Double Eleven is Singles’ Day, why is it a shopping day?

Since Taobao Mall (Tmall) held an online promotion on November 11, 2009, the number of participating merchants and promotional efforts were limited, but the transaction volume far exceeded the expected results. November 11 became the day Cat holds fixed dates for large promotions.

In the context of increasing downward pressure on the economy, the surging passenger flow and extremely high daily transaction volume during the "Double 11" shopping carnival show that people have strong willingness to consume and high spending power. This is undoubtedly A positive signal to boost domestic demand. The "blowout" of e-commerce demand reveals the huge potential of China's online consumption, that is, the confrontation between traditional retail formats and new retail formats.

Alibaba Group CEO Jack Ma believes that the "Double 11" shopping carnival is a signal of China's economic transformation and a contest between new marketing models and traditional marketing models.

Analysts said that with the successful breakthrough of 10 billion nodes, China's retail industry is "undergoing fundamental changes" - online transactions have transformed from one of the supplementary channels of the retail industry to the mainstream of stimulating domestic demand. form, thus forcing the traditional retail format to be fully upgraded.

Extended information:

Other related introductions to the Double Eleven Shopping Street:

In the "Double Eleven" in 2019, if live broadcast is still a new thing , then live broadcast has become the "standard configuration" for e-commerce, brands and enterprises in 2020, and its penetration rate is increasing rapidly. All e-commerce platforms have made great efforts in the field of live broadcasting. It can be said that "anchor shopping" has become a new way for consumers to start "Double 11".

As soon as Tmall’s “Double 11” was launched in 2020, Taobao Live Room received hundreds of millions of visits. On October 21, pre-sale started 10 minutes ago, and the transaction volume guided by Taobao Live exceeded the whole day last year. In addition, more anchors and businesses have also experienced an explosion in live streaming rooms. In the beauty industry alone, 12 items were sold for more than 100 million yuan within one hour of Taobao live broadcast.

Baidu Encyclopedia-2020 Double Eleven Shopping Carnival

Baidu Encyclopedia-Double Eleven Shopping Carnival