As an annual event in the field of e-commerce in mainland China, this year's sales fell by more than two times compared with last year, far lower than the results of Tmall Double 11 in 2022. Still, we can't simply blame it on a decline in consumption levels, but on a combination of factors.
Turnover of 11.11 over the years
First of all, there is a change in the concept of consumption. Singles' Day was originally created to attract consumers with low discounts at a time when online shopping was not yet popular. But now, e-commerce platforms are becoming more and more competitive, and consumers are becoming more rational and pursuing quality services rather than simple price advantages. In addition, the price war on many platforms is intensifying, so that consumers pay more attention to the efficacy and integrity of products when purchasing.
This year's Singles' Day has significantly decreased in popularity
Secondly, the implementation of e-commerce industry norms has also had an impact on Singles' Day. Recently, the government has stepped up its supervision of e-commerce merchants and cracked down on false advertising and counterfeit goods, which has led some consumers to doubt the credibility of Singles' Day. In addition, problems such as logistics delays and poor customer service during this year's Singles' Day have also had a negative impact on consumers.
used to stay up late on Double 11 and place orders quickly
Of course, the general environment is also one of the influencing factors. The international economic situation is not good, especially the impact of the new crown epidemic, and the purchasing power of consumers has generally declined. In addition, the implementation of power rationing policies in some areas has led to a tight supply of goods and logistics disruptions, which has also affected the shopping experience.
Overall, the decline in sales on Singles' Day is not explained by a single reason. In the future, e-commerce platforms need to pay more attention to user experience and social responsibility, and strengthen management norms to meet consumer needs and further improve the activity of Singles' Day.