 35, with the majority being women.
On the basis of price concessions,HaidilaoUse various forms to “grow seeds” for young consumers, such as cooking hot pot dishes and fast food in live broadcast rooms. Pork tripe chicken, bullfrog pot, etc., which are novel in categories and attractive in appearance, are more likely to attract consumers to place orders immediately.
Attracting young users and tapping the potential of existing users are the focus of promotions for mainstream companies during Double Eleven.Midea GroupAccording to the report, the number of Generation Z users has increased by more than 40% year-on-year, and has been chosen again by nearly 800,000 users;Haier Smart HomeAccording to the report, the transaction amount of members increased by 27%, and the post-95s generation accounted for 28% of the users of the leader brand.
A reporter from China Business News learned from an interview that the consumption patterns of young consumers are obviously different. For example, some young people want to buy high-end goods and luxury goods. Considering issues such as price, frequency of use, and environmental protection, more and more people are beginning to look for second-hand goods. Circular trading of commodities.
The reporter learned from the second-hand trading platform Hongbulin that the number of people participating in circular fashion consumption during Double 11 this year increased by 42% year-on-year. The relevant person in charge believes that behind the growth is the trendy and environmentally friendly features of circular fashion that drive the growth in user scale. More and more young people hope that shopping is an investment and the value should be extended, not just a consumption. It is understood that 70% of Hongblin users are both buyers and sellers, buying and selling at the same time, driving the trend of “integrated buying and selling” of circular fashion users. During Hongbulin’s Double 11 this year, the number of consigned and recycled goods increased by 81% year-on-year, merchants participating in the event increased by 39% year-on-year, and the per capita purchase price increased by 20% year-on-year.
In the past, during Double Eleven, airlines usually teamed up with platforms to launch promotional air tickets or preferential points redemption for some fixed routes (as shown below). This year’s Double Eleven, the content of travel-related products participating in the promotion has undergone relatively big changes. Equity air ticket products dominate.
The so-called rights-based ticket products mean that consumers first lock in the rights to fly in the future at extremely favorable prices, and then reserve specific flights and travel when they have specific travel needs. If consumers do not make a reservation in the end, they can get a full refund. In form, they include Xpress, Air Ticket Pass, Future Fly, Air Ticket Blind Box, etc. These are new “ticket hoarding” products developed by airlines during the epidemic in order to stimulate passenger travel innovation.
Fliggy data shows that on Double 11 this year, more than 400,000 air ticket card products were sold, including Fliggy 66 special air tickets, ANA round-trip tickets,southern AirlinePopular products such as global round-trip cards have gone through multiple rounds of replenishment.
Qi Qi, an expert at the China Civil Aviation High-Quality Development Research Center, told China Business News that the development of rights-based air ticket products is mainly based on the “stock up first and then make an appointment” commodity format that young people prefer, and “transfer it through cheap package prices” “Part of the certainty and convenience to get excellent value for money. While airlines are stimulating travel demand and expanding their own sales, they have also implemented more refined route inventory operation management, leaving more room for improving revenue management.
Rational consumption and consumption upgrading coexist, and consumption grading emerges
There is a lot of controversy among market participants as to whether there is a consumption downgrade in domestic consumption. A reporter from China Business News found that rational consumption in pursuit of cost-effectiveness does not conflict with consumption upgrading. They exist at the same time. It is more accurate to describe it in terms of consumption grading.
During this year’s Double Eleven, Adidas said it achieved double-digit year-on-year sales growth across all platforms (including Taobao, Douyin, JD.com and Adidas’ own platform), and one Samba shoe became a popular product among consumers.
Ms. Bai purchased the white Samba OG as early as March this year. She said: “I followed the trend and bought them. Many celebrities were wearing them, such as Kendou and Ma Sichun. I felt that I also had to own a pair of fashionable shoes.” At that time, Ms. Bai bought the size she wanted because the Tmall flagship store did not have it. So I paid nearly 30% premium to buy it from Dewu. Nine months later, on Double Eleven, she bought another pair from the Tmall flagship store for 799 yuan.
The Adidas Samba series of shoes has set off a retro trend in the sports shoe and clothing circle, and continues to explode out of the circle. It frequently appears in the outfits of global celebrities, Internet celebrity bloggers, and sneaker enthusiasts.
According to the Dewu platform, the cumulative sales of Samba OG reached 140,000+. During Double Eleven, Adidas said that Samba OG was sold at full price and could still achieve good sales growth.
Adidas said that judging from the overall performance of this Double Eleven, consumers have become more rational and have obvious consumption grading characteristics. Hot-selling items such as Samba are selling well on the basis of maintaining full-price sales. At the same time, consumers The preference for discount categories and single products is also particularly obvious.
Yihai KerryArowanaThe Double Eleven battle report released shows that the overall performance of the entire platform increased by 22%. The top two popular products in the rice category are Milky Princess Daoxiang Gong rice andArowanaLong-grain fragrant rice, among which the sales volume of Ruyu Huangfei exceeded 1.7 million bags.ArowanaSales of long-grain fragrant rice exceeded 2.2 million bags. A 10 kilogram bag of Milk Jade Princess sells for 89.9 yuan, and long-grain fragrant rice of the same weight costs 65.9 yuan. Judging from the price, one is positioned as a mid-to-high-end product, while the other is at a mass price point, but both are sold through e-commerce. The platform’s hottest hits. Relevant people told China Business News that the current trend of consumption grading is becoming increasingly obvious. On the one hand, with the improvement of people’s living standards and awareness of the concept of health, eating better and eating healthier has become the choice of many consumers. Therefore, some products that meet the needs of niche, personalized, mid-to-high-end consumers have emerged. , sales volume has increased significantly; at the same time, popular products with relatively user-friendly pricing can meet the needs of mainstream consumers, so the consumer demand structure is diversified.
“The sales model of China’s e-commerce has hit a ceiling, and consumers are now increasingly indifferent to the ‘lowest price on the entire network.’ The sales of Apple mobile phones worth more than 8,000 yuan can rank among the top three in the overall list of Double Eleven, which shows that although consumption is polarized Differentiation, but consumers are not without money, they just consume more accurately and only buy the right ones instead of just looking for cheap.” Peng Yu, COO of Beijing Red Sandalwood Insight Data Co., Ltd., suggested that practitioners should focus on exploring consumer pain points and promoting industrial upgrading. , only by stepping out of the “whole network fights for low prices” can we truly activate the potential of market demand.
The lowest price is still king
The core factor of competition in the retail industry is to provide consumers with high-quality and low-priced products. This year’s Double Eleven, various players competed to promote low prices.
This year’s Double Eleven, JD.com gained a lot of traffic through its purchasing and selling live broadcast room. JD.com data shows that as of 23:59 on the evening of November 11, the total number of viewers of JD.com’s purchasing and selling live broadcast has exceeded 380 million.
The relevant person in charge of JD.com’s purchasing and selling live broadcast room told China Business News that during JD.com’s Double Eleven, popular products such as the iPhone 15 series, VGN keyboards, and singing microphones were sold out as soon as they were put on the shelves.
BOEIt is said that the above results are based on the affordable low price brought by “no pit fees and no commissions for experts”, which has set off a new trend of goods in JD.com’s purchasing and sales live broadcast room. This low price is by no means based on substandard recharge. Well, the “fake low price” obtained by short of jinshaoliang relies on the ultimate supply chain, continuous squeezing of water in the supply chain, and passing on the saved money to users and partners, which can truly promote consumption and stimulate consumption. The “really low price” of market vitality.The daily price of Changba G1 wireless microphone is 259 yuan on JD.com platform, and the price in JD.com purchasing and sales live broadcast room is 159 yuan. The original price is 599 yuan.LogitechThe ergonomic mouse is priced at 189 yuan in JD.com’s purchasing and sales live broadcast room. JD.com said it is the lowest price among all channels.
Focus on the fresh food industryDing dong grocery shoppingThis year, it joined the Double Eleven camp for the first time and launched an 11-day annual promotion starting from the beginning of the month. Data shows that in the first phase of the just-concluded promotion,Ding dong grocery shoppingThe main product, “Daliangshan Ugly Apples”, which is directly harvested from the production area, sold 200,000 pieces in one day. At the same time, a “Guangming Youbi organic high-quality milk 900ml box” was also “ordered enthusiastically”, with sales exceeding one million, a month-on-month increase of more than 1,000% compared to the previous cycle.Ding dong grocery shoppingSaid that the price is about 50% off the usual price, which should be a very high discount for fresh products. On the one hand, the hot sales are due to the discounts, and on the other hand, these are daily necessities and are not affected by everyone’s rational consumption trend.
Structural growth replaces general growth
Peng Yu, COO of Beijing Rosewood Insight Data Co., Ltd., a market research organization, revealed to reporters that from the retail monitoring data of key enterprises and key stores (including JD.com, Tmall, and Douyin),Appliance industryOverall online sales fell year-on-year from October 31 to November 10.
“Our product structure is being greatly optimized, but the overall market has indeed declined year-on-year, and the magnitude is not small.” A person in charge of a color TV company told reporters.
Li Xiaoxiong, general manager of Hamilton China Marketing Center, also said,Appliance industryThis year’s overall growth is unlikely because last year’s Double Eleven was still during the epidemic, so everyone stocked up on all kinds of goods and bought everything they could think of and buy.
At present, only Haier, Midea, Xiaomi, Timco, Zhuimi and other home appliance brands have reported battle results, and most of them do not mention the overall year-on-year growth rate. In the Double Eleven home appliance market, there are more structural growth opportunities, such as upgraded products, trending categories, and purchase plans.
Haier Smart Home(600690.SH) said in a written reply to a reporter from China Business News that this year’s Double Eleven has increased compared with before the epidemic. The number of users purchasing Haier brand complete sets increased by 63%, the number of users of Casarte brand transactions increased by 35%, zero-embedded refrigerators, There are hot products in areas such as washing and drying sets.
Midea Group(000333.SZ) This year’s Double Eleven battle report has advanced the statistical time to September 1. Its battle report stated that COLMO and Toshiba’s arbitrage purchases increased by more than 30% year-on-year, and sales of trend categories such as floor washing machines, washing and drying sets, and fully embedded series increased by more than 120% year-on-year.
(Source of article: China Business News)
Article source: China Business News
Original title: 9.9 Yuan Baijiu, Apple’s Price Cut to Stop Huawei, Double Eleven Consumption Trends Are Highlighted
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