Amid Price Wars, Tmall and JD Announce Singles' Day Results as Consumers Grow More Rational

[baoshi.rao]

In this fierce competition, Taotian Group reported significant growth in both user base and merchant scale, further expanding its market dominance and driving comprehensive increases in order volume and total transaction value. The cumulative number of visitors throughout the event exceeded 800 million, setting a historical peak. The number of 88VIP members surpassed 32 million, another record high, with 88VIP transaction volume achieving double-digit year-on-year growth.

JD.com stated that as of 23:59 on November 11th, transaction volume, order count, and user numbers all reached new highs, with the total viewership of JD's procurement live streams exceeding 380 million. Over 60 brands surpassed 1 billion yuan in sales, nearly 20,000 brands saw transaction volumes grow more than threefold year-on-year, and new merchants experienced a fivefold month-on-month increase in order volume.

Taotian Group's report shows that it is estimated that over 95 billion yuan was saved for consumers throughout the Double 11 campaign. The 'price competitiveness' effect has driven simultaneous growth in user scale and merchant business. In third-tier and below markets alone, Tmall Double 11 this year added over 20 million new buyers and more than 140 million new orders. Meanwhile, Taotian Group's 'Official Discount' section saw over 210 million orders, and the 'Everyday Low Price' category recorded nearly 90 million orders.

In terms of brand performance, as of 00:00 on November 11, a total of 402 brands achieved sales exceeding 100 million yuan, with 243 being domestic brands. Additionally, 38,000 brands experienced year-on-year growth of over 100%.

Regarding live streaming performance, Taotian Group reported a significant surge in shop broadcasts. Among all platforms, shop broadcasts accounted for over 60% of the 58 live streams that surpassed 100 million yuan. Furthermore, 451 shop broadcasts achieved sales exceeding 10 million yuan, with one brand's live stream breaking the 100 million yuan mark within just 4 hours during the presale period. In the shop broadcast category, industries such as consumer electronics, jewelry, sports and outdoor, home decoration and furniture, and apparel on Tmall demonstrated impressive growth rates in transaction volume.

During the Double 11 shopping festival, the growth in merchant membership numbers has also attracted attention. The prevailing view is that e-commerce penetration has nearly reached saturation. Those who can secure more active users, private domain users, and achieve higher retention and repurchase rates will have greater growth opportunities. As of midnight on November 11, Taobao Tmall had cumulatively brought merchants over 100 million new members, with the total platform merchant membership base growing nearly 30% year-over-year. Multiple industries, including apparel and fast-moving consumer goods, maintained double-digit year-over-year growth in membership numbers.

After Double 11, will the focus on low prices continue? Is the ultimate goal of e-commerce competition just low prices? Wang Hai (alias: Qigong), President of the Small and Medium Enterprise Development Center at Taotian Group, stated in an interview with The Paper: "Price is undoubtedly the most critical factor. How to build the most 'price-competitive' platform is something we will continue to pursue. The results during Double 11 were indeed very positive. When recruiting products for Double 11, we verify the lowest post-coupon prices within a certain period before allowing participation in our promotions. This has elevated our platform's ability to control pricing to a new level."

"Tmall's Double 11 achieving growth on such a large base is an important signal. However, we've observed significant changes in brand metabolism during this process—some brands grow rapidly while others struggle to keep up with evolving Chinese consumer preferences, facing considerable challenges," said Liu Peng (alias Owen), President of Tmall Group's Brand Business Development Center, in an interview with media including The Paper. He noted that while China's overall social consumption maintains steady growth, factors like urban-rural disparities, age demographics, and diverse consumer backgrounds are driving increasingly varied consumption trends. "When product functionality becomes similar, consumers' price comparison and rational consumption behaviors increase. But when products resonate emotionally with users, even premium-priced items sell well."

JD.com: JD Procurement Livestreams Surpass 380 Million Total Viewers

At the JD.com Double 11 Media Open Day held on November 11, JD Retail CEO Xin Lijun stated that JD's low-price strategy is always supported by quality and service while providing consumers with a wider range of affordable products. Through its procurement livestreams, which charge no slotting fees or influencer commissions, JD aims to ensure profitability for brand manufacturers and the entire supply chain while maximizing benefits for consumers.

According to the report, as of 11:59 PM on November 11, the total viewership of JD's procurement livestreams had exceeded 380 million.

The number of products in JD's "Billions Subsidies" channel doubled compared to the 618 shopping festival, with user traffic increasing nearly fivefold since June. In JD's 9.9 Free Shipping channel, sales of high-quality products from hundreds of industrial clusters surpassed one million orders. The flash sales channel also saw a tenfold increase in transaction volume compared to September.

During JD.com's Singles' Day 10 Billion Subsidy event starting at 8 PM on October 31st, the sales volume exceeded 100 million RMB in less than 4 minutes. On November 2nd, the "9.9 RMB Free Shipping Day" saw the order volume in JD's 9.9 free shipping channel increase by over 35 times compared to JD's 618 event this year, with the number of shopping users growing by more than 28 times.

This year's JD Singles' Day witnessed explosive growth for numerous brands. Within the first 10 minutes after the launch at 8 PM on October 23rd, many health brands surpassed their full-day sales from the same period last year. Similarly, at 8 PM on October 31st, the sales of many premium smartphone brands doubled year-over-year in just 10 minutes. In the first week of JD's Singles' Day, home appliances such as ultra-thin embedded refrigerators, fresh air conditioners, and all-in-one water purifiers saw sales grow by over 300% year-over-year, while more than 6,000 fashion brands achieved over 100% growth in sales.

This year, JD.com has introduced a series of merchant support measures through its 'Spring Dawn Plan,' effectively attracting a large number of small and medium-sized merchants to join the platform. During JD.com's Double 11 period, the number of newly registered stores increased by 3.4 times compared to the previous year, while the total number of new and existing merchants participating in this year's JD.com Double 11 grew by over 1.5 times year-on-year.