At midnight on November 12, the 2023 Tmall Double 11 ends. The scale of users and merchants has increased significantly, and the scale advantage has been further expanded, driving an overall increase in order volume and total transaction volume. The brand has achieved the most important business explosion of the year on Tmall.
As of midnight on November 11, there were402A brand’s sales exceeded 100 million243 of which are domestic brands, 38,000The transaction volume of each brand increased by more than 100% year-on-year.
Consumers became even more enthusiastic about Tmall Double 11, with the cumulative number of users visiting during the entire cycle exceeding 800 million, setting a historical peak. The number of 88vip users exceeded 32 million, setting a new record high, and transaction volume increased by double digits year-on-year.the “user first” strategy has become more effective.
Merchants showed stronger enthusiasm for Tmall Double 11 operations.The number of active merchants operating weekly increased by 150% year-on-year, and the average number of merchants paying advertising per day increased by double digits year-on-year.
The price power effect brings about simultaneous growth in user scale and merchant business. In markets below the third tier alone, Tmall’s Double 11 this year saw more than 20 million new purchasing users and over 140 million new orders.
Merchant membership has become a new growth bonus.As of 0:00 on November 11, Taobao and Tmall have brought more than 100 million new members to merchants, and the number of merchant members on all platforms has increased year-on-year.Nearly 30% longer,Merchant member orders have increased by more than 100% for several consecutive days.
Store live broadcasts have exploded. Among the 58 live broadcast rooms on the entire platform that have exceeded 100 million, store live broadcasts account for more than 6into, 451The sales volume of the store broadcast exceeded 10 million, and for the first time within 4 hours of the pre-sale period, a brand live broadcast room with a sales volume of over 100 million appeared.
Since the beginning of this year, the consumer market has continued to recover, with social retail and online retail growth steadily increasing, and the overall growth of Tmall Double 11 once again witnessed the vitality of the consumer market.
While consumption is recovering, the market is also undergoing subtle changes, and consumers have higher requirements for brand power, price power, and product power. In order to better meet the needs of consumers, Tmall Double 11 maintained double-digit growth in 88VIP transactions while focusing on user scale and order volume. Price power, merchant membership and store live broadcasts have become new engines for platform transaction growth, and also provided opportunities for merchants. Brought greater business scale.
Systematic low-price capabilities bring about business explosion
Good goods and good prices have brought the greatest business opportunities to brands and merchants this year.
Compared with previous years, Tmall’s Double 11 emphasizes price power more clearly this year. On the basis of full cross-store discounts, official instant discounts and daily low prices are launched on a large scale for the first time. 80 million products have achieved annual bottom prices. It is expected that the entire Double 11 cycle Savings for consumersOver 950billion.
Price power has brought about a significant increase in the number of purchasing users. In the third-tier and lower-tier markets alone, Tmall added more than 20 million new purchasing users during Double 11 this year and received more than 140 million new orders.
This year “low price” has become the focus of e-commerce, and Tmall’s Double 11 price power is not absolutely low price. It emphasizes “good goods at good prices” and “low prices but not cheap”, and strives for the best for consumers in every price range. Good price.On Double 11 this year, all iPhone products received tens of billions of subsidies on Taobao, reaching the bottom price of the entire network. The tens of billions of subsidies have exploded exponentially.On November 11, the transaction volume increased by 699% year-on-year, and the number of purchasing users increased by 386% year-on-year.
Price power has also driven the significant expansion of merchants’ business scale. As of midnight on November 11, for the two newly added price-powerful pallets, the order volume of “official instant discount” products exceeded 210 million, and the order volume of “everyday low price” products was nearly 90 million.
To provide benefits to consumers and make money to merchants is Taobao and Tmall’s original intention of maintaining price power. Since the beginning of the year, Taotian Group has started from four aspects: supply, traffic, mechanism, and ecology, and has formed a systematic low-price capability. When merchants reduce prices, there will be traffic, and when prices decrease, there will be transactions. Data from October shows that the average traffic of low-price products on Taobao increased by 62.5%. The low-price capability was upgraded again during the Double 11 period, and traffic feedback was immediate after product price reductions, meeting the demand for rapid volume growth during the major promotions.
Merchant membership = new growth bonus
The penetration rate of e-commerce is nearly saturated today. Whoever can have more active users, private domain users, more retention and repurchase, will have greater growth opportunities.
As of 0:00 on November 11, Taobao and Tmall have brought a total of new sales to merchants.More than 100 million employeesthe scale of merchant membership on the entire platform increased year-on-yearnearly 30%in multiple industries including apparel and fast-moving consumer goods, the number of members has maintained double-digit year-on-year growth.
The continued growth of merchant membership has brought a large number of transaction conversions. During the Double 11 period, Taobao and Tmall merchant member orders increased by more than 100% for many consecutive days. In many industries, including apparel, members contributed nearly 30%; repeat purchase orders from regular customers recorded double-digit growth year-on-year for many days. Among them, apparel, fast-moving consumer goods, sports and outdoor, food and other industries have experienced year-on-year growth of more than 45% for many days.
In order to help merchants benefit from private domain operations, this year’s Double 11, Taobao and Tmall have taken five major measures, including free private domain tools and regular customer return visits, to provide merchants with more exposure opportunities for fans, regular customers, and members, bringing This has led to the continuous improvement of merchants’ operational enthusiasm. During the Double 11 period, the number of active merchants in the private sector doubled for several days.
Since this year, more flexible regular customer prices and fan prices, a simpler and lower-threshold membership system, and more intuitive business advisory data have significantly enhanced the confidence of Taobao and Tmall merchants. The private domain of the store has become a way for merchants to quickly accumulate reputation and activate members. , connect with fans and become the core position to expand business scale.
Store broadcast breaks out, Taobao and Tmall start the second half of live e-commerce
This year’s Double 11, Taobao Live ushers in a new round of ecologyProsperity, 58The live broadcast room’s turnover exceeded 100 million, and its14 of themIt is the first time that it has exceeded 100 million, and the leading camp has significantly expanded its capacity.
The performance of store live streaming is particularly outstanding, with 38 store live broadcasts exceeding 10 million and 451 store live broadcasts exceeding 10 million. Tmall’s store live streaming transactions in various industries such as consumer electronics, jewelry, sports and outdoor, home decoration, and apparel have achieved impressive growth rates.
The live broadcast room of FILA’s official flagship store on Tmall exceeded 100 million in sales four hours before the Double 11 pre-sale, breaking the industry record and having iconic significance. Chiba Jewelry became the first live broadcast room in Taobao and Tmall jewelry industry to exceed 100 million, and the penetration rate of store broadcast increased from 5% a year ago to 38.9%.
Store broadcasting has already exploded on Tmall Double 11precursor.This year, brands and merchants have taken a more active stance in deploying in-store live broadcasts. In the past year, more than 300,000 brands and merchants have launched new live broadcasts on Taobao.Among them, there are more than 27,000 store live broadcast rooms with sales exceeding one million, and nearly 4,000 with sales exceeding 10 million.
In recent years, users’ consumption decisions have become more rational, and the rich information and real-time interaction of live e-commerce have increasingly become an important support for consumption decisions. Live broadcasts by experts who are responsible for marketing and planting tasks cannot fully meet user needs, and it is difficult for merchants to obtain sustained transaction conversions. On Taobao, store broadcasts can connect with merchants’ private domains and form stable crowd assets, which are increasingly favored by brands and merchants.
Taobao is the pioneer of live streaming e-commerce. Today, live streaming e-commerce enters its second half. Taobao once again created a trend of store live streaming.
In May this year, Taotian Group CEO Dai Shan announced three major strategies of “user first, ecological prosperity, and technology-driven”, aiming to increase user active access, strengthen user tiered operations, and further expand the rich supply of “universal Taobao”. Create a multiplier effect between the user side and the supply side. The technological capabilities represented by AI are the key support for amplifying the multiplier effect.
This year’s Tmall Double 11, the explosion of price power and merchant membership is a direct reflection of the “user first” strategy. Both the public and private domains have achieved the peak number of purchasing users on Tmall’s Double 11 in the past 15 years; the rise of store live broadcasts, It is the result of the “ecological prosperity” strategy and has opened up a new core business position for mature brands and small and medium-sized businesses. The emergence of these three new engines is inseparable from the upgrade and expansion of Taobao’s series of AI tools. Technology is the core driving force.