This year’ double eleven has come to an end, the e-commerce platforms have announced their own double 11 war reports. At 16:31:12 on the 11th, the 2019 Tmall Double 11 trade volume was announced to exceed 213.5 billion yuan, surpassing the 2018 double 11 full-day turnover. In addition, JD.com and Suning also reported a record in their respective major areas.
This is the 11th year of Double Eleven, foreign media also marveled at this year’s double 11 achievements, pointing out that double Eleven “has become an indicator of China’s economic health”; It is no longer just a unique Chinese festival.
Tmall record turnover, video screenshot
Double Eleven sales boom, “become an indicator of China’s economic health”
The Washington Post, CNN, Reuters, The Associated Press, And Bloomberg have reported on this year’s double-eleven sales, after introducing Alibaba, JD.com and other e-commerce platforms, the double Eleven become shopping day and shopping carnival background of the combing.
Foreign media commented that according to transaction data, Double Eleven has apparently become the world’s largest shopping holiday, far more than the Western countries Thanksgiving and “Black Friday” and other shopping holidays.
Screenshot slots on some foreign media reports
After the launch of this year’s Tmall Double 11 campaign, Reuters reacted quickly, following up the deal data in time: $1 billion in 1 minute 08 seconds and more than $12 billion in the first hour.
According to Reuters, the influence of the Tmall Double 11 highlights Alibaba’s leading position in online retailing. Its creation of new consumption continues to do large market increments, continuing to help the Chinese market to unlock domestic demand potential.
At noon on the 11th, Bloomberg quoted data released by Alibaba, noting that Double Eleven is not only a carnival for consumers, but also “one of the indicators of the health of China’s economy” for investors.
In the face of the hot sales data, Richard Wong, head of information and communication technology for The Frost and Sullivan Asia Pacific, told Bloomberg that “consumer spending intentions and economic confidence in China are not increasing”.
By 4 p.m., Tmall sales exceeded last year’s double-eleven all-day total. In response, the U.S. Consumer News and Commerce Channel (CNBC) immediately updated its deal data, stressing that double-Eleven Chinese consumption is still strong this year, and noting that 5G handsets have become the new consumer favorite.
CNBC First Report: Alibaba Deal Breaks Record
Double ELEVEN competition intensified, the e-commerce platform to make a mess of the number
In addition to lamenting record figures, foreign media have also noticed new features this year.
Double eleven has been 11 years old, in order to let consumers more crazy “hands”, the e-commerce platform also makes a lot of solutions, hoping to be able to get a piece of the national carnival, increasingly fierce competition.
As early as the festival came, foreign media focused on China’s Double Eleven, the world’s largest online e-commerce event.
Three days ago, Reuters noted that while Alibaba remains double-eleven’s largest e-commerce platform, its competitors, including JD.com, Suning, Pindo and others, are in the strong position.
To that end, Alibaba kept up with the times, seizing the opportunity of smartphone development and launching a “Mobile-first” strategy. And the focus of sales gradually shifted to younger consumers, focusing on the development of rural areas of the mainland market, in an attempt to further promote transaction growth.
China’s major e-commerce platformmarket share, data: Reuters
“China’s love of e-commerce gave birth to the double ELEVEN”, the same day, the double 11, Reuters also closely followed up, detailing China’s major e-commerce platforms in the competition to promote innovation;
Alibaba and Tencent have launched Alipay and WeChat, boosting the growth of e-retailing.
Many Chinese courier companies, such as Shentong, Zhongtong, Yuantong Express, and Alibaba cooperation (i.e., rookie wrap), make online shopping more convenient than offline shopping. JD.com has its own logistics network.
Retail Gazette, a British retail professional, commented that these are all things that China’s double 11 is worth learning about.
Linda Ralph, vice-president of international operations at Mood Media, a British media company, said: “Many UK retailers ignore the customer experience during Black Friday and just focus on discounting in the hope of attracting consumers. ”
In her view, “the Chinese experience is to focus more on consumer-focused store visits and increased interaction.” ”
Double Eleven no longer belongs only to China
In addition, many foreign media have also noticed the international influence of the Double Eleven Festival, which is no longer just a unique Chinese festival.
About 500 million shoppers are estimated to have flocked to Taobao from China to Russia to Argentina to buy everything from iPhones to cashews, which has become Asia’s biggest annual celebration, according to Bloomberg.
Reuters found that some countries outside China are also offering discounts on Singles’ Day, some not even through Chinese e-commerce platforms. The report cites Amazon as an example, pointing out that the site was advertising the arrival of Double Eleven early.
The double-eleven discount model is also spread to Southeast Asia. CNBC points out that the singles festival culture, which originated in China, has taken root in many Southeast Asian countries and has spawned some local e-commerce platforms to promote the re-development of retailing in the region.
CNBC report screenshot
Patrick Winter, managing partner at Ernst and Young, was quoted as saying: “There is no indication that this year’s Singles Festival will not continue to record records because its market is not only in China, but across Asia.” “