The 2024 November 11 shopping festival-related promotions on major e-commerce platforms have officially ended.

It is worth noting that this year's november 11 shopping festival-related has seen an expanded battlefield and more changes. The traditional Tmall november 11 shopping festival-related Gala has been canceled, along with the discontinuation of the media live broadcast hall that has lasted for many years; On november 11th, jd.com also made a change from the high profile of previous major promotions, with the 'cat-dog battle' of previous years turning into 'cat-dog cooperation.'

From an industry perspective, new platforms represented by Douyin, Kuaishou, and Xiaohongshu are gradually changing the e-commerce landscape. Due to the impact of live e-commerce, the appeal of major promotions to consumers continues to weaken; the increasing online traffic and operating costs pose significant pressure on merchants and brands. Even in this year's november 11 shopping festival-related, Tmall candidly admitted to the media that november 11th has become a day that people both love and hate, filled with ridicule, complaints, and countless imperfections.

Undoubtedly, the emergence of november 11 shopping festival-related has led to the development of a series of digitalization, cloud computing, logistics, AI, and other basic infrastructure, driving the revolution of retail and csi consumer 360 index. It is still considered by many businesses and platforms as the 'best testing ground' to adjust their operational mindset and review their strategies, and remains an important stage for new brands and companies to achieve growth.

But as november 11 shopping festival-related has transitioned from 'Little Sweet' to 'Madam Cow,' Tmall and jd.com will need to continue exploring new major promotion methods.

'Cat-Dog Battle' to 'Cat-Dog Cooperation,' what's next for e-commerce platforms?

Taobao Tmall and jd.com have been the main 'battlefields' of the annual november 11 shopping festival-related promotions. This year, the competition between the two sides has evolved to a certain extent into a 'cooperative' mode. On the eve of november 11 shopping festival-related, Alibaba, jd.com, Tencent, and Meituan successively announced the opening of multi-dimensional interconnection and communication. This strategy indeed stimulated consumer activity during this year's november 11 shopping festival-related promotions.

According to the analysis and research data of Analysys, this year, the competition among different platforms is not only a 'confrontation' in terms of preferential intensity and marketing strategies, but also a new common theme focusing on improving user experience and attention to merchant services. At the same time, the sales cycle of platforms has been extended and advanced, without dispersing the user activity in the mid to late stages of the platforms. During this year's november 11 shopping festival-related, taobao, $JD.com (JD.US)$ 、$PDD Holdings (PDD.US)$the daily active users (DAU) have both significantly increased.

JD.com data shows that as of 23:59 on November 11th, the number of shopping users during the platform's major promotions increased by over 20% year-on-year, and the live stream sales orders on 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, while that of over 30,000 small and medium merchants increased by over 2 times year-on-year.

This year, nationwide subsidies for trading old appliances for new ones have significantly boosted JD.com's earnings. During the platform's major promotional period, the turnover of 519 home appliance and home furnishing categories, including sweeping robots and dryers, increased by 200% year-on-year, while the turnover of multiple AI hardware product categories such as AI computers and AI phones increased by over 100%. In addition, turnover of gaming CPUs, headsets, and sports cameras all increased by over 100% year-on-year.

Tmall's November 11th sales report also highlighted the activity of users and merchants in transactions. As of 24:00 on November 11th, Tmall had 589 brands with turnover exceeding one billion yuan throughout the entire cycle, a year-on-year growth of 46.5% over last year, breaking historical records. Among them, 45 brands including Apple, Haier, Midea, Xiaomi, Nike, Wuliangye, saw their turnover exceed 1 billion. Trendy brands like MiHoYo, makeup brands like Tom Ford, and Colgate entered the 'billion-yuan club' for the first time on November 11th.

In terms of user base, the number of Taobao 88VIP members continues to expand, with a continuous increase in consumer willingness, providing strong impetus for brand breakthroughs. As of midnight on November 11th, the number of orders from 88VIP members increased by over 50% year-on-year. According to previous data disclosures, the number of Taobao 88VIP members had exceeded 42 million in the first half of this year.

Furthermore, the volume of orders for Taobao's 'Hundred Billion Super Subsidies' exceeded 0.15 billion, with a 50% year-on-year increase in the number of orders. Under this activity, over a hundred popular single products from top brands achieved turnover exceeding one billion.

Also active were Taobao's live streams. As of 24:00 on November 11th, the turnover of Taobao's live broadcasts exceeded one billion yuan, with 119 live streaming rooms achieving this milestone, setting a new historical high. Among them, 49 rooms with turnover exceeding one billion saw a year-on-year growth rate of over 100%. This year's overall turnover and number of purchasing users in Taobao's live broadcasts during November 11th have achieved significant year-on-year growth.

Traditional anchors have made a comeback with more presence from MCN institutions.

Looking at this year, november 11 shopping festival-related is no longer just about top players like Taobao, Tmall, and jd.com, as the share of top anchors and live e-commerce is increasing.

Looking back at the beginning of this year's november 11 shopping festival, the attention and discussion in Li Jiaqi's live broadcast room once again rose. On the first day of pre-sale, multiple beauty and skincare products were sold out in the live broadcast room. The gimmick of distributing 0.5 billion yuan worth of red envelopes at the beginning of the pre-sale in the live broadcast room also became a focal point for many consumers' attention and discussion.

As the november 11 shopping festival came to an end on November 11th, Li Jiaqi's live broadcast room featured nearly 1,700 participating brands, an increase of nearly 20% in the number of brands compared to the previous year. The total number of product links exceeded 4,000, covering almost all consumer categories. Domestic brand products accounted for over 60% of the total.

Compared to the high-profile "going out of the circle" by Li Jiaqi,$EAST BUY (01797.HK)$Dong Yuhui showed a trend of "silent cultivation".

According to data from the third-party platform Chan Mamai, during the november 11 shopping festival-related (October 18th to November 11th), the top 5 sales ranking of anchors were a couple from guangdong, Xinjiang Hetian Yulyu, Jia Nailiang, Along with Hui, and Liu Yuanyuan.

Compared to other anchors who took breaks during the long promotion period, Along with Hui maintained full attendance throughout the promotion. According to a related person from Along with Hui responding to the media, during the promotion period, its team did not overly focus on the platform's promotional pace but maintained a steady response.

According to the New Consumer Daily observation, Dong Yuhui maintains a high attendance of 3-4 days per week and appears in many category product live broadcasts. Looking at the daily live broadcast data, Along with Hui did not have a single day with sales exceeding tens of millions during the promotion period. Even when Dong Yuhui appeared, the highest daily sales figure was often between 50 million and 75 million yuan. The account's daily sales figures were concentrated between 10 million and 25 million yuan, steadily ranking among the top five in platform sales.

East buy also maintained full attendance during the promotion, and Yu Minhong also conducted several special live broadcast product sessions on the account. On November 4th, Yu Minhong and Dong Mingzhu teamed up for product sales in the east buy live broadcast room. From visiting the Gree factory to sitting down for a conversation in the live broadcast room, during the november 11 shopping festival period, national subsidies overlapped with corporate discounts, bringing a large viewership and transaction volume to east buy. On the day of the broadcast, the east buy live broadcast room ranked among the top five in platform sales and even temporarily topped the Douyin hot selling list.

Therefore, November 4th is the day with the largest daily sales volume during the promotional period of east buy. Data from Chanmama shows that the total transaction volume of east buy on that day was 25 million~50 million yuan, while the average daily sales volume during the promotion period was 10 million~25 million yuan per account.

The significant decline in daily traffic and the lack of high-frequency hot topics during the promotion period have caused east buy's account to rank only 19th in TikTok's sales rankings during the November 11 shopping festival, even lower than the 16th ranking of east buy's Beautiful Life Matrix account. It is reported that this matrix account mainly focuses on higher-priced beauty and skincare products.

This year, "Make Friends" live streaming room which ranks in the top 20 of TikTok's sales rooms also ranks 14th in sales. At the same time, "Make Friends" is relatively rare as an MCN institution that has announced multiple times the growth in transaction volume throughout the entire November 11 shopping festival.

As of November 11th, the total GMV of "Make Friends" across all channels exceeded 6.4 billion yuan, a year-on-year increase of 158%, with a total order volume exceeding 7.14 million orders, reaching a new high in the history of the shopping festival. Among them, the GMV of the main account live streaming room on TikTok increased by 63% year-on-year, while the GMV of vertical category matrix live streaming rooms on TikTok increased by 60%, and the GMV of "Make Friends" Taobao live streaming rooms increased by 73% year-on-year.

During this year's November 11 shopping festival, "Make Friends" also introduced many marketing topics. For example, on October 24th, on the occasion of "Make Friends" joining Taobao Live for the second anniversary, Luo Yonghao successfully sold tickets for the 2027 orbital travel spaceship seat under the theme of "Space Travel Ship.

Foshan Yowant Technology stated that this year it is no longer emphasizing data-driven approaches but is focusing on the theme of 'making each IP better.' The company has extended the November 11 period to expand its live streaming scale, with over 150 live IPs completing a total of 1512 live sessions, accumulating over 10,000 hours of live streaming.

According to Foshan Yowant Technology, content innovation of IPs is the key to the success of live streaming. During the November 11 shopping festival, the company leveraged 'content driving sales' to generate a total order volume of over 11.77 million orders for the live streaming rooms, with a total of over 0.195 million products listed. Chinese domestic brands accounted for over 59% of GMV during the first half of the November 11 shopping festival at Foshan Yowant Technology.

Clearly, with the deeper penetration of e-commerce, PDD Holdings' 'low stock price storm' and the expansion of live streaming e-commerce have transformed online shopping from the habit of a few to the daily routine of the vast majority of people.

When consumers can purchase cost-effective products online every day, november 11 shopping festival-related seems to have completed its phased mission. However, for e-commerce companies aiming for high-quality growth, finding the next revolutionary new model with the same significance as "november 11 shopping festival-related" has become the next challenge.

Editor/rice