Double 11, the longest in history, brought the platform ＂full growth＂ battle report： ＂brand turnover＂ replaced the overall GMV.

On November 11, 2024, an anchor in Haitou Town, Ganyu District, Lianyungang City, Jiangsu Province used a mobile phone to sell lobsters live. Vision china diagram

The 16th "double 11" shopping festival came to an end.

Double 11, which can’t be shaken every year, seems increasingly deserted in the atmosphere of public opinion. Perhaps because of the tiredness of the outside world for the shopping festival, e-commerce platforms chose to rush to run collectively. This year is also known as the longest "double 11" in history: since October 8, in less than a week, platforms including Pinduoduo, Tik Tok, Taobao Tmall and JD.COM have successively announced the launch of the "double 11" promotion, with a time span of one month.

Controversy still exists: It is rumored that Ralph Lauren, a clothing brand, has become a "collection artifact" of Taobao double 11, which is specially used to deal with the full or reduced rules of the platform, and the return rate in double 11 is as high as 96%. However, relevant rumors were denied by the platform.

It is worth noting that the implementation of the "trade-in" subsidy policy has led to a significant increase in household appliance consumption. According to the star map data, as of October 30th, the total sales of double 11 in 2024 reached 845 billion yuan. Among them, household appliances ranked first with sales of 132.4 billion yuan, accounting for 15.7% of the market. Mobile phone digital and clothing categories accounted for 14.2% and 14.0% of the market share with sales of 120.1 billion yuan and 118.4 billion yuan respectively.

The extended promotion cycle has certainly brought a more beautiful "report card", but what is the difference between this "report card" and previous years? What are the factors driving growth?

E-commerce Battle Report: Highlighting Brand Turnover

Judging from the battle reports disclosed by various platforms, double 11 still has rapid growth this year.

This year is another year of "stealth" in e-commerce transaction volume. JD.COM and Tmall, two traditional e-commerce platforms, have only published growth data such as order volume, user scale, brand and merchant turnover, and there is no more carnival after zero in previous years. Moreover, both companies have replaced the growth rate of "GMV" with the specific growth rate of "brand turnover".

At 24: 00 on November 11th, Tmall double 11 closed in 2024: the total turnover increased strongly, and the number of buyers reached a new high. In the whole cycle of Tmall double 11, the turnover of 589 brands exceeded 100 million, up 46.5% year-on-year, setting a new record.

The number of shopping users in JD.COM increased by over 20% year-on-year, and the order volume of live broadcast in JD.COM increased by 3.8 times year-on-year. The turnover of over 17,000 brands increased by over 5 times year-on-year, and the turnover of over 30,000 small and medium-sized businesses increased by over 2 times year-on-year.

If we look at the double 11 Battle Report of the two platforms in 2023: In 2023, Taotian Group said that "the order volume and total turnover increased in an all-round way"; In 2023, JD.COM said that "the turnover, the order volume and the number of users reached a new high".

Insiders from Taobao and JD.COM revealed to reporters that the overall transaction volume of the platform side has increased year-on-year, but the growth rate is relatively flat. From the perspective of the incremental source of the platform, the trade-in policy and the recovery of live e-commerce have greatly boosted the transaction volume.

Emerging e-commerce companies such as Tik Tok and Aauto Quicker are sharing the traffic of traditional e-commerce. Like e-commerce platforms, the turnover of "flagship" brands has increased this year.

According to the disclosure of Tik Tok e-commerce, from October 8th to November 11th, the turnover of over 33,000 brands doubled year-on-year, the turnover of nearly 17,000 brands increased by over 500%, the turnover of over 2,000 single products exceeded 10 million yuan, and a total of 275 brands realized the turnover of over 100 million yuan through live broadcast. As of October 20th, the GMV of Tik Tok Mall increased by 91% year-on-year.

According to the analysis of Guohai Securities Research Report, with the overweight of the national "trade-in" and other stimulus policies and the increase of subsidies for various e-commerce platforms, the vitality of the consumer market is expected to recover, and the follow-up performance of traditional e-commerce platforms and live e-commerce platforms will pick up.

"Government coupons also play a very positive role in promoting online consumption." Cui Lili, a chair professor in the Department of Digital Economy of Shanghai University of Finance and Economics, told The Paper that the performance of e-commerce platforms superimposed with local government subsidies is more outstanding, especially the sales of high-value products such as 3C categories and computers are better.

Super anchor returns to double 11.

In September this year, the three sheep companies, where the "Crazy Xiao Yang Ge" with over 100 million fans was located, were punished for the existence of false propaganda in live broadcast, which triggered a shock in the live broadcast industry.

However, judging from the record performance, the head live broadcast room has a good battle situation in double 11 this year.

The data shows that the purchase amount of "double 11" in Li Jiaqi live room increased by more than 20% year-on-year; On the night of the spot sale of Tmall double 11, the turnover of the live broadcast room in Li Jiaqi exceeded 100 million yuan within 5 minutes.

During his stay in double 11, the turnover of Luo Yonghao’s "Make a Friend" exceeded 6.4 billion yuan, up 158% year-on-year, and the cumulative order volume exceeded 7.14 million, a record high.

"Simba" in online celebrity, Aauto Quicker, who once started a public opinion war with Xiao Yang Ge, also achieved good results. According to Xin Xuan’s disclosure, more than 200 live broadcasts were arranged from October 13th to November 11th, with a total sales volume of more than 68 million, and the total GMV increased by 61.9% compared with last year. Among them, there are 16 games with sales exceeding 100 million and 47 games with sales exceeding 10 million.

However, the previous industry chaos made the live broadcast industry enter an adjustment period. "The platform no longer supports the head anchor blindly, but began to pay attention to supporting the waist anchor and the tail anchor, and began to explore new marketing channels, scenarios and methods." Zhai Wei, executive director of the Competition Law Research Center of East China University of Political Science and Law, told the reporter.

"Big anchors should completely abandon illegal means such as creating false people, making gimmicks, and manipulating fans’ emotions." Zhai Wei said, "The live broadcast industry still has demand and prospects, and it also has strong resilience for sustainable development. In the context of peak traffic, the competition in the live broadcast industry will gradually transform into qualitative competition, and the industry will enter a new stage of development from the grassy era. "

The platform moves from competition to cooperation

Another highlight of double 11 this year is that the major e-commerce platforms have changed from "smoke filled" to "shaking hands and making peace".

On September 4th, Taobao announced its full support for WeChat payment. Wechat Payment responded that it has successively cooperated with UnionPay China Unionpay Quick Pass, JD.com Payment, payment platforms of the three major operators, and digital RMB, and will continue to explore in the future to continue to provide convenience for users on the basis of ensuring transaction security.

On October 16th, the old rivals JD.COM and Taobao also announced the news of cooperation: Jingdong Logistics will fully access the Taobao Tmall platform, and the third-party platform in JD.COM will also access the rookie; At the same time, shopping on JD.COM can be paid by Alipay, and connecting Jingdong Payment to Taobao Tmall is also being promoted.

This also means that it is the general trend for the platform to accelerate the demolition of the wall and move towards win-win cooperation.

However, according to the test in The Paper, there are still many things to be improved. At present, some products in Taobao already support WeChat payment. Click "More Payment Methods" to expand and choose. Some products don’t have the "WeChat payment" option. Taobao service replied that WeChat payment is still in trial and has not been fully opened yet. Please refer to the payment page if the order can be used.

The reporter tested a number of commodities in JD.COM, but Alipay payment is still in the gray-scale testing stage.

In October this year, referring to the effect of interconnection, Jia Luo, president of Tmall of Taotian Group, told The Paper that it has been observed that the frequency of use and the scale of users in young user groups and sinking market are growing rapidly. "It is expected that double 11 this year should be the largest number of people who participated in double 11 in history."

In the eyes of the industry, the peak of e-commerce traffic and the entry into stock competition are important reasons for the platform to hold hands. Ali, JD.COM and other traditional e-commerce companies are facing fierce challenges from Pinduoduo and Tik Tok e-commerce. The reporter learned from insiders in Tik Tok that after the establishment of Tik Tok Platform for more than two years, the transaction volume of platform commodities exceeded one trillion yuan.

"It is obvious that each sticks to the city and does not adapt to the consumer market under the current situation. The big manufacturers are already in the competition stage of the stock market, and each has its own needs for new growth and profitability." Zhuang Shuai, an e-commerce analyst and founder of Bailian Consulting, told the The Paper reporter, "Under the background that the overall growth of e-commerce has entered the stock, it is the correct idea for each platform to make use of each other’s advantages and strengths to complement each other. How can everyone give full play to their respective advantages and jointly serve consumers? This is the most important thing. Interconnection objectively improves the convenience of double 11 consumers’ shopping, and also encourages consumers’ enthusiasm for shopping in double 11. "