Source: Finance Association

Less than a month until the “Double Eleven” promotion, various platforms have launched early warm-up promotions one after another, but some platforms have already directly started pre-sales.

In addition to e-commerce platforms commonly used by consumers, such as Taobao, Tmall, JD, Douyin, Kuaishou, Vipshop, and Suning, Station B, Xiaohongshu, and Oriental Selection are also participating more actively in this year's Double Eleven promotion.

It is worth noting that the “interconnection” issue between platforms, which had never been conspicuous before, has finally been solved. It is reported that with the support of WeChat being able to directly redirect to Taobao and Taobao starting the WeChat Pay test, the 15th Double Eleven is coming in a more positive way.

Cats and dogs compete for the “low price” label

Among mainstream e-commerce platforms, Douyin started a pre-sale race on October 15, covering popular categories such as snacks, beauty, personal care, home cleaning, jewelry, and down jackets. After the pre-sale for key categories ended, the “Douyin Mall Double 11 Good Things Festival” deposit pre-sale officially began in full on October 20.

What's different is,In order to simplify shopping rules, this year's Double Eleven Promotion Douyin no longer introduces full cross-store discounts. Instead, merchants decide their own discount rates and discounts, starting at 15% for the entire promotion cycle.

Facing a large number of merchants, the platform provides traffic support for prominent merchants and key products with complex conditions based on merchant transaction data, user feedback, service indicators, etc. In addition, Douyin will also launch shopping channels on its page to attract consumers to place orders, such as bargain purchases and low price flash sales.

Kuaishou was the first platform to fully launch the Double Eleven pre-sale promotion, and proposed the “10 billion dollar supplement for big names, all in Kuaishou Mall” theme.

According to the official announcement of the Kuaishou platform,The Kuaishou E-Commerce Double 11 Shopping Carnival was officially launched on October 18, and includes three major stages: pre-sale, final payment, and official sales. During the official sales period, which begins on October 31, the platform will focus on releasing the biggest discounts throughout the year, so that users can truly experience “a good life can be inexpensive.”

For the authentic big-name products that consumers are most concerned about, in addition to introducing “genuine insurance” and an 8.5 percent discount on the final payment before and after sale, the Kuaishou platform also focuses on attracting consumers through “good products at low prices” with more competitive prices. Earlier, Kuaishou e-commerce announced that this year's Double 11 would invest 18 billion dollars in traffic and 2 billion dollars in product subsidies.

For JD and the Tmall platform, “low price” has become the most fiercely contested label between the two. Among them, JD will launch this year's Double Eleven promotion at 8 p.m. on October 23, while Taobao and Tmall will launch the Double Eleven promotion on the evening of October 24.

According to reports, at the previous Tmall Double Eleven launch meeting,Taotian Group directly called for the “lowest price on the entire network” as its core goal this time.This is also the first time that Taobao and Tmall emphasized the “lowest price on the entire network” concept during the Double Eleven promotion. Previously, the company's assessment goals for big promotions often focused on indicators such as turnover and number of daily active users.

More specifically,This year, on Double Eleven, Taobao will set up “the lowest price among all e-commerce platforms at the same time” products, as well as a direct 15% reduction in individual products, so you can buy products without rounding up orders.Tmall, on the other hand, will launch the “Double 11 Day Low Price” campaign to give preferential resources to merchants offering the lowest prices on the entire network during the promotion period. At the same time, “You must pay if you buy too much” has also become a subsidy service attached to this platform.

At the “JD 11.11 is really cheap” launch conference on October 19, JD also emphasized once again that this year's JD 11.11 focuses on the most sincere prices, the most attractive products, and the most thoughtful service. It uses real, really low prices to bring consumers a really cheap and closed-eyed consumer experience.

Speaking at the conference, JD Retail CEO Xin Lijun saidLow prices are the essence of retail that JD has always followed. It is also the essence that JD has always adhered to since its establishment. It is also the gene that JD has engraved in its bones.

According to the introduction,This year, JD will no longer pre-sell on Double Eleven, but instead chose to sell in stock and directly launch all major promotions, including cross-store promotions such as 299 yuan minus 50 yuan, 20 yuan in welfare benefits, participation in doubling 10 billion subsidized products, and lowering the free shipping threshold for self-operated products.At the same time, JD also proposed services such as “double the purchase price” and “full price insurance for over 800 million products”.

Furthermore, Xin Lijun stressed that JD's low price is not a “bloody subsidy,” but rather a “really low price” that continues to “squeeze moisture” into the supply chain, conceding money saved through extreme efficiency to users and partners, which can truly promote consumption and stimulate the vitality of the consumer market.

In addition to leading e-commerce companies, Vipshop also announced plans for this year's Double Eleven promotion. The 11.11 special sale carnival will begin early on October 20 at 8 p.m., and the event will continue until November 14 at 10 a.m. Vipshop once again adheres to the principle of simplified rules. There is no need to round up orders or completely reduce them; there is no need for a promotion model where one item can be discounted. Discounts for many big names on the platform will reach new lows, and it will also become one of their promotional highlights.

Suning Tesco's “Double 11" will begin on October 23. First, it will launch spot sales, and then enter the final pre-sale discount. The promotion will continue until November 10. In terms of discounts, Suning Tesco will launch benefits such as a 200-plus reduction of 30 across stores, all product exchanges, and large membership allowances.

New players appear to highlight their own characteristics

Xiaohongshu is the fastest to “rush”. As early as September 26, Xiaohongshu held the “2023 Xiaohongshu Double Eleven E-commerce Partner Mobilization Meeting”. At the same time, it was announced that it would launch 100 million levels of subsidies and 10 billion dollars of traffic to actively welcome the first Double Eleven promotion stress test after the platform was transformed into “e-commerce for buyers.”

On October 15, the Double Eleven themed live broadcast room by Xiaohongshu's leading live broadcast blogger Zhang Xiaohui was launched ahead of schedule.

According to data from the Xiaohongshu platform, Zhang Xiaohui's live broadcast room sales exceeded 100 million yuan that night, and the live broadcast room sales of several fashion brands exceeded 1 million yuan. This also made Zhang Xiaohui the first buyer of Xiaohongshu to exceed 100 million dollars in sales, bringing a good start to the platform's promotion.

It is expected that Xiaohongshu will officially launch on October 20. At the same time, discounts such as cross-store full discounts, direct sales, platform vouchers, and live broadcast room red envelopes will be launched to attract consumers to place orders and purchases through buyer channels through various methods such as live broadcasts and notes.

In recent years, the rapidly rising Oriental Selection app is no longer limited to multi-platform live streaming, but is once again increasing its own self-operated Oriental Selection app.

On October 17, just before the platform's big promotions began one after another, the Oriental Selection App launched a paid membership system. The price was 199 yuan/year. In the Oriental Premium App, members can enjoy 88% off, 12 annual membership coupons, and membership packages.

Compared to other e-commerce members, Oriental Premium has introduced an option to terminate the membership service. If consumers feel unsatisfied, they can apply for a refund, and the platform will refund the remaining service fee after deducting the discount already used.According to publicity, Premium membership can save consumers up to 12,000 yuan per year.

In terms of horizontal comparison, the Tmall 88VIP membership price is 88 yuan/year, and the JD PLUS membership price is 99 yuan/year. You can also enjoy certain membership discounts and coupons.Compared to mature integrated e-commerce platforms, the number of products on the Oriental Premium App is only a few hundred self-operated products and more than a thousand external links, which does not have an advantage.

Therefore, some commentators also believe that Oriental Selection hopes to target large supermarkets such as Sam's, Costa, and Hema X members to attract consumers to buy again, and complete its role from live streaming to cultivating loyal users.

By the close of trading on October 18, the stock price of Oriental Selection had plummeted by 7.92%, and the market did not respond very warmly to its paid membership model.

According to Yu Minhong, the founder of New Oriental, said in his personal account, “The bustling business model built on an external platform is highly vulnerable. We still have a long way to go to consolidate the foundation for long-term development.” Get rid of the dependency on live streaming rooms and focus development on strengthening the appeal and turnover of Dongfang Selection's self-operated apps. The Oriental Selection team will also conduct more experiments.

This is not the first time that Site B has participated in the Double Eleven promotion, but in 2023, Station B invited content bloggers from multiple platforms to try out the live streaming model. More bloggers joined the platform's business plan and participated more actively in revenue generation models such as content delivery, live streaming, and linking.

At the end of September, Station B announced a joint collaboration with the Taobao Alliance to provide backfeed support for online content bloggers, provide continuous marketing for topical campaigns for listing merchants, and once reached 10% rebate for merchants and bloggers. With this Double Eleven promotion, Station B is being more active in providing closed-loop transaction services such as drainage, planting, and transformation for the Taobao platform.

Some commentators believe that as a content community platform that is difficult to commercialize, Station B's move may be aimed at cultivating the shopping and ordering habits of platform users and lay a good foundation for the subsequent commercialization of the platform itself.

Editor/jayden