Dao Insights’ Post

With platforms abandoning low prices, Alibaba and JD collaborating as well as the return of top livestreamers, what are the new trends of Double 11 this year? Find out more: 👇 #china #ecommerce #socialmedia

A 14% increase in GMV was observed during the recent 618 shopping festival. New players in China's e-commerce arena are growing faster than the two established giants, Tmall and JD.com. Douyin saw the highest growth at 26%, followed by Pinduoduo at 18% and Kuaishou at 16%. However, these three have much smaller bases compared to Alibaba, which grew by 12%, and JD.com, which grew by 6%. As the platforms do not publish their figures, these macro data come from third parties. The reported figures align with our perception at 2 OPEN. Sellers are rightly concerned about the profit margin erosion caused by intense competition. Price remains an absolutely key variable, especially for platforms that aggressively demand at least price matching with any other platform. Brands should avoid cannibalization and channel competition, as it is a detrimental business strategy. Brands that divide online channels among various sub-distributors generally end up failing. While it’s true that consumers are price-sensitive, self-cannibalization is a grave mistake many brands continue to make. In some cases, brands boast about strict price control, but our team often finds that this is far from the truth with a simple product search. Additionally, another firm has reported a decrease in GMV, which we believe is incorrect based on the figures we can see and observe through the platforms. With the significant number of brands we manage, our data provides a more accurate picture. If you need a reliable team to handle your e-commerce in China, look no further. #ChinaEcommerce ##618ShoppingFestival #Alibaba #JDcom #Douyin #Pinduoduo #Kuaishou #2OpenChina #MarketingInChina #MarketAnalysis #ChinaMarket data from: https://lnkd.in/dzMQcwkD

🤔 The Longest Double 11 Wraps Up: What Comes Next? This year’s Double 11, the longest in history, has finally wrapped up after nearly a month. China’s biggest e-commerce giants, Alibaba and JD.com, have both released their final sales report for this year’s Double 11. Third-party data intelligence platform, Syntun, has also released estimates for emerging social commerce platforms like Douyin, 🐱 Tmall reported record-breaking growth, with strong sales momentum and a historic high in user participation by the end of November 11. Across the full Double 11 period, 589 brands surpassed RMB 100 million in sales, marking a 46.5% increase over last year and setting a new milestone. 🐶 On JD, Over 30,000 small and medium-sized businesses saw their sales more than double year-on-year. Largely thanks to government subsidies, sales of home appliances and home goods sales has skyrocketed, with JD reporting that a total of 519 categories in this segment saw sales grow by 200% year-on-year. 🎶 Livestream e-commerce platforms performed impressively during this year’s Double 11, with cumulative sales reaching RMB 332.5 billion. Douyin maintained its position as the top social commerce and livestream platform. These impressive sales numbers highlight the strong purchasing power and recovery of Chinese consumers’ confidence. Yet behind the figures lies a critical question: what’s next after wave upon wave of discounts? As brand builders at heart, YASO recently released Gardenomics, a report offering a four-step framework for building lasting brand success in China. Check out our feature in Jing Daily to explore actionable insights for long-term growth: https://lnkd.in/eXsMTEYk #Double11 #SinglesDay #Tmall #JD #ChinaMarketing #ChinaMarket #ChinaInsight

China's top e-commerce companies, such as Alibaba Group and JD.COM, have been ramping up marketing efforts and discounts to boost consumer confidence and spending. In this Bloomberg article, Sherri He, managing director of Kearney China, discusses why the 618 shopping festival, one of the biggest and most important in China, is at its most intense this year as e-commerce platforms face immense performance pressure amid a consumption downgrade. Learn more about retail and consumer trends in the region: https://bloom.bg/3xFbRgU

How early is too early to celebrate an anniversary? Chinese e-commerce firms such as Alibaba.com, JD.COM and Pinduoduo certainly think a month in advance is an acceptable timeframe to get the festivities going! Last week, all three launched their #SinglesDay 11.11 sales campaigns to much fanfare with JD.Com even promising 'one billion items for sale' although no one is quite sure what that actually means. Regardless, the ongoing sluggish domestic economy and tighter government regulations means that we don't believe that the cheers are going to carry over to sales figures. So far, 2024 has not been a kind year to Chinese e-commerce. #Retail figures have fallen short of market forecasts and performance during key shopping festivals like the Mid-Autumn festival and the #618 shopping festival have been lacklustre. Even though these platforms have resorted to aggressive price-slashing strategies to boost sales, this resulted in higher transaction volumes but not necessarily increased per capita or overall spending. Regulatory enforcement has also intensified against aggressive e-commerce marketing and high-pressure sales tactics, adding further challenges for platforms already facing economic headwinds. #China #ecommerce

In a battle to dominate the lucrative market for cheap made-in-China goods, Alibaba's e-commerce platform AliExpress has pulled out all the stops, signing soccer superstar David Beckham as a brand ambassador to help it play catch-up with the wildly popular upstart Temu. The Chinese e-commerce giant is now investing aggressively to boost global sales through AliExpress as domestic growth slows, with its international division's revenues surging an impressive 45% in the latest quarter. AliExpress has even become an official sponsor of the UEFA Euro 2024 tournament, planning to splash millions on discounts, deals and consumer engagement to lure bargain-hunting online shoppers. In a slick ad campaign featuring the English icon, AliExpress will encourage consumers to "score more" by shopping on its platform - a marketing ploy reminiscent of Temu's viral Super Bowl ads urging Americans to "shop like a billionaire." With the competitive landscape heating up, Alibaba is leveraging its logistics prowess to offer speedy deliveries as it battles to wrestle market share from the rapidly-growing Temu

[China’s AliExpress, Temu sign rare pact in Korea to ensure product safety] Chinese e-commerce giants AliExpress and Temu signed a product safety agreement with Korea's Fair Trade Commission on Monday in the hopes of ensuring and protecting Korean consumers from harmful products being distributed and sold here through their platforms. The agreement marks the first of its kind signed by an overseas online platform operator in Korea regarding product safety. Particularly, Temu's involvement is noteworthy as this is the first time the company signed such an agreement with a foreign country. AliExpress Korea's CEO Ray Zhang and Qin Sun, head of Whaleco Korea LLC, Temu's Korean branch, were present during a signing ceremony held with the FTC Chair Han Ki-jeong at the Consumers Union of Korea's headquarters in Seoul. "Securing consumer safety is now globally recognized as a crucial value for companies to prioritize in achieving sustainable management," said Han. "We expect today's agreement ceremony to play a significant role in protecting consumer safety in overall online distribution transactions, along with previously signed agreements with domestic open markets." Tap below to read full story. #AliExpress #Whaleco #Korea #China #Ccommerce #ecommerce #transaction #online #shopping https://lnkd.in/eJ9jGiB4

💥 As we reach the halfway mark of the highly anticipated 618 promotion, Tmall is emerging VICTORIOUS, proving that prioritizing USER NEEDS is the key to success in China's dynamic e-commerce landscape. 📈 In a landscape where platforms vie for consumer attention, Alibaba’s focus on "user first" and "brand growth" is paying off in remarkable ways. By putting users at the forefront, Taobao and Tmall are experiencing a resurgence, with GMV returning to DOUBLE-DIGIT growth in the first quarter of 2024. 🔥 Tmall 618 is setting records with 185 brands surpassing 100 million yuan in sales, and 11 brands hitting the 1 billion yuan mark. The cancellation of pre-sales hasn't dampened enthusiasm, with Apple raking in 1.5 billion yuan in just one hour on the first day. Taobao Live is also experiencing a surge, with 38 live broadcast rooms exceeding 100 million yuan in sales. ⚡What's driving this success? Understanding user pain points is crucial for success. Alibaba actively listened to user feedback and addressed their frustrations with complex pre-sale rules. 🔹 By understanding evolving consumer preferences, Tmall and Taobao made bold moves like CANCELING PRESALES to simplify the buying process and ensure timely deliveries. This user-centric approach is resonating strongly, with domestic and international brands alike witnessing explosive growth. 🔹 The platforms have also been issuing advanced coupons and SIMPLIFYING DISCOUNTS, making savings more accessible to users and merchants alike. The integration of Taobao and Tmall discounts is democratizing promotions, allowing even small Taobao merchants to thrive. 🌟 As 618 continues, Alibaba's successful “back to basics” approach underscores the power of prioritizing user needs and delivering genuine value. It's a testament to the company's enduring commitment to making commerce easier and more rewarding for everyone. What do you think of this development? Thank you 王牧 for your insightful sharing on 界面新闻. #China #Tmall #Taobao #ECommerce #UserCentricity

💥 Midway through the 618 promotion, Tmall is VICTORIOUS by prioritizing USER NEEDS in China's dynamic e-commerce scene. 📈 Alibaba’s focus on "user first" and "brand growth" is paying off with DOUBLE-DIGIT growth in Q1 2024. 🔥 Tmall 618: 185 brands surpass 100 million yuan; Apple hits 1.5 billion yuan in one hour. Taobao Live sees 38 live broadcasts exceeding 100 million yuan in sales. ⚡ Simplifying discounts and canceling presales resonate with users, driving explosive growth for brands. 🌟 Alibaba’s user-centric approach proves that understanding and addressing user pain points leads to remarkable success. What do you think of this development? #China #Tmall #Taobao #ECommerce #UserCentricity IT Consultis

Quarterly earnings reports from Chinese #ecommerce giants Alibaba and JD.com this week will be closely watched as barometers for the mood of consumers in the world's second-largest economy. Both firms, which combined account for about 69% of China's e-commerce market revenue, according to DBS estimates, have faced increasing competition in recent years from low-cost platforms, such as PDD Holding's Pinduoduo and ByteDance-owned Douyin. https://lnkd.in/eVA9mmej