Text | Cecilia Xu
Research Assistant | Jia Baoqi
This year's Double Eleven team competed against each other, butPinduoduowithJingdongDid it create a surprise at the same time?
Back to the era of acceleration
In 2019, “Double Eleven” celebrated its 11th birthday. As the volume increased, the image of “Double Eleven” also began to become bulky. However, it was at a moment like this that the 11-year-old “Double Eleven” used accelerated growth to show us the lightness hidden under its bulky exterior.
According to the report published by Star Map data, as of November 11, 2019, the total network sales of “Double Eleven” reached 410.1 billion yuan this year, an increase of 30% over the previous year. 6 percentage points higher than the 24% growth rate in 2018,Back to the era of acceleration.
Ali: “Oh my God, buy it buy it”
According to official data, in this year's “Double Eleven” promotion, Alibaba's sales reached 265.3 billion yuan, accounting for 65% of total online sales. Although this is down 68% from last year, it is still far ahead of other platforms.
Unlike previous years, in this year's “Double Eleven,” Taobao's live broadcast showcased style, and Li Jiaqi's “oh my god, buy it, buy it” became a beautiful scenic route. According to the data,Tmall Shuang11 throughout the day. Taobao live streaming brought close to 20 billion dollars in transactions, and more than 10 live broadcast rooms led to over 100 million transactions。 Among them, the home improvement and consumer electronics industries led to a year-on-year increase of more than 400% in transactions led to a year-on-year increase in transactions. Over 50% of businesses are gaining new growth through live streaming.
According to the “Sinking Market Report” published by QuestMobile, the proportion of users under 18 and over 46 in the sinking market is high, they have more leisure time, and are very sensitive to cash rewards and prices. These characteristics just provide fertile ground for the development of live e-commerce.
As a fierce product of Ali's sinking strategy, Taobao Live's outstanding performance in “Double Eleven” injected a dose of strength into Ali, which is sinking.
JD: Is “Jingxi” really a surprise?
According to the report published by Star Map data, JD's “Double Eleven” sales reached 70.5 billion yuan on the same day, an increase of 30% over the previous year, far higher than the 0% year-on-year growth rate last year. According to official data from JD, the total turnover (GMV) of November 1-11 reached 204.4 billion yuan, an increase of 28% over the previous year.
No matter what set of data,JD's performance in Double Eleven this year was much better than last year. Why did JD perform so well?
One reason is that the overall shopping sentiment of consumers is high。 Unlike previous years, this year's “Double Eleven” has been filled with an atmosphere of huge subsidies.The “10 billion subsidy” price war started by Pinduoduo filled the entire e-commerce market while also boosting users' enthusiasm for buying。 Stimulated by various subsidies, this year's Double Eleven also achieved great results.
Other than that,The decline of JD's brand “Jingxi” also seems to have created a real surprise。 According to the Double Eleven War Report, the global social networking platform “Jingxi”, which focuses on buying, sells 101 million products throughout the day. Nearly 70% of users come from third-tier to sixth-tier cities, and sixth-tier cities account for nearly 30% of the total users. Jingxi got off to a good start.
It is worth noting that as “Jingxi” replaced “JD Shopping” and gained first-level access to WeChat,Although the more declining “Jingxi” can help JD get more users in the declining market, it also has to face lower customer unit prices.
Furthermore, within the WeChat ecosystem, JD simultaneously lays out two entrances, “Jingxi” (Level 1) and “JD Shopping” (Level 2). On the one hand, it will reduce WeChat users' dependency on Pinduoduo, and on the other hand, it will also provide WeChat users with a more complete JD.
Overall,Sinking has become synonymous with the next phase of JD, and competition between it and Pinduoduo will further intensify. However, with the addition of Jingxi, JD seems to have won back 10% of the battle with Pinduoduo. After all, now the sinking users on WeChat are no longer just Pinduoduo exclusive to Pinduoduo.
Pinduoduo: How fast is it?
Since Pinduoduo joined Double Eleven last year, it has shown a dark horse trend. In the first year of joining, sales reached 9.4 billion yuan, exceeding 9.4 billion yuanVipshopRanked fourth. This year's momentum continued unabated. Sales reached 25 billion yuan, up 166% year on year, and market share doubled from 3% last year to 6%, making it the third largest e-commerce platform (GMV perspective).
Although the growth rate of 166% is significantly higher than that of peers, for Pinduoduo, this figure is not impressive.
According to the news, before the official start of Double Eleven, Pinduoduo proposed its November transaction volume (GMV) internally, with the goal of reaching three times that of October.
According to monitoring data released by Supersymmetric Technology, Pinduoduo's GMV reached 107.7 billion yuan in October. This means,If Pinduoduo were to achieve the goal of tripling, it would reach 300 billion yuan in November. Based on this target estimate, the figure of 25 billion yuan on the day of “Double Eleven” doesn't seem that bright.
Since Pinduoduo did not give official GMV data,The real contradiction appeared in the monitoring data of Double Eleven。 The Zhi Krypton Research Institute observed that the measurement data, which was not much different from previous years, was reflected in Pinduoduo's monitoring this year, apart from the relatively large differences,According to data released by Hypersymmetry, Pinduoduo's GMV reached 42.8 billion yuan on the day of “Double Eleven”, 71% higher than the 25 billion yuan on the Star Chart.
Obviously, if the GMV of Pinduoduo reached 42.8 billion yuan on the day of Super Symmetric Monitoring, then Pinduoduo's performance would have been impressive.However, the Zhi Krypton Research Institute believes that this is still some distance from the goal Pinduoduo has set for itself (3 times that of October).
It is worth noting that since Pinduoduo's “10 billion subsidy” plan has become the norm, Pinduoduo will probably maintain a relatively good trend after the Double Eleven holiday. Compared with JD and Ali's impulsive “Double Eleven,” Pinduoduo's Double Eleven trading volume may be even flatter.
JD takes back one city
After Double Eleven, as “Jingxi” began to open up the situation on WeChat, and Ali also continued to sink, Pinduoduo was victimized by the sinking marketSeen from this point of view, next year will only be a year where Pinduoduo will face a test.
Furthermore, due to Pinduoduo's “10 billion subsidy”, the prices of some brand star products are far lower than the official prices, the Zhi Krypton Research Institute suggested,This kind of large subsidy may have a certain impact on the brand's strategy and image. At that time, if brands have trouble with Pinduoduo, Pinduoduo's situation will no longer be as simple as facing two rivals, JD and Ali.
However, for JD, in the process of sinking, subsidies are unavoidable.How to make subsidies more effective, bring in more customers, and guarantee profit levels while subsidizing is very important to JD.
But at least we saw,inTencentIn the declining ecosystem, Pinduoduo is no longer a single family. JD quietly uses Jingxi to win back a city, but whether Jingxi can continue to bring surprises still requires continued attention.
Mobile phones: Huawei is growing by leaps and bounds,XiaomiEqually lovely
According to data provided by Magic Mirror Intelligence, on “Double Eleven” this year, the total sales volume of Tmall's top 10 mobile phone brands reached 4.73 billion yuan, an increase of 27% over the previous year.Among them, the year-on-year growth rate of Huawei reached 187%, achieving leapfrog growth; Xiaomi's year-on-year growth rate reached 42%, breaking free from last year's decline.
It has experienced a lot of pressure from the outside world, plusGoogleRestrictions on its own development, such as the cessation of some cooperation with Huawei, have made this year an extremely difficult year for Huawei. However, the Mate 30, P30 and other series of products launched by Huawei this year can no longer be compared to previous products. At the press conference, Huawei also directly used its new Mate series products andapplesCompared with products, it also took the lead in launching a 5G model.
Major appliances:GreeFar exceeding the growth rate of the industry, Xiaomi's growth is worrying
According to data provided by Magic Mirror Intelligence, on “Double Eleven” this year, the total sales volume of the top 10 major appliance brands on all Tmall platforms reached 10.07 billion yuan, an increase of 52% over the previous year.Among them, Gree's year-on-year growth rate reached 233%, far exceeding the industry's growth rate; Xiaomi's year-on-year growth rate slowed to 14%. It seems that the situation of newly developed household appliances is not very optimistic, and it is worth paying attention to whether it can achieve good results in the future.
Beauty: An Expected Champion
The domestic beauty brand Perfect Diary became a hit in 2018 and was recommended by the entire network. In Double Eleven, it also surpassed many other international brands to rank first in the sales share of beauty brands due to its high cost performance ratio, and is still popular among consumers this year. With the high volume of traffic obtained by this Double Eleven Perfect Diary with a high growth rate and an affordable price route, it is also an expected result that it once again achieved the first place in sales share, while maintaining the first place in sales in many categories.
Overall, the overall performance of Double Eleven is still strong this year, and the decline has become synonymous with Double Eleven.Although the Smart Krypton Research Institute believes that Pinduoduo's GMV in the third quarter will exceed market expectations, Pinduoduo will face more tests next year.
In Tencent's sinking ecosystemJD has quietly used Jingxi to move back to a city. After the fierce competition arrives, can Jingxi continue to be pleasantly surprised? At the same time, the myth about whether Pinduoduo can withstand the pressure of the brand, Ali, and JD to continue to create growth is also worth paying attention to.