Double 11’s e-commerce war is trillions of GMV. Is the spending power of the last payer so strong？

Editor’s Note: This article comes from WeChat WeChat official account "Tech Planet" (ID:tech618), and is written by Wang Huiying and published by 36Kr with authorization.

The annual double 11 Carnival Shopping Festival has come to an end. Different from previous years, this year’s double 11 has changed from "Singles’ Day" to "nunchakus", and it has been warmed up since October 20th, and the consumption enthusiasm of the "tail-payers" has also come to the fore.

In this year-end e-commerce exam, Tmall’s final turnover was 498.2 billion yuan, while JD.COM double 11’s turnover was 2,715 yuan. Pinduoduo and Suning didn’t announce the final turnover. Together with the turnover of live broadcast platforms such as Aauto Quicker and Tik Tok, the turnover of this double 11 shopping carnival should have exceeded one trillion yuan.

Around November, the just-popular joke about "migrant workers" was still spreading everywhere. After the double 11, people could not help feeling that people’s spending power was so strong after they changed from migrant workers to last payers.

Just after 0: 00 on November 11th, Tmall announced 583,000 transactions per second, compared with 544,000 transactions per second in 2019, and from 0: 00 on November 1st to 00:30 on November 11th, the turnover in double 11 reached 372.3 billion yuan. This figure is 1,457 times that of double 11 for the first time in 2009, and it also exceeds the total turnover of 268.4 billion in double 11 last year.

From 0: 00 on November 1 to 0: 35 on November 11, Tmall double 11’s global carnival season has reached 342, with the turnover of 342 brands including Apple, L ‘Oreal, Haier, Estee Lauder, Nike, Huawei, Midea, Lancome, Xiaomi and Adidas exceeding 100 million yuan, and the turnover of 13 brands exceeding 1 billion yuan.

In terms of scale and coverage, Tmall predicts that there will be 800 million consumers, 2.5 million brands and 5 million merchants participating in this year’s double 11, which is also the highest in history.

Finally, as of 24: 00 on November 11th, the turnover of Tmall double 11 during the global carnival season in 2020 exceeded 498.2 billion, and the cumulative turnover exceeded 450 brands. Although it did not reach the 500 billion predicted by the outside world, it still ranked first in the industry.

JD.COM, another e-commerce giant, is not to be outdone. On October 21st, the pre-sale of "JD.COM 11.11 Global Love Season" officially opened. On the evening of the 11th, JD.COM announced that the accumulated order amount from 0:00 to 0:09 on November 11th exceeded 200 billion yuan. From 0: 00 pm to 14: 26 pm on November 1st, the cumulative amount of orders placed by JD.COM in the 11.11 global love season exceeded 243.1 billion yuan, once again setting a record.

According to the big data of JD.COM, only 6 seconds after 0: 00 on November 11th, JD.COM’s live broadcast broke 100 million yuan; Eleven minutes after 0: 00, the order amount of JD.COM’s own brand exceeded the whole day of last year.

By 24: 00 on November 11th, the total turnover of JD.COM Double Eleven was 271.5 billion yuan, which once again set a new record since JD.COM participated in double 11 activities.

Compared with Tmall and JD.COM, the industry leaders, Suning is a "stupid bird first flies" model.

As early as September 28th, Suning kicked off the double 11. Suning designated the "National Day Double Festival" from September 28th to October 8th as the time point to promote the opening of the Double Eleventh National Congress, and introduced three major policies, namely, 5 billion subsidies, J -10% money-saving plan and price guarantee extension to November 12th, and started the subsidy war ahead of schedule.

On the evening of the 11th, Suning.cn announced that after the 11th Double Eleven was fully opened at 0: 00, it only took 19 minutes, and the GMV of Suning’s entire ecological channel (including Suning.cn, Suning.cn Tmall flagship store, Suning.cn Super Buyer’s live broadcast room and Suning store broadcast) broke 5 billion. Although the figures are not so bright, we must know that Suning’s own users are not as good as the first two.

From 0: 00 on November 1st to 1: 00 on November 11th, the online order volume in Suning.cn increased by 72% year-on-year, and the cumulative sales of live delivery in the 1110 Super Buyers’ live room exceeded 100 million.

At 0: 00 on November 12th, Suning.cn released the full battle report. From November 1st to 11th at 23: 59, the online order volume of Double Eleven increased by 75%. During the "Double Eleven" period, Suning.cn’s subsidy of 10 billion yuan went offline first, and the order volume of Carrefour’s home service increased by 420% year-on-year, with a timely performance rate of 99% in one hour, and the fastest delivery time took 9 minutes.

Cheng Li, Alibaba’s partner and chief technology officer, said at the Tmall double 11 Conference: "Internally, we think that 11 years is a reincarnation of double 11, so double 11 has gone through a complete reincarnation in the past 11 years, and this year is the beginning of the new double 11."

This year is the twelfth year in double 11. Each platform has changed from competition for customers to stock game, which makes every effort to retain users’ consumption, for fear that the subsidy is small and the gameplay is outdated. Double 11 is no longer simply a 50% discount across the board.

This year, double 11 changed the one-day carnival mode in previous years, and divided double 11 into two "sales periods". As a result, the cycle of the platform has been lengthened, and the front of consumers has also been lengthened. From the first wave of deposit pre-sale on October 20 to the dust settled on November 11, some people worked hard to build cats, while others worked hard to get coupons. Full discount coupons, store coupons, share coupons, repurchase coupons. ……

JD.COM double 11 started on October 21st and lasted until November 11th. There were two waves of pre-sales, and the final payment was paid on November 1st and November 11th, respectively, for 22 days. Tmall and JD.COM have the same rhythm, and the sales climax is not only November 11th, but also November 1st-3rd. In addition to the "10 billion subsidy", Pinduoduo has extrapolated the cross-store cash back, which is similar to full reduction, from October 21 to November 14; Suning.cn, on the other hand, entered the state of double 11 on September 28th, and added four days of payment time from October 31st to November 3rd.

The operation was as fierce as a tiger, and the consolidated payment was stupid. On the 11th of November, "Angry by kotex" boarded the hot search in Weibo, because the carnival price of kotex, a female nursing brand, was "buy two sets, and the second one is half price", but on the day of the event, consumers were restricted to purchase one set and could not place an order for the second one, which led to many people panicking at the critical moment of race against time, and the full reduction activities calculated in advance could not be used as scheduled.

In everyone’s eyes, double 11’s failure to stay up all night shopping is tantamount to blood loss, and not spending money means losing at the starting line. Double 11’s impulsive consumption starts with the down payment and ends with the final payment. Many of the goods that double 11 grabbed quickly during the pre-sale period appeared on the second-hand e-commerce platform. No matter idle fish or turning around, there are not a few resale commodities associated with double 11. At the same time, the rule in double 11 this year is that the deposit can only be refunded after paying the final payment, and the refund entrance will not be opened until 0: 00 on November 12th.

Starting from 2019, one of the highlights of double 11 is live broadcast with goods. This year, on the one hand, the live broadcast of the e-commerce platform has continuously set a new record, and on the other hand, social and short video platforms have continuously tapped their own private domain traffic and realized it through live broadcast, trying to compete with the e-commerce platform.

Starting from the evening of October 20th this year, Viya Li Jiaqi and other head anchors started the e-commerce live broadcast war in double 11. On this day, Li Jiaqi and Viya received 162 million and 148 million cumulative views in their respective live broadcast rooms, and their sales that night totaled 9.19 billion yuan.

According to the data of Taobao live broadcast at 23: 00 pm on the 11th, the proportion of self-broadcast GMV by merchants exceeded 60%, the coverage of live broadcast merchants increased by 220%, Taobao live broadcast led to more than 4 million jobs, and the cumulative time of Double Eleven live broadcast was as long as 1660 years. Viya, Li Jiaqi and Sydney are among the top three in the real-time ranking of people with goods. From November 1 ST to 12 noon on November 11 th, Taobao Live gave birth to 28 live broadcast rooms with a turnover of over 100 million yuan.

JD.COM, on the other hand, adopted the mode of live broadcast of the party. On the one hand, it was "JD.COM double 11 Live Night", on the other hand, it led more than 300 stars into the live room. According to the data, during the 11.11 live broadcast in JD.COM, more than 500 CEO live broadcasts covered more than 10 categories, such as household appliances, communication digital, fashion home and so on, with goods exceeding 100 million in 10 seconds before November 11th.

This year’s live broadcast carnival in Suning invited stars to conduct 13 live broadcasts, with a total GMV of over 800 million, a total short video broadcast of over 200 million and a live broadcast audience of over 120 million.

At the same time, this year, double 11 "shook fast" and entered the big battle of selling goods against the benchmark e-commerce platform.

Nowadays, the daily life of Kuaishou Vibrato has exceeded 100 million. Tik Tok owns Luo Yonghao and Aauto Quicker owns Simba. According to an industry estimate, the transaction volume of e-commerce in Aauto Quicker this year is 250 billion yuan, that of e-commerce in Tik Tok is 200 billion yuan, and that of Taobao Live is 450 billion yuan, equivalent to the sum of Aauto Quicker and Tik Tok.

During his stay in double 11, Aauto Quicker launched four major activities, with a total investment of 10 billion yuan. According to the data, Xin Youzhi, the head anchor of Aauto Quicker and the founder of Xinxuan, broke 500 million in one-hour live broadcast in double 11, and the sales on that day reached 1.88 billion yuan, setting a record for his personal e-commerce live broadcast.

Nowadays, live broadcast with goods has become an e-commerce craze and a battleground for military strategists. The data shows that in the first half of this year, the number of live e-commerce broadcasts nationwide exceeded 10 million, the number of live e-commerce users reached 309 million, and the number of viewers exceeded 50 billion. It is expected that the scale of e-commerce live broadcast will enter the trillion era by the end of this year.

This year, double 11’s segmented play was a great success, creating a miracle. The tasks of each platform have been completed, and the merchants have also waited for the final score.