Consumer rights

“Double-11” buying frenzy matures with over 82.1 billion yuan in sales according to NielsenIQ analysis


BEIJING, 25 November 2021 / PRNewswire / – This year’s ‘Double-11’ shopping carnival saw further changes in duration, channel preference and consumer categories from previous years, according to the latest study from leading NielsenIQ of providing, an unbiased view of consumer behavior, on a global scale.

This year’s carnival sees a change in stock market volume but a conscious effort to encourage rational buying and China E-commerce platforms are leading the way as they seek to create a more sustainable development of the e-commerce environment.

Established Chinese brands such as T-Mall and JD.com continue to dominate this year’s shopping festival transaction volume on “Double-11”.

However, application developers of short, fast videos such as Kuaishou and Douyin are emerging as powerful new brands in e-commerce, creating “multi-master competition”. Between established brands and emerging media players.

The total value of the T-mall “Double-11” transaction was 540.3 billion yuan ($ 84.56 billion), and the transaction value of nearly 700 small and medium brands has grown from millions to tens of millions. JD.com broke the record by placing 349.1 billion yuan some orders during the shopping spree. The number of branded merchants in Kuaishou increased 391% year-on-year, and orders for branded products increased 350% year-on-year. On the other hand, Douyin’s e-commerce data reveals consumer enthusiasm for “Chinese fashion”, the number of domestic products in the popular product list accounting for 87.5%, and its live broadcast on the e-commerce reached 39.5 billion visits.

Nancy song, Managing Director of NielsenIQ China, comments that the live broadcast performed well in terms of sales during this year’s “Double-11” shopping festival, reaching a new high with 82.1 billion yuan in sales during the first stage of pre-sales, justifying the investment of major e-commerce platforms that upgraded live streaming, tap into the brand’s pre-sale referral traffic.

“After 13 years of rapid growth, the shopping festival has gradually matured, and we are witnessing the emergence of the ‘rational consumer’. When it comes to the future development of e-commerce, improving the shopping experience ‘purchasing is the key to e-commerce platforms to improve their core competitiveness,’ Song said.

For more information on this year’s preview of Double-11, contact NielsenIQ experts.

ABOUT NIELSENIQ

NielsenIQ is the leader in providing the most comprehensive, unbiased view of consumer behavior, globally. Powered by a revolutionary consumer data platform and powered by rich analytics capabilities, NielsenIQ enables bold and confident decision making for the world’s leading consumer goods companies and retailers.

By using comprehensive data sets and measuring all transactions equally, NielsenIQ gives customers a forward-looking view of consumer behavior to optimize performance across all retail platforms. Our open philosophy of data integration results in the most influential consumer data sets on the planet. NielsenIQ provides the full truth.

NielsenIQ, an Advent International portfolio company, operates in nearly 100 markets, covering over 90% of the world’s population. For more information, visit www.nielseniq.com.

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Insights Article 1:

Title: “Double-11” sees the emergence of the “rational consumer”

Author: Barbara lee, Vice President of E-Commerce Research, NielsenIQ China

We are now witnessing the transformation of the “Double-11” shopping festival into a shopping carnival that will become the new normal.

Now that he is in his thirteenth year, Double-11 is still evolving, but this year we are witnessing the emergence of “rational consumption”.

Instead of pursuing GMV, all platforms have returned to stay true to their original aspiration and establish their own identity to build a sustainable development of the e-commerce environment. Policies issued by ministries and commissions called for rationality during the “Double-11” festival to avoid irrational and impulse buying. The main attributes of consumers focus on the importance of quality development, better customer services, a more user-friendly business environment and a healthier business ecosystem.

According to the NielsenIQ report, in response to from China Carbon neutral development goal, reducing green energy emissions will be the main theme of the “Double-11” this year. To carry out the “14th five-year plan (2021-25)” for the development of e-commerce and guide e-commerce enterprises to actively adapt to green development, all major platforms focus on green energy concepts and low carbon in this year. By taking measures such as the use of green coupons and packaging recycling, consumers can receive a real ‘carbon reduction bill’ after their purchases, which provides a ‘green’ basis for the entire market. e-commerce market within the next six months.

China has further strengthened its supervision on different types of platforms. Meanwhile, these platforms have also significantly improved their own operating requirements. All of these efforts are aimed at promoting the healthy, orderly and high-quality development of the e-commerce industry and achieving the symbiosis and win-win situation between business and industry while protecting the rights and interests of consumers. .

Insights Article 2:

Title: Generation Z Comes Into The Scene, Becoming A New Potential For Future Consumption

Author: Nancy song, Managing Director of NielsenIQ China

The latest study from NielsenIQ found that Generation Z (consumers born between the mid-90s and early 2010s) are the main consumers of “Double-11”, is on the increase. This group, with a large population and considerable purchasing power, is now seen as a super consumer group that brands need to focus on.

According to NielsenIQ, Gen Z accounts for about 19% of from China population, or 260 million people. About 55% of Gen Z are still students, with an average monthly spending money of almost 1,680 yuan.

Although they have acquired good drinking habits, they are still in a period of mental cultivation. Taking advantage of their higher purchasing power and in line with the information age on networks, Generation Z, who grew up with digital information technologies, instant communication devices, smart phones and other products, is now gradually releasing its power to consume.

During this year’s “Double-11” shopping spree, Gen Z showed off their needs and featured consumer characteristics. Among the most representative group, Generation Z college students, most have shopped on the “Double-11” because of the low prices and new features, of which 86.9% are attracted to the competitive price of products. In terms of product categories, they focus on beauty makeup, personal care, food and clothing, and 51% of them spend almost all of their monthly pocket money (1,680 yuan on average) on the “Double-11” shopping spree.

Gen Z also has a different take on “Double-11” sales this year, according to NielsenIQ. Although adept at using cell phones, this group has little tolerance for complex gameplay and excessive hype. In their view, the main problems with this year’s “Double-11” are overly complicated promotion methods, too much publicity and publicity push, and misleading prices. The younger group is also said to prefer participating in less complicated promotions, such as full discounts and purchase allowances. This means that there are opportunities for brands to simplify promotion and pricing methods.

Implications for brands

Brands can carry out “Double-11” marketing, we can infer this year’s new “Double-11” consumption characteristics. In this year’s “Double-11”, live streaming e-commerce showed a clear trend of strong growth; Global cross-border B2C & B2B still has many dividends; Chinese fashion and international brands have both made excellent achievements. Commerce with a high price per transaction and exceptional non-traditional categories is starting to make significant strides in online commerce. Brands need to focus on these aspects and improve their digital capabilities, which can be critical to sustaining continued growth and leading to the success of the annual “Double-11” shopping spree.

SOURCE NielsenIQ

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