This year's "Double Eleven" is not the | "the dawn here is quiet" Beijing News column

This year's "Double Eleven" shopping festival, China's major e-commerce platforms once again set a new sales record. Tmall's total transaction volume during the "Double Eleven" period reached 540.3 billion yuan, an increase of 8.45% over last year's 498.2 billion yuan. JD.com's total transaction volume exceeded 349.1 billion yuan, a sharp increase of 28.6% over last year's 271.5 billion yuan. The combined transaction volume of the two alone is close to one trillion, equivalent to the total GDP of a new first-tier city or some small countries in a year.

Compared with the old consumer festivals in other countries such as "Black Friday", the unofficial "Double Eleven" launched 13 years ago is a rising star. However, thanks to China's strong consumer market, "Double Eleven" quickly grew into the world's largest consumer festival and attracted widespread attention around the world.

In the past, "Made in China" benefited consumers all over the world, bringing them a wide range of products at good prices and low prices. Nowadays, "Chinese consumption" has made enterprises around the world rush and flock to it, and everyone hopes to win a place in the historical process of China's consumption upgrading and leading new consumption.

"What did you buy today?"

Unlike previous years' "Double Eleven", this year is the second "Double Eleven" during the new crown pneumonia epidemic, but consumers' enthusiasm for purchase has increased unabated. Whether it is the streets or the workplace, everyone is talking about not "did you buy today", but "what did you buy today".

While many countries and regions around the world are still facing the problem of weak consumption due to the impact of the epidemic, the impressive results of "Double Eleven" highlight the resilience and vitality of China's consumer market, and also highlight the implementation and initial results of China's domestic and international dual-cycle economic development strategy.

What are the changes in this year's "Singles' Day" compared with previous years? In addition to paying attention to how much the merchants are selling, we also need to see what they sell, who is selling, how they are selling, and where they are selling. At the same time, we also have to look at who is buying and what from the consumer side.

Tap into new consumption potential

In the hot brands and hot categories of "Double Eleven", we have seen more Chinese enterprises and domestic brands, and "New National Tide" has increasingly become the new favorite of e-commerce consumption. Consumers are no longer keen to blindly pursue overseas brands, but are becoming more and more confident in Chinese brands. Whether it is the sales of old brands or new brands, they have been greatly released in the "Double Eleven", and many domestic brands have easily exceeded 100 million as soon as they are launched.

In the hot products of "Double Eleven", the elements of consumption upgrading and new consumption are very significant, and the good life it brings is also about to come out. High-tech smart products are sought after, and "black technology" products such as smart homes and wearable devices have won the favor of more and more people, making the technology content of consumption stronger and stronger. In addition to physical products, service products such as cultural tourism, paid knowledge, and leisure services have also been explosively increased, promoting the consumption level from material enjoyment to spiritual pursuit.

At the same time, consumption has led to the coordinated development of a large number of related industries such as manufacturing, logistics and warehousing, and commercial services, so that China continues to maintain economic growth. In particular, the new business model represented by live streaming with goods has increasingly become the mainstream of "Double Eleven", and the proportion of consumption in the total economic volume has continued to increase.

Science and technology help the consumption ecology to improve

The consumption data of "Double Eleven" shows that the problem of unbalanced and insufficient consumption between different regions and different age groups has been significantly alleviated. The e-commerce consumption gap brought about by the digital divide is accelerating, and the e-commerce consumption in the central and western regions and rural areas has increased significantly, and the elderly and other related groups are also sharing the consumption dividend brought by the consumption festival.

Consumption is often seen as increasing carbon emissions and environmental load, and cheap consumption is also seen as one of the important triggers for global warming. However, "Double Eleven" is also promoting green and low-carbon consumption in all aspects while enterprises sell and consumers buy and buy.

On the one hand, e-commerce companies have helped achieve the "double carbon target" through algorithm upgrades and cost reductions in computing power in the big data center, the use of reduced and recyclable packaging materials, and new energy vehicles. On the other hand, consumers are keen to buy low-energy home appliances, participate in the reduction and recycling of express delivery garbage, and promote green and low-carbon consumption from the consumer side.

Consumers are maturing

"Double Eleven" is not only a carnival for Chinese enterprises and consumers, but also an important festival for enterprises and consumers around the world to pay more and more attention. Cross-border e-commerce is developing rapidly, and overseas consumers are increasingly developing the habit of snapping up Chinese products on "Double Eleven". This has led more Chinese enterprises to go to sea and export Chinese products, which not only benefits overseas consumers, but also drives domestic industrial upgrading.

It is worth noting that how to let consumers consume more rationally and avoid "choppers" and irrational consumption is still a hot topic unchanged in "Double Eleven". How to make e-commerce platforms and enterprises less calculated and routine, and more sincere and rewarded, is still worth paying attention to.

When unfair competition and monopolistic behaviors such as "two choices one" have been curbed to a certain extent, when the Personal Information Protection Law and other relevant laws and regulations have been promulgated and taken effect, the legitimate rights and interests of consumers such as the right to know, the right to choose and the right to welfare have been protected to a greater extent, which also provides an opportunity to promote fair competition in the field of e-commerce and the development of small and medium-sized enterprises.

What has changed in "Double Eleven" is the scale, form, type and quality of China's consumption, and what has not changed is the stability, strength, vitality and resilience of China's economy. "Double Eleven" is not only a carnival of e-commerce consumption, but also an important window to observe and touch the pulse of China's economy. Through the changes and changes of "Double Eleven", we can be more confident in china's economy, which also means that China's economy can drive the global economy out of the downturn and recession caused by the impact of the epidemic as soon as possible.

Beijing News special writer | MA Liang (Research Fellow, National Institute of Development and Strategic Studies, Chinese Min University, Professor, School of Public Administration)

Edit | Li Xiaoxiao

Proofreading | Wu Xingfa