The historically longest "singles' day sales" shopping festival has come to an end after nearly a month. This year, boosted by government subsidies, there was a huge explosion in sales of electronics and housewares during singles' day sales, and platforms showed a trend of not raising prices while offering good value for money. As some top anchors encountered problems, the rise of quality live streaming is emerging.

The final reports of this year's November 11 shopping festival for the two e-commerce giants alibaba and jd.com seem relatively brief. Tmall announced that at midnight on November 11, 2024, the total transaction volume of Tmall on singles' day sales soared, reaching a record high in terms of the number of purchasing users. Throughout the singles' day sales period on Tmall, 589 brands surpassed a billion in transaction volume, a 46.5% increase from the previous year, setting a new historical record.

Taking into account the announcement made by Tmall on October 31 at 8 p.m. when the singles' day sales officially started, it was revealed that 373 brands had reached a billion in transactions since the beginning of singles' day sales this year. It can be estimated that within 11 days, brands with transaction volumes exceeding 0.1 billion yuan saw an increase of approximately 58%.

JD.com announced that as of 11:59 p.m. on November 11, 2024, the number of shopping festival users on JD.com had increased by over 20% compared to last year, with a 3.8-fold year-on-year growth in sales orders from livestreaming. The transaction volume of over 0.017 million brands saw an over fivefold increase year-on-year, while that of over 0.03 million small and medium-sized merchants doubled compared to last year.

The overall singles' day sales started 10 days early, with platforms focusing on providing good value for money rather than just lower prices.

This year's singles' day sales had the longest duration in history. Compared to last year, Taobao and Tmall started 10 days early, Jingdong started 9 days early, Douyin started 7 days early, and Pdd Holdings started 6 days early. Overall, this year's singles' day sales began on October 14, a further 10 days earlier than the previous year. Platforms like JD.com, Douyin, and Pdd Holdings all had promotional periods lasting more than 30 days.

For some consumers who feel that November 11 shopping festival-related is becoming "weaker," Xinhua Daily quoted industry insiders as saying that this is somewhat related to the dispersed timing. But for consumers, the longer discount period actually gives the initiative back to them. There is no need to aggressively reach a certain discount amount, which evidently provides a better experience.

Xinhua Daily mentioned another change in this year's singles' day sales: almost all platforms do not heavily emphasize on reducing prices or service fees, and this year almost no platform claims to have the "lowest price across the entire network."

The theme of the JD.com "November 11" launch ceremony was locked in as "both cheap and good," while expressing the desire to avoid excessive internal competition in the industry. Wu Jia, Vice President of Alibaba Group, mentioned that this year's November 11 hopes to establish stable prices for merchants with quality and guaranteed services, ensuring that brands and merchants have stronger pricing autonomy.

PDD Holdings has upgraded the merchant service fee refund exemption benefit and reduced the technical service fee of "post-payment for pre-used" orders by 40% on the eve of November 11 shopping festival-related.

There are also comments suggesting that this year, many e-commerce platforms are no longer aggressively pursuing the lowest prices across the entire network, but rather paying more attention to the trend of cost-effectiveness and high-quality products, such as Tmall's good quality and price, and JD.com's "both cheap and good."

Supported by national subsidies, household appliance consumption takes the leading position, followed closely by mobile phones, digital products, and outfits.

Compared to previous years, this year's November 11 shopping festival-related came earlier, with major platforms offering greater subsidies. With the support of the national subsidy for trade-ins, it has ignited the enthusiasm of consumers, and the turnover of major e-commerce platforms has shown varying degrees of growth, with household appliances consumption dominating.

Data from Star Map shows that as of October 30, this year's November 11 shopping festival-related total online sales have reached 845 billion RMB, with the report stating: "This figure not only breaks the historical sales record in October but also demonstrates consumers' sustained enthusiasm and high participation in the November 11 shopping festival."

Tmall platform has added more than 90 small appliances and smart home categories with stackable discounts on the old-for-new subsidy, driving a significant growth in related categories.

Data from the first stage of Tmall's singles' day sales from October 21st to October 24th shows that the transaction growth rate of over 0.012 million brands exceeded 100%, with nearly 6000 brands growing by over 500%. Among many categories, home appliances ranked first with a sales volume of 132.4 billion yuan, accounting for 15.7% of the market share. Following closely were mobile phones, digital products, and clothing categories, with sales volumes of 120.1 billion yuan, 118.4 billion yuan, respectively, holding 14.2% and 14.0% of the market share.

JD.com stated that during the singles' day sales period, over 90% of rural areas in the country had consumers trading in old items for new ones through JD.com. Large-screen televisions became the top choice for trade-ins, with 519 categories of home appliances and household items, including robotic floor sweepers and dryers, seeing a 200% year-on-year increase in transaction value. AI hardware categories such as AI computers and AI smartphones also saw transaction values exceeding 100%. Supermarket blind boxes were selected by consumers as the highlight of this year's JD.com singles' day sales, with a total turnover of bundled supermarket sets increasing by over 50% year-on-year.

Tmall's november 11 shopping festival-related fashion brands continue to experience explosive transactions, by the deadline of November 11 at midnight, 7062 fashion brands doubled their transactions year-on-year, with 66 brands surpassing a billion, showing strong growth.

Tmall data shows that as of midnight on November 11th, 34 3C digital brands including Apple, Xiaomi, Huawei, OPPO, Sony, Fujifilm, DJI, Nintendo, VTech, and Digital China broke the billion mark in transactions during the singles' day sales. Over 1100 brands such as vivo, iQOO, Machinist Revolution, and Shadow Stone saw a doubling in transaction volume year-on-year. Among them, vivo's mobile phone transactions grew by 190% compared to last year's singles' day, and DJI brand transactions increased by over 100% year-on-year.

Xiaomi announced that as of 11:59:59 on November 11th, the total payment amount across all channels on Xiaomi's singles' day sales exceeded 31.9 billion yuan, setting a new record for Xiaomi's annual major promotions.

Taobao breaks billion transaction volume in live streaming rooms, setting a new record with quality live broadcasts becoming a new trend.

According to Wall Street News, as of midnight on November 11th, the number of live streaming rooms on Taobao that broke the billion transaction volume mark exceeded 100, reaching a historical high, with 32 of them showing a growth rate exceeding 100% year-on-year. In addition, this year's singles' day on Taobao saw a significant year-on-year increase in total transaction amount and number of purchasing users.

In this year's singles' day sales, consumers and brands have fully shifted towards quality live streaming rooms on Taobao. Professional anchors are gaining momentum, with many top influencers achieving over a billion in sales for the first time during singles' day; Official brand product sales are significantly booming, with CRD Keladi Tmall flagship store, vivo mobile official flagship store, and other flagship stores all seeing a several-fold increase year-on-year.

Data from Douyin also reflects the new trend of brand live streaming. Third-party data shows that from October 18th to November 10th, in the afternoon, this year's Douyin singles' day promotion top influencers list (the top five are Xinjiang He Tian jade Lao Zheng, Yu Hui Tong Xing, Guangdong couple, Jia Nailiang, Xiao Bei jewelry. The sales of the top four exceeded 0.7 billion yuan each, forming a distinct leading advantage. Making friends, East Buy did not make the top ten on Douyin's total sales list.

According to Whale News, one of the biggest changes in Douyin's singles' day this year may be the absence of some super headliners, such as Crazy Xiao Yangge due to incidents like the Meicheng mooncake. Industry analysts believe that under the backdrop of increasingly rational consumers, both the influence of channels and anchors themselves are exponentially collapsing. The enthusiasm from merchants paying for top anchors is waning. At the same time, many domestic products have transitioned from reach broadcasting to self-broadcasting, with self-broadcasting accounting for close to seventy percent. Therefore, the decline in rankings of live streaming rooms like Making Friends, East Buy is normal.

The Economic Observer quoted industry insiders analyzing that this year's singles' day is a clear turning point. Compared to the influencer-driven live streaming and sales model, the quality live streaming model with professional anchors and brand products working together is expected to become the industry mainstream.