Perspective on the "Double 11": The "Dopamine Economy" Outbreaks and the Rise of Domestic Products

Tech 2023-11-12 09:57:04 Source: Network

According to data from multiple e-commerce platforms, this year has seen an increase in male consumption power and a complete explosion of domestic products. What do everyone like to buy for 'Double 11'? What retail passwords are behind these numbers? What consumption trends are reflected?Subdivision of product tracks, outbreak of "dopamine economy"On the 11th, the reporter learned from e-commerce platforms that a major consumer trend during the "Double 11" this year is the outbreak of the "dopamine economy" represented by esports, cycling, skiing, trendy play, etc

According to data from multiple e-commerce platforms, this year has seen an increase in male consumption power and a complete explosion of domestic products. What do everyone like to buy for 'Double 11'? What retail passwords are behind these numbers? What consumption trends are reflected?

Subdivision of product tracks, outbreak of "dopamine economy"

On the 11th, the reporter learned from e-commerce platforms that a major consumer trend during the "Double 11" this year is the outbreak of the "dopamine economy" represented by esports, cycling, skiing, trendy play, etc., which also indicates the emergence of more new brands. In the past three years, we have helped 6000 brands successfully establish their brands and incubated 100 new tracks in the billions of yuan category, "revealed data from a platform.

This year's' Double 11 'has a phenomenon where more and more consumers, especially young consumers, are paying attention to emotional value products and paying for happiness. This is a very big trend, "said Owen, President of the Brand Business Development Center of Taotian Group, in an interview with media such as China New Finance.

Just like the 'dopamine consumption' we often mentioned before, this is very obvious. From the data, we can also see many interesting situations, such as categories such as esports, cycling, and skiing, all guiding consumption trends.

Hong Yong, an associate researcher at the E-commerce Research Institute of the Research Institute of the Ministry of Commerce, believes that the current consumer market is showing characteristics such as fragmentation and personalization. The country is also increasing support for small and medium-sized enterprises, and e-commerce platforms are releasing benefits to create a diverse and prosperous entrepreneurial environment, which will be conducive to promoting a new round of innovation and entrepreneurship among small and medium-sized merchants.

The rise of male consumption power, surpassing "pet dogs"

In addition to the increasingly detailed track, compared to previous years, this year's "Double 11" male consumption has risen. Recently, "male consumption power surpasses pet dogs for the first time" has sparked heated discussions, which has also been reflected on major e-commerce platforms such as Tmall and JD.com.

A large number of people are buying Maotai and Wuliangye in boxes, "said Yiman, the president of Taotian Group Supermarket Business Development Center, in an interview with media such as Zhongxin Finance. Originally, men like to buy Maotai on the" Double Eleven ", but this year they are buying Maotai and various types of liquor, including Wuliangye, in boxes.

On November 10th, the live sales of 'Azuo Tavern' exceeded 460 million yuan, and the live sales of 'Jiuxian Liangge' exceeded 480 million yuan. "Taotian Group said that the outbreak of live streaming of alcoholic beverages has significantly increased the activity of male users on the platform. During the" Double 11 "period, the proportion of male users in live streaming rooms of alcoholic beverages has risen from the initial 20% to 65%.

The sales of digital products are also stable among male users. The opening 10 minutes of JD's "Double 11" show saw a 100% year-on-year increase in the transaction volume of many large brand smartphones such as Apple, Xiaomi, Huawei, and OPPO, many of which are male users.

"In addition, E-sports related, cycling related and Lego have become the 'new three treasures' for men to consume on the platform of' Double 11 '." Aowen said that the sales of popular games and handmade products are still growing, including the growth of male skin care products. "I was also surprised when I saw the data. Male perfume has now become a very popular category."

Domestic product butterfly transformation, the complete rise of "Double 11"

This "Double 11" is still a test of the complete rise of domestic products. Data from multiple e-commerce platforms shows that some domestic brands can compete with some international brands and even sell better on some niche tracks.

According to JD data, a large number of high-quality domestic products are selling well, with the consumption of domestic products by the post-90s and post-2000s accounting for 62%, becoming the absolute mainstay of domestic consumption. This year's "Double 11", agricultural specialty goods from over 2000 agricultural producing areas and industrial belts across the country, such as Suqian King Crab, 100% rock sugar apple from Aksu, Xinjiang, and lamb from Xilingol League, were sent to thousands of households. Changbai Mountain ginseng, Bozhou traditional Chinese medicine, Qinghai goji berries and other characteristic good products in the industrial belt continue to sell well.

On October 31, several data of Tiktok E-commerce broke through the annual peak. It is worth noting that domestic clothing brands have ushered in a shining moment, with Duck Duck, Bosden, and UR taking off the top three spots on the "Double 11" brand list in the clothing and women's clothing industry. Govan black gold down jacket, Bosden celebrity down jacket, and Duck Duck sprint jacket ranked in the top three on the "Double 11" brand explosive list.

During an interview, Yiman also talked about this situation. "This year, the hairy crabs in Xinjiang are selling very well, and the taste is also very good, and there is no difference between them and the hairy crabs in Yangcheng Lake. Originally, these hairy crabs were mainly sold locally, but this sales outbreak has caused local merchants to not even know how to package them for easy delivery to further away

On the Xiaohongshu platform, Chai Xiaodong, founder of the designer home furnishing brand Gedu, stated that our current growth and sales growth rate is very fast. On the one hand, because the number of designer furniture notes on Xiaohongshu exceeds 1.15 million, more and more designer furniture brands are opening stores and completing transactions in Xiaohongshu; On the other hand, the increasingly powerful design and manufacturing capabilities of China's furniture industry have led consumers to be more willing to pay for domestic designs and brands.

From this, it can be seen that, unlike many consumers who previously pursued imports, the concept of supporting domestic products has penetrated into the hearts of the new generation of consumers, which is closely related to the rise of domestic product quality. Owen believes that for both domestic and overseas brands, more and more young consumers are looking at them equally. The quality of domestic products is also very good, and I also like overseas brands. Global brands are placed at my disposal, and this shopping mentality is very healthy.

Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])

Mobile advertising space rental

Tag: the Perspective on Double The Dopamine Economy Outbreaks and