On November 12th at midnight, the 2023 Tmall Double 11 will end. The user scale and merchant scale have significantly increased, and the scale advantage has further expanded, driving a comprehensive increase in order volume and transaction volume. The brand has achieved the most important business explosion in a year on Tmall.
As of midnight on November 11th, a total of 402 brands had transactions exceeding 100 million yuan, of which 243 were domestic brands, and 38000 brand transactions increased by over 100% year-on-year.
Consumers have shown greater enthusiasm for Tmall Double 11, with a total of over 800 million users visited throughout the entire cycle, reaching a historic peak. The number of 88vip users has exceeded 32 million, reaching a new historical high, with double-digit year-on-year growth in transactions, highlighting the effectiveness of the "user first" strategy.
Merchants have shown stronger operational enthusiasm towards Tmall Double 11, with a 150% year-on-year increase in the number of active weekly merchants and a double-digit year-on-year increase in the number of daily advertising paid merchants.
The price power effect brings about synchronous growth in user scale and merchant business. In the third tier and below markets alone, this year, Tmall Double 11 has added over 20 million new purchasing users and over 140 million new orders.
Merchant members become new growth dividends. As of midnight on November 11th, Taobao and Tmall have accumulated over 100 million new members for merchants, with a year-on-year increase of nearly 30% in the membership size of merchants on the entire platform. The number of merchant membership orders has increased by over 100% for several consecutive days.
Store broadcasting has ushered in a major outbreak, with over 60% of the 58 live streaming rooms on the entire platform exceeding 100 million yuan. 451 store broadcasting rooms have sold over 10 million yuan, and there have been brand live streaming rooms with sales exceeding 100 million yuan for the first time within a pre-sale period of 4 hours.
Since the beginning of this year, the consumer market has continued to recover, and the growth rate of social zero and online retail has steadily increased. The comprehensive growth of Tmall Double 11 has once again witnessed the vigorous vitality of the consumer market.
At the same time as consumer recovery, the market is also undergoing subtle changes, and consumers have higher demands for brand power, pricing power, and product power. In order to better meet consumer demand, Tmall Double 11 has maintained a double-digit growth in 88VIP transactions, while focusing on user scale and order volume. Price power, merchant membership, and store live streaming have become new engines for platform transaction growth, and have also brought greater business scale to merchants.
Systematic low-priced capabilities bring about business explosion
Good goods and good prices have brought the greatest business opportunity to brands and businesses this year.
Compared to previous years, this year's Tmall Double 11 emphasizes price power more clearly. On the basis of cross store full discounts, it has launched official discounts and daily low prices on a large scale for the first time. 80 million products have achieved the annual bottom price, and it is expected that the full cycle of Double 11 will save consumers over 95 billion yuan.
The price power has led to a significant increase in the number of purchasing users. In only the third tier and below markets, this year, Tmall Double 11 added over 20 million new purchasing users and obtained over 140 million new orders.
This year, "low prices" have become the focus of e-commerce, and the pricing power of Tmall Double 11 is not absolute low prices. It emphasizes "good goods and good prices" and "low prices but not cheap", striving for the best price for consumers in every price band. On November 11th this year, the iPhone series reached the bottom price of the entire network with a 10 billion yuan subsidy on Taobao, and the 10 billion yuan subsidy experienced an exponential explosion. On November 11th, the transaction volume increased by 699% year-on-year, and the number of purchasing users increased by 386% year-on-year.
The price power has also driven a significant expansion of the business scale of merchants. As of midnight on November 11th, two new price power pallets have been added, with orders for "official reduction" products exceeding 210 million and orders for "daily low price" products reaching nearly 90 million.
Allowing consumers to benefit and merchants to make money is the original intention of Taobao and Tmall to maintain their pricing power. Starting from the beginning of the year, Taotian Group has developed a systematic low price capability from four aspects: supply, traffic, mechanism, and ecology. Merchants who lower prices have traffic, and those who lower prices have transactions. According to data from October, the average traffic growth of low-priced products on Taobao's entire network reached 62.5%. During the Double 11 period, the low price capability has been upgraded again, and the traffic feedback will be immediate after the product price is reduced, meeting the demand for rapid volume expansion during the promotion period.
Merchant membership=new growth bonus
The penetration rate of e-commerce is almost saturated today. Who can have more active users, private domain users, more retention and repurchase, and who has greater growth opportunities.
As of midnight on November 11th, Taobao Tmall has accumulated over 100 million new members for merchants, and the membership size of merchants on the entire platform has increased by nearly 30% year-on-year. In multiple industries including clothing and fast moving consumer goods, the membership size has maintained double-digit year-on-year growth.
The continuous growth of merchant members has brought about a large number of transaction conversions. During the Double 11 period, membership orders from Taobao Tmall merchants increased by over 100% for several consecutive days, with member groups contributing nearly 30% to multiple industries, including clothing; Regular repeat orders from customers have recorded double-digit year-on-year growth for several days, with industries such as clothing, fast moving consumer goods, sports and outdoor, and food experiencing a year-on-year growth of over 45%.
To help businesses benefit from private domain operations, on the Double 11 this year, Taobao Tmall provided more exposure opportunities for fans, regular customers, and members through five major measures such as free private domain tools and preferential visits from regular customers, bringing about a continuous increase in the enthusiasm of businesses for operation. During the Double 11 period, the scale of active private merchants has doubled over the past few days.
Since the beginning of this year, more flexible prices for regular customers and fans, 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 the core battlefield for merchants to quickly accumulate word-of-mouth, activate members, connect fans, and expand business scale.
Store broadcast outbreak, Taobao and Tmall start the second half of live e-commerce
This year's Double 11, Taobao Live ushered in a new round of ecological prosperity, with 58 live streaming rooms trading above 100 million yuan, of which 14 were the first to break 100 million yuan, with significant expansion of the top camp.
The live streaming performance of stores is particularly outstanding, with 38 stores broadcasting over 100 million yuan and 451 stores broadcasting over 10 million yuan. The transaction growth rate of store broadcasts in multiple industries such as Tmall Consumer Electronics, Jewelry, Sports and Outdoor, Home Decoration and Home Furnishing, and Clothing is impressive.
The official flagship store live streaming room of FILA Tmall achieved a transaction of over 100 million yuan 4 hours before the pre-sale of Double 11, breaking industry records and possessing iconic significance. Chiba Jewelry has become the first live streaming room in the Taobao Tmall jewelry industry to exceed 100 million yuan, with store broadcast penetration rate increasing from 5% a year ago to 38.9%.
The outbreak of store broadcasts on Tmall Double 11 has long been heralded. This year, brands and businesses have taken a more proactive approach to layout their store broadcasts. In the past year, more than 300000 brands and businesses have opened live broadcasts on Taobao, with over 27000 store live broadcast rooms with transactions exceeding one million yuan and nearly 4000 with transactions exceeding one million yuan.
In recent years, users' consumption decisions have become more rational, and the rich information and real-time interaction of live streaming e-commerce have increasingly become an important support for consumption decisions. The experts who undertake the task of marketing and grass planting live streaming cannot fully meet user needs, and it is also difficult for merchants to achieve sustained transaction conversion. On Taobao, store broadcasting can connect with merchants' private domains, forming a stable demographic asset, and is increasingly favored by brands and merchants.
Taobao is the pioneer of live streaming e-commerce. Today, live streaming e-commerce entered the second half, and Taobao once again pioneered the trend of store live streaming.
In May of this year, Dai Shan, CEO of Taotian Group, announced three major strategies: "user first, ecological prosperity, and technology driven", aiming to enhance user active access, strengthen user layered operation, further expand the rich supply of "universal Taobao", and form a multiplier effect between user side and supply side. The technological capabilities represented by AI are the key support for amplifying the multiplier effect.
This year's Tmall Double 11, with the outbreak of price power and merchant membership, is a direct reflection of the "user first" strategy. Both public and private domains have achieved the peak purchasing users of Tmall Double 11 in the past 15 years; The rise of store live streaming is the result of the "ecological prosperity" strategy, opening up new core business positions for mature brands and small and medium-sized businesses. The emergence of these three new engines is inseparable from the upgrading and expansion of a series of AI tools on Taobao, with technology as the core driving force.