What is the difference between Double 12 and Double 11?

Double 11 and Double 12 are both shopping carnivals. The Double 11 event is on November 11th every year, and the Double 12 event is on December 12th every year. Since the Double 11 shopping carnival originated earlier and more merchants participated in the Double 11 shopping carnival, the scale of the Double 11 event is larger than that of Double 12. 1. Participating merchants vary. The "Double Eleven" traffic mainly promotes Tmall Mall, and the subsequent "Double Twelve" mainly promotes Taobao Market C stores, or some small and medium-sized sellers with one, two, or three diamonds.

2. The coverage of activities is different. "Double Eleven" is mainly targeted at brands, and its coverage is relatively not wide. "Double Twelve" will have hundreds of thousands of offline merchants participating in the event, truly combining the Internet with offline physical commerce and opening up a new business Intelligent era. Covering eight major offline scenes including restaurants, supermarkets, convenience stores, takeaways, business districts, airports, beauty salons, and movie theaters, the activities have spread to more than 200 cities across the country and 12 countries and regions including Australia, Asia, Hong Kong, Macao, and Taiwan, serving hundreds of millions of people. Consumers provide services. The Double Twelve event has become a consumer carnival for the offline service industry.

3. It is different from the perspective of sales. The importance of "Double Eleven" and "Double Twelve" is also reflected in the sales data. Every year, Double Eleven sales data are released. From 0 to 120.7 billion yuan, Double Eleven opened the door to the new retail economy. As for Double Twelve, sales have never been announced. It seems that sales volume has never been the focus for Double Twelve.

4. Ali’s support levels vary. "Double Eleven" is the highlight of Alibaba, targeting the Tmall platform. It is of great help to Tmall merchants, especially the original offline brands, but it harms the interests of small and medium-sized merchants on Taobao; "Double Twelve" Mainly aimed at Taobao merchants, its role is to appease small Taobao merchants who are dissatisfied with the Double 11 traffic cutoff, and incidentally improve their performance and attention. Picture source@visualChina

Text | Aurora JIGUANG

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Text | JIGUANG

Aurora Mobile (NASDAQ: JG) released the "2020 Double Eleven E-commerce Industry Research Report", starting from 2020 The overall background of the Double Eleven event, the analysis of the e-commerce industry during the Double Eleven period and the analysis of the e-commerce sub-sectors provide insight into all aspects of the e-commerce industry during the Double Eleven in 2020, and look forward to the development prospects of the e-commerce industry.

Aurora’s point of view:

1. During Double Eleven, the average person installed 4.2 shopping apps, and cross-platform shopping has become the mainstream consumption habit of people when shopping;

2. Compared with previous years, the overall activity level of the e-commerce industry during the Double Eleven period only increased slightly;

3. The average number of new users in the e-commerce industry during the Double Eleven event reached 2,500 per day. Around 10,000 new users mainly come from lower-tier markets;

4. Live streaming effectively shortens the link between B-side and C-side, empowers the traditional offline real economy, and promotes the iterative upgrading of traditional manufacturing. , and at the same time, it can effectively open up the traffic pool and realize traffic reuse and long-term brand service.

1. Overall background of the 2020 Double Eleven event

The significance of the 2020 Double Eleven Shopping Festival

Double Eleven after the epidemic is of great significance to the e-commerce industry , the outbreak of consumer demand has compounded merchants’ anxiety about recovery, and platform competition has become fierce.

As the world’s largest consumption season after the epidemic, Double Eleven is of great significance to consumers, merchants, and e-commerce platforms. Consumer demand continues to be released after the epidemic. Merchants are looking forward to Double Eleven to boost sluggish sales performance in the first half of the year. With more platform players entering the game, the industry has formed a big battle, especially the competition for the new battlefield of live broadcasting.

The positioning of the 2020 Double Eleven Shopping Festival has changed

Relying on the strong traffic absorption power, Double Eleven is not only a position for discount promotions, but also an "amplifier" of brand reputation.

Double Eleven subsidies are unprecedented, and the methods tend to be "simple and crude". Tmall's subsidies have doubled, JD.com has launched the number one subsidy and double tens of billions of subsidies, and Suning.com's subsidies focus on online and offline merchants and big-name merchants. Relying on the strong traffic absorption power, Double Eleven has gradually upgraded to the main position for brand new product releases. This year, e-commerce platforms have ushered in an explosion of new products, and more and more brands have chosen to release new products during Double Eleven.

Innovative model of the 2020 Double Eleven Shopping Festival

The innovative model of “short video planting and live broadcast harvesting” has become the biggest highlight of Double Eleven, creating a unique consumption experience for consumers.

Compared with the traditional marketing model, the "short video live broadcast" format can more effectively establish the emotional connection and trust between bloggers/anchors and buyer fans. Based on this, bloggers/anchors can greatly Stimulate consumer desire and help consumers make purchase decisions, greatly improving the conversion efficiency of goods. The combination of "short video + live broadcast" not only promotes cooperation between traditional e-commerce and content platforms, but also promotes e-commerce platforms to explore innovation and iteration of internal functional modules.

Channel changes during the 2020 Double Eleven Shopping Festival

The marketing strategy of the Double Eleven e-commerce platform has highlighted omni-channel integration, and online and offline linkages have become more in-depth.

Compared with the previous Double Eleven activities, this year’s online and offline linkage is more prominent, and the integration of all channels has been greatly improved. For example, Alipay has added the role of “digital life platform” to create the first entrance to food, drink and entertainment, and JD Global Love Season unifies online and offline prices and service quality. The value of omni-channel integration is to create a unified consumption entrance for users, link new resources, serve diversified scenarios, enhance user service experience in a digital way, and create new consumption pleasure.

Marketing Innovation of the 2020 Double Eleven Shopping Festival

In terms of marketing innovation, this year’s focus is on extending the event period, improving the live broadcast ecological chain, and optimizing the consumer experience to boost the shopping carnival.

As online traffic becomes increasingly saturated and merchants suffer significant losses in the first half of the year, e-commerce platforms generally choose to extend the shopping festival or divide sales into two rounds to give merchants longer sales time. Live broadcasting is the highlight of this year's marketing methods. The e-commerce platform innovatively uses anchors as a link to bring a better consumer experience to consumers, and also introduces more incentive policies to improve the live broadcast ecological chain.

2. Analysis of the e-commerce industry during Double Eleven 2020

Cross-platform purchasing has become a mainstream consumption habit

On average, 4.2 shopping apps were loaded per person during Double Eleven. Cross-platform shopping has become the mainstream consumption habit of people when shopping.

The overall activity of the e-commerce industry has increased slightly

The overall activity of the industry has increased compared with previous years, with a small peak occurring in advance. However, the year-on-year growth in activity on 11.11 slowed down.

This year’s Double Eleven officially started on October 21. The average DAU of the e-commerce industry exceeded the levels of the same period in 2019 and 2018. However, compared with the substantial growth in 2019 compared with 2018, the industry this year The increase in activity has slowed down, and the e-commerce industry as a whole has become saturated. November 1st ushered in the first wave of "payments". On that day, the average DAU reached a small peak of 5 million. It successfully warmed up in advance and contributed to a wave of sales. The activity in the following days also fluctuated. In the later period of Double Eleven, the growth rate of DAU slowed down. The year-on-year increase in DAU on November 11 this year was 300,000, which was far lower than the year-on-year increase of 3.2 million on November 11, 2019.

New users mainly come from lower-tier markets

This year’s Double Eleven still plays a huge role in attracting new users. When online e-commerce users tend to be saturated, Double Eleven new The increase in users mainly comes from lower-tier markets.

Live broadcast has become a new tool to improve conversion rate

As an innovative marketing tool this year, live broadcast not only helps attract traffic, but also improves marketing conversion rate compared to traditional models.

Compared with the 6-8 conversion rate of traditional e-commerce stores, using live streaming to bring goods can increase the conversion rate by 2-3 times, reaching an overall level of about 20.

Live streaming relies on well-known anchors with their own traffic. The conversion rate of a single live broadcast can also be maintained above 12-16, and the marketing model is more in line with user needs.

The morning and evening peak hours are the active periods for user consumption

20-22 pm is the peak time for most platform users to "buy hands". The peak time for Pinduoduo also occurs at 8 am .

During Double Eleven, the peak user usage of traditional e-commerce platforms (such as Taobao, JD.com, and Suning) is mainly concentrated at 10 a.m. and 20-21 p.m. There are three peaks in the active time period of Pinduoduo users, namely 8 am, 12 noon and 20 pm. Pinduoduo users tend to "buy" during fragmented time.

Consumption demand of users in low-tier cities has been boosted

Double Eleven active users moved to cities to participate in shopping in a balanced manner. Due to the sinking of channels and the boost in consumption power, consumer demand in low-tier cities release.

Take leading e-commerce companies as an example. During the Double Eleven period, the proportion of active users in new first-tier cities and third- and fourth-tier cities was relatively high, and the sinking market became the main source of active users. Xiaohongshu has the highest proportion of active users in new first- and third-tier cities, reaching 22.7 and 20.1 respectively, but the proportion of active users in Xiaohongshu has declined in lower-tier cities. Pinduoduo’s active users are obviously concentrated in third-tier, fourth-tier and lower-tier cities, and there is huge consumption potential in lower-tier markets.

Double Eleven user comments focus on live streaming

Those who can live stream will win the world. Live streaming leads the hot topic of this year’s Double Eleven and becomes the most important public opinion hot word on this year’s Double Eleven.

Live streaming is one of the top ten hot topics and top ten hot words on Weibo this year. The information attention paid to live broadcasts, including netizen information index and media index, has jumped significantly compared with previous years, and live broadcasts have become the hottest topic this year.

3. Analysis of 2020 Double Eleven e-commerce industry segments

Double Eleven data performance of the live broadcast e-commerce industry

Due to the fact that this year’s Double Eleven is divided into two rounds Due to the impact on sales, the live broadcast e-commerce industry experienced two small booms on October 31st and November 10th.

Since this year’s Double Eleven is divided into two rounds of pre-sales, Taobao’s Double Eleven live broadcast data shows two small peaks, both of which are the day before the final payment, including October 31 and November 10. . Taobao Live broadcasts on October 31st and November 10th not only ushered in a small peak in the number of views during the Double Eleven period, but also an important moment for the anchor to attract the most fans during the Double Eleven period.

Data performance of various sub-categories in the live broadcast e-commerce industry

The relatively unpopular categories in the traditional e-commerce scene have taken on new vitality in the live broadcast e-commerce, breaking through the traditional unit price and audience threshold limit.

Since live broadcast can better display the characteristics and functions of products, and the anchor can effectively convey brand value and effectively stimulate consumer desire, even for categories that are less popular in traditional e-commerce, such as relatively high unit price per customer and high audience threshold. High-quality jewelry and watches have also become popular categories in live broadcast e-commerce. Currently, makeup and clothing, food, and other daily necessities are the most popular categories for live streaming.

Livestreaming e-commerce sales and fan value

Taobao Viya and Li Jiaqi occupy the top spot in livestreaming sales, but the value of fans of the two major Mogujie anchors far exceeds that of anchors on other platforms .

Due to differences in business models, the focus of live broadcasts on each platform is different. Taobao pays more attention to the comprehensive enrichment of stores and products, focuses more on public domain traffic, and is relatively leading in sales. Douyin, Kuaishou, and Mogujie pay more attention to experts and private domain traffic, and their fan value advantage is more prominent. Currently, Mogujie and Douyin are relatively ahead, especially the data on November 10 shows that the two major Mogujie The value of anchor fans is far higher than that of anchors on other platforms.

Double Eleven data performance of the cross-border e-commerce industry

The number of active users of cross-border e-commerce apps during this year’s Double Eleven is significantly lower than in previous years, and overseas shopping traffic is concentrated on comprehensive head platforms Or it has become a trend.

Different from the past, during this year’s Double Eleven event, there were three peaks in DAU for cross-border e-commerce, including the pre-sale event on October 21st, the final payment event on November 1st, and the On the day of Double Eleven; however, compared with the previous two years, the DAU of vertical cross-border e-commerce on Double Eleven this year has significantly decreased. According to customs data, domestic import and export indicators during this year’s Double Eleven have increased compared with last year. Due to the epidemic, e-commerce and duty-free shops have become the main channels for domestic purchases of overseas goods, so users’ demand for overseas shopping has actually not increased. Decrease; the reason for the decline in the number of vertical cross-border e-commerce users is likely to be that the international supply chains of leading platforms such as Tmall and JD.com have become more mature in recent years, and have significant advantages in speed and price, attracting more overseas purchases. User traffic.

Double Eleven data performance of the second-hand e-commerce industry

Second-hand e-commerce experienced a traffic peak that was not seen in previous years on Double Eleven this year. This may be the main reason why users resold/buy pre-sale goods .

On Double Eleven this year, active users of second-hand e-commerce showed a small peak in activity. However, judging from the data of previous years, Double Eleven did not have a significant stimulating effect on the growth of second-hand e-commerce users. The increase in activity of second-hand e-commerce users during this year’s Double Eleven, on the one hand, reflects that users also have independent strategies for new promotional methods such as “pre-sale balance” on leading e-commerce platforms. Second-hand platforms have become a popular platform for consumers to resell or buy together. The main channel for pre-sale goods; on the other hand, Zhuanzhuan, another leading platform in the second-hand e-commerce field, also launched corresponding promotional activities during Double Eleven, which to a certain extent stimulated the growth of user traffic.

Double Eleven data performance of the fresh food e-commerce industry

On the day of the big promotion, the DAU of fresh food e-commerce increased by 11.1 year-on-year. "standard configuration.

Judging from the data of the past three years, the DAU of fresh food e-commerce companies will increase with small fluctuations on November 11 every year. During this year’s Double Eleven, the DAU of fresh food e-commerce companies increased year-on-year. Growth of 11.1. With the development of the fresh food e-commerce industry, fresh food has become another standard category for consumers to "buy" during Double Eleven.

IV. Prospects for the E-commerce Industry

Live streaming e-commerce moves towards refined operations

Live streaming has become a normalized standard marketing tool, and live streaming e-commerce is in urgent need of refinement With the development of standardized operations, the industry is moving towards the stage of standardization.

As more and more e-commerce platforms and brand merchants adopt live broadcast methods, live broadcast has become a standard marketing tool, competition is gradually becoming fiercer, and the operation of live broadcast e-commerce platforms urgently needs to be refined. At present, the overall operation of the live broadcast e-commerce platform is relatively extensive, and the way of cooperation with various stakeholders is not yet mature. Each link of the ecological chain needs to be improved urgently. In the future, only refined operations can ensure that product selection closely follows user needs, live broadcast content is high-quality, and transactions are increased. Conversion rate and full-process service experience.

Shortening the marketing link and empowering the traditional economy

Live streaming effectively shortens the link between the B-side and the C-side, empowers the traditional offline real economy, and also promotes traditional manufacturing industry iterative upgrades.

With the popularization of 5G technology and the advancement of live broadcasts on e-commerce platforms, live broadcasts will benefit more businesses and consumers in the future, and the strong interactivity and visibility of live broadcasts will successfully enable merchants/enterprises to communicate with each other. The real-time and accurate grasp of consumer demand enables a wide range of real consumer demands to reach the B-side directly. The shortening of marketing links can, on the one hand, reconstruct the trust mechanism and promote consumption decisions. On the other hand, it can force upstream traditional manufacturing companies to transform and upgrade, and realize reverse customization and new products through C2B.

Live broadcast opens up the traffic pool and realizes traffic reuse

Relying on the advantages of live broadcast and short video tools, in the future, it will be easier for merchants to open up the traffic pool and realize traffic reuse and long-term brand services.

Live broadcast/short video is more suitable as a bridge between public domain traffic and private domain traffic, establishing a direct relationship between merchants and users. On the other hand, it can also be used as a tool to better serve the operation of the user community. Merchants/enterprise pairs obtain new users and transactions through so-called public domain traffic (e-commerce platforms/KOL, etc.), and then operate private domain traffic (WeChat ecosystem) to increase the overall life cycle value of users.