Though neither Tmall nor JD.com have yet to announce this year's double11 GMV, the domestic shopping fever continued.
As the 14th Tmall Double11 ended last week, the online marketplace showed a more diverse sales competition. The latest report released that the overall GMV from all e-commerce platforms surpassed 151 billion EURO (1,115 billion RMB), increased by 13.7% YoY. Accumulated GMV of traditional e-commerce platforms represented by Tmall, Jingdong and Pinduoduo hit 127 billion EURO (934 billion RMB), with a 2.9% YoY growth rate. Newer streaming channels such as Douyin, Diantao, and Kuaishou garnered around 24 billion EURO (181.4 billion RMB), impressively up 146.1% YoY.
This year's consumption trends show household electrical appliances, consumer electronics, and clothing topped the category, accounting for 15.7%, 14.3%, and 13.9% respectively among all the ten categories.
As the mature marketplace amid the pandemic and consumption habits shift, customer retention and good storytelling centred around consumers are the main focus for most of the marketplace of this year's Double 11. Major e-commerce platforms are now more focused on existing customers and on triggering the buying power of mid-to-high-end consumption customers. To achieve these goals, diversified customer experiences and value-added products become more pivotal for the platforms and brands in this highly competitive business environment.
Source: https://mp.weixin.qq.com/s/xun5VO70HzZQ5eOF4cOXjg
