Double 11 turns cold, Chinese brands rise
- Chaileedo Press
- Nov 12, 2022
- 2 min read
After this year's Double 11, neither Tmall nor JD released GMV.
(Credit: website)
From 2009 to 2021, the release of GMV of Double 11 every year is important news for e-commerce platforms. According to CHAILEEDO, the total turnover of Tmall's Double 11 from 2019 to 2021 will be 268.4 billion yuan, 498.2 billion yuan, and 540.3 billion yuan respectively, and that of JD's Double 11 will be 204.4 billion yuan, 271.5 billion yuan, and 349.1 billion yuan respectively, showing an annual growth trend.
JD Group said that as of 11:59 p.m. on November 11, 2022, the "JD 11.11 Global Love Season" exceeded the growth rate of the industry and created a new record. At the same time, the number of retail shopping users also achieved another success. Tmall said that this year's Tmall Double 11 was stable and good, and the transaction scale was the same as last year. Since the launch of the "Double 11" promotion activities, neither platform has announced GMV for the first time.
Focusing on the cosmetics market, Syntun counts that personal beauty care cosmetics occupy the third place in the top 10 categories of the total sales of the whole network from November 10 to November 11. In the Top 10 list of top beauty and skincare sales of popular categories sold by comprehensive e-commerce across the Double 11 network, L'Oreal, Estee Lauder and Lancome firmly rank in the top three, while Chinese brands PROYA and Winona occupy the fifth and sixth places respectively. In the list of Perfume&Makeup, Chinese brand Florasis ranked second.
It is worth mentioning that PROYA ranked No.1 in the transaction of domestic beauty cosmetics on Tmall, Tiktok and JD. Winona has won the top 10 of Tmall Beauty&Skin Care for 5 consecutive years. In the field of cosmetics, although the pattern of international big brands accounting for more than half of the sales list has not been broken, it is clear that domestic brands are rising.
From the perspective of live broadcast, according to CHAILEEDO data, the self-broadcast sales of beauty brands accounted for 22.98%, the live broadcast times accounted for 6%, and the average conversion rate of goods delivered per session was 3.14% during the Tiktok Double 11 (10.24-11.11).
At present, international brands have not released the sales data of the Double 11. Yu Huanhuan, the market leader of Tmall Global, said in an interview with Xinhua News Agency that Chinese consumers have a strong demand for cross-border imports, and overseas brands are paying more and more attention to the Double 11 and the Chinese market. This year, more than 1600 overseas brands participated in Tmall's Double 11 for the first time, bringing thousands of products. This may mean that the efforts of international brands on the Double 11 have not ended.
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