The "Double 11" shopping festival ushered in its 15th year.
Red Star Capital Bureau noticed that recently, major e-commerce platforms officially announced the opening of the "Double 11" promotion, compared with the more complex rules and gameplay than before, this year's "Double 11", "low price" seems to have become the common theme of several e-commerce giants. Taobao Tmall set "the lowest price on the whole network" as the core goal, and Jingdong also shouted the slogan of "really cheap, close your eyes and buy", and Pinduoduo played the propaganda of "naïve low price".
In addition, the "pre-sale" system, which has lasted for several years, has also changed in this year's "Double 11", and some e-commerce platforms directly announced that "pre-sale will be canceled and spot will be sold". On the eve of Double 11, open ecology has also become one of the key words, and a few days ago, the news that Taobao shopping can be paid with WeChat Pay caused heated discussions.
Taobao JD Pinduoduo
Compete for the lowest price on the entire network
Approaching its 15th year, Double 11 seems to be back to square one. Compared with the more complex gameplay and rules than before, this time, major e-commerce platforms have played the slogan of "low price, cheap" and competed for the "lowest price on the whole network".
The first is Taobao Tmall. On October 20, Taotian Group announced that the Tmall Double 11 pre-sale will start at 8 p.m. on October 24, the same time as last year. But the difference is that this is also the first "Double 11" after Alibaba's structural adjustment and Taobao Tmall Group's independence.
Data with picture According to Visual China
Red Star Capital Bureau noted that on Double 11 this year, Taotian Group set "the lowest price on the whole network" as its core goal. According to surging news reports, including the three major industry development centers and horizontal departments such as users, platforms, and live broadcasts, they have clearly defined "the lowest price on the whole network" as the core KPI. This is significantly different from the previous emphasis on GMV, daily active users and other metrics.
Specific to the rules of gameplay, this year's Tmall Double 11 has added new rules of "official instant discount" and a new activity of "low price every day" on the basis of cross-store full reduction; Taobao Live will launch a "flash drop" activity, where flash drop goods do not need to be fully reduced, but directly the lowest price.
Mo Daiqing, senior analyst of the online retail department of the e-commerce research center of NetEconomics, told Red Star Capital that with the recovery of the consumption environment, Double 11 as a big promotion festival plays an important role in stimulating domestic demand. Especially for Taotian Group, this is the first Double 11 after Alibaba's transformation, and whether it can play a good first position is related to the future development direction of Taotian Group. Moreover, in recent years, the cost of customer acquisition on e-commerce platforms has been rising, and the competitive pressure of Taotian from Pinduoduo, Douyin and Kuaishou has increased sharply, and the market share has been continuously divided, and it is inevitable to regain some users through Double 11.
Like Taobao Tmall, low prices are also the theme of JD.com's Double 11. Xin Lijun, CEO of JD Retail, said at the meeting that low prices are the genes engraved in JD.com's bones.
In addition, Pinduoduo, which has launched the Double 11 promotion on October 20, also shouted the slogan of "11.11 every day, naïve low price".
For the practice of fighting for low prices between platforms, Zhuang Shuai, a special researcher of the e-commerce research center of Neteconomics and the founder of Bailian Consulting, said that the battlefield of the platform should be in addition to low prices, low prices can attract consumers to the platform, and the final decision is still to place an order, or the quality of supporting services and goods, but now the core competitiveness of each platform is becoming less and less obvious.
Double 11 New Changes:
Abandon routines, cancel pre-sales, and open up the ecology
In the past, Double 11 was criticized for its complicated rules. However, Red Star Capital Bureau noticed that on Double 11 this year, all major e-commerce platforms seem to have the same goal, abandoning routines and directly fighting low prices.
For example, Pinduoduo said that its tens of billions of subsidies launched the "single piece reduction" activity for the first time to ensure that consumers do not make up orders and do arithmetic problems. The person in charge of the Pinduoduo 11.11 promotion project also said that this year's e-commerce promotion is returning to the original intention of the promotion and bringing more benefits to consumers.
On October 20th, the "Douyin Mall Double 11 Good Things Festival" promotion activity was officially opened. Douyin put out the slogan of "not making up for a single order" and launched an official discount.
In addition, the "pre-sale" system, which has lasted for several years, has also changed this year's "Double 11". Red Star Capital Bureau noticed that in the past, the pre-sale of major e-commerce platforms on Double 11 was hot, but it was also criticized, and consumers often complained about the long delivery time of pre-sale goods, non-return and exchange, and no goods were refunded, and even the pre-sale price was higher than the price on the day of the promotion.
But this year's Double 11, the pre-sale system has changed significantly. Jingdong directly played the slogan of canceling the pre-sale and selling in spot.
There is more than one change, on the eve of Double 11, open ecology has also become one of the keywords. According to interface news reports, at the end of September, Alimama and Tencent Advertising officially announced the cooperation, brand merchants in WeChat Moments, mini programs, video accounts and other venues can directly jump to the Taobao APP. Just a few days ago, the news that Taobao shopping can be paid with WeChat Pay caused a heated discussion, according to Beijing Business Daily, Taobao customer service confirmed that this feature is still gradually opening up, and only some users can use it.
In this regard, Mo Daiqing analyzed that the WeChat ecology contains massive resources, and drainage through WeChat is of great significance. First of all, from the platform level, this is conducive to Taobao Tmall increasing exposure, getting more traffic and increasing conversion rates; For merchants, it is conducive to reducing customer acquisition costs, focusing on improving good products and increasing sales; For consumers, this can subtly stimulate their desire to consume and create a promotion atmosphere.
"The interconnection between large platforms is a policy requirement, as well as the need for open cooperation among various platforms, and at the same time conforms to the interests of each platform." For shopping festivals such as Double 11, it can greatly promote consumption and economic growth, allowing consumers to choose merchants and goods more freely on different platforms to buy, merchants can also operate at a lower cost, and platforms can also benefit from this. Zhuang Shuai added.
Red Star News reporter Qiang Ya Mill
Edited by Yang Cheng
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