As the clock struck 23:59 on November 11th, the 15th edition of China’s e-commerce battle, famously known as “Double 11” or Singles’ Day, came to a close. This year, major platforms Tmall and JD.com, following last year’s trend, once again chose not to disclose their total sales figures.
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However, their statements revealed positive growth trends with phrases like “overall growth” and “setting new records.”
JD.com announced that by the end of November 11th, the platform achieved record highs in terms of transaction volume, order quantity, and user numbers, with the total viewership of JD.com’s sales live streams surpassing 380 million.
Double 11 is for Top Brands in China
Over 60 brands reported sales exceeding 1 billion yuan, and nearly 20,000 brands saw their transaction volume triple compared to last year, with new merchants experiencing more than a fivefold increase in order volume.
Tmall reported significant growth in both its user and merchant base during the Double 11 period, resulting in an overall increase in order volume and total transaction value. As of midnight on November 11th, 402 brands on Tmall had achieved sales of over 100 million yuan, with 243 of these being domestic brands. Tmall’s 88vip user base also reached a new high of over 32 million, highlighting their “customer-first” strategy.
The National Postal Bureau’s data showed a 23.22% year-on-year increase in courier packages handled between November 1st and 11th, totaling 5.264 billion packages. On November 11th alone, 639 million packages were processed, marking an increase of 15.76% compared to last year and demonstrating the resilience and vitality of China’s economy.
This year’s Double 11 saw JD.com’s sales live streams gain sudden popularity with their promise of “no slotting fees, no talent commissions, just cheaper prices.” JD Retail CEO Xin Lijun emphasized that JD.com’s low prices are always backed by a commitment to quality and service. The strategy aims to ensure profitability for brand manufacturers and the entire supply chain while maximizing consumer benefits.
Furthermore, JD.com reported that the enthusiasm for its Double 11 event was fueled by the continuous recovery of China’s consumer market and the array of low-priced, high-quality products offered by numerous brands and merchants.
For international businesses looking to understand China’s e-commerce landscape, the Double 11 event serves as a clear indicator of the trends, consumer preferences, and the immense scale of the online retail market in China. This event not only showcases the potential for growth and innovation in e-commerce but also provides valuable insights into effective strategies for engaging with one of the world’s largest consumer markets.