"Double 11" Hot Sale ---New Trend of Consumption

"Double 11" Shopping Carnival is an online promotional day in China on November 11 every year. With the prevalence of e-commerce, Double Eleven has become an annual event in China's e-commerce industry, and has gradually influenced the international e-commerce industry. This year's "Double 11", Tmall claimed an overall increase in orders and total turnover, Jingdong said that turnover, orders, the number of users are record high, Pinduoduo first-tier city user orders increased by 113% year-on-year, the number of orders of Xiaohongshu up to last year's 3.8 times the number of participating merchants up to last year's 4.1 times, and to make friends with a platform turnover increased by 178% year-on-year. 178% increase ...... can see, "double 11" is still inspire consumer shopping enthusiasm carnival, can stimulate consumption vitality. Based on the new changes in consumer shopping "look at the price also look at the quality, look at the word of mouth also look at the demand", by analyzing the "double 11" hot categories, you can understand the new trends in China's consumer market.

Data show that this year's "double 11", GMV (total turnover) the top 5 categories were cell phone communications, major appliances, computer machines, living appliances, residential furniture.

Part of the e-commerce data show that the "consumer electronics home" industry brand GMV increased by 624% year-on-year, the industry track, 3C digital, large appliances, small appliances, furniture and home furnishings category led the growth. Some platform data show that new trends, intelligent home appliances intensive circle, washing and drying sets, dishwashers, sweeping and dragging all-in-one robot sales increased greatly, self-cleaning, ultra-thin embedded, large air volume and other home appliance features popular.

From some data, "big promotion to buy big things" is still a prominent consumer trend, "quality upgrade" is an important factor in the replacement of big things. At the same time, more intelligent home appliances and household products are increasingly welcomed by consumers.

There are also data showing that the top 5 categories with the fastest year-on-year growth in GMV are women's apparel, jewelry, mobile communications, photography and video and travel. "Double 11" promotion period coincides with the advent of the cold wave, women's clothing, especially down clothing consumption ushered in a wave of climax, and goose down clothing category heat continues to rise, becoming a new trend of down clothing consumption upgrade. During the "Double 11" period, Gaofan, which specializes in high-end down apparel, saw its omni-channel garment GMV break 510 million yuan, a year-on-year increase of up to 107%.

It is worth mentioning that the travel category in the "double 11" during the trend of hot, consumers "hoarding tourism" from the trend into the mainstream. Tourism platform data show that the total number of travel merchants participating in the platform's "Double 11" activities increased by more than 120% year-on-year, of which 14 brand store turnover exceeded one hundred million yuan, compared with 5 new 2022.

In addition, a new generation of consumers to interest in consumption, emotional value of consumption, driven by related goods to become a category "dark horse". Data from Yintai Department Store showed that during the "Double 11" period, jewelry, sports and outdoor, coffee and tea, nail and eyelashes, and other subsections of the industry enjoyed high growth, presenting a clear trend of "dopamine consumption".

In addition to the above hot products, supporting small household items and daily necessities have also become a consumer incidental to the "single" hot items, different from the previous simple single, now consumers pay more attention to the practicality of the product. Iron home furnishings such as Wire Fruit Basket, Storage Baskets Organizer, kitchen storage products such as Dish Drying Rack, storage baskets, etc. have also become an important configuration of the home supporting the replacement of products.

The list of "Double 11" hot-selling categories not only shows consumers' desire for a better life, but also highlights the vitality of the consumer market and the new trend of consumption upgrading.

The annual "Double 11" promotion is an opportunity for platforms, brands, merchants and consumers to communicate in depth, but also an opportunity to better understand consumers. After "Double 11", how platforms, brands and merchants can understand consumers' definition and pursuit of a better life, and bring products that meet their needs and improve their lives more efficiently to consumers, may find the answer from the above hot-selling categories.

Of course, the platform has begun to use big data to help merchants prepare goods. With the help of the dynamic integration of the e-commerce market and channel data, they have successfully realized the connection and real-time aggregation of merchant resources and user needs, and can assess and predict what kinds of products will sell well and what kinds of products will be more marketable for different live channels and user characteristics.