Home Business China promotion Day “Double 11” or “1111” shopping season provides assistance to global economic recovery
China promotion Day "Double 11" or "1111" shopping season provides assistance to global economic recovery

China promotion Day “Double 11” or “1111” shopping season provides assistance to global economic recovery

by YCPress

It is another year’s “Double 11”, The annual national shopping event, many people hope to take advantage of this day’s big promotion, buy good quality and cheap goods. Affected by Coronavirus Pandemic, this year’s “Double 11” has a special significance and has become a transaction “carnival” actively participated by consumers, e-commerce platforms, brand owners, physical stores and other industries.

Just after 0:00 on November 11, China’s major e-commerce platforms received a large number of online orders. The e-commerce business departments supported by content platforms such as Alibaba, JD.com, Pinduoduo, and Douyin, a few minutes after the opening of the shopping event Inside, they handed over a dazzling report card. This phenomenon is regarded by foreign media as a barometer showing the recovery of China’s economy and consumption after the epidemic.

According to Tmall data, from 0:30 to 0:30 on November 11, Tmall’s real-time transaction volume exceeded 372.3 billion yuan, surpassing last year’s full day of 268.4 billion yuan, setting a new record again. JD.com announced that the cumulative amount of orders placed during the first 9 minutes of “Double 11” exceeded 20 billion, creating another milestone in new consumption.

The relevant person in charge of Cainiao Logistics said that the company is using more than 3,000 charter planes and long-distance cargo ships to transport goods. The company will also use more than 10,000 mobile lockers to allow customers to pick up packages without contact.

Double 11″ can be regarded as a sign of Chinese consumers’ willingness to consume

Reuters reported that since 2009, China’s “Double 11” has gradually developed into the world’s largest online sales event. The alleviation of China’s Coronavirus Pandemic has promoted economic recovery, and China’s “Double 11” large-scale shopping event will greatly promote the recovery of consumption and increase the sales of various e-commerce platforms. This year’s “Double 11” shopping festival can be regarded as a sign of Chinese consumers’ willingness to spend.

Forbes website reported that China’s economy has recovered from Coronavirus Pandemic and is currently operating normally. According to the news released by the National Bureau of Statistics of China, China’s GDP grew by 4.9% in the third quarter, higher than the first and second quarters. At the same time, there are frequent good news in e-commerce sales and consumer behavior. More importantly, China’s “Double 11” shopping activities also provide assistance to the global economic recovery. Due to the strong consumer demand in the Chinese market, many overseas brands have taken advantage of the Chinese market to usher in a turning point, and the global supply chain has “moved”.

The British Broadcasting Corporation BBC reported that this year’s “Double 11” in China has special significance for consumers and the entire Chinese economy. Analysts believe that shopping demand suppressed by the epidemic will inevitably break new transaction records. At the same time, “seizing the Chinese market” has increasingly become the consensus of many overseas brands. They have made every effort to prepare for the war, and they will not hesitate to dispatch various capacity to cross-border cargo, and on November 11, they will give consumers preferential treatment.

“Double Eleven” started sales to a record high

“South China Morning Post” website reported that Coronavirus Pandemic has promoted the expansion of online shopping groups, especially driven by this year’s “live streaming”, online shopping has become a driver of domestic consumption.

The US “Ad Weekly” reported that China’s “Double 11” shopping event marked the return of Chinese social life to normal. With the arrival of “Double 11”, major brands have doubled their bets on the world’s largest shopping festival.

E-commerce live broadcast has become standard for major brand marketing

According to US Consumer News and Business Channel CNBC, as “live streaming” has become the core method of online shopping marketing, live broadcast anchors play a vital role in stimulating consumer interest in shopping and promoting sales.

A survey of 2029 Chinese consumers between September 30 and October 6 by the American investment consulting company Ariel Platinum found that two-thirds of them said they had purchased products through e-commerce live broadcasts in the past year. Some American brands that saw the value of e-commerce live broadcasts made their debut at this year’s “Double 11” shopping event, using live broadcasts to promote their products.

A cleaning products production company headquartered in Michigan, the United States participated in the “Double 11” shopping event last year. This year, the company conducted a 24-hour live broadcast on the Chinese online shopping platform. Marcos Bissell, the company’s head of Asia, said that through live broadcast, sales have increased significantly.

“It’s amazing,” Bissell said. “China has found a way to monetize social media faster. Compared with social media in other countries, China is undoubtedly in a leading position.”

Domestic brands are increasingly favored by Chinese consumers

In terms of brand choice, Chinese consumers are increasingly inclined to domestic brands. According to a survey of 2029 Chinese consumers by Arrow Investment Consulting, 66% of Chinese consumers said they would buy domestic products on the “Double 11” day. This ratio has increased significantly from last year.

The person in charge of Tmall’s import and export business said that this year, Tmall has added many high-quality domestic brands, including food, beauty products, and medical health products. These new brands have seized the opportunity of e-commerce live broadcast and attracted a large number of Chinese consumers. Attention.

Deborah Winswig, CEO of Corset Research, said that in China, consumers are willing to follow the advice of professionals in various industries before shopping. For example, through e-commerce live broadcasts, farmers have also become influential. Consumers are more willing to buy natural crops and food from farmers on live broadcast platforms.

Winswig also stated that Chinese consumers are accepting technological innovation much faster than in the West. Technology changes lives. This is the best interpretation of the change in Chinese lifestyles.