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Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

Tech 2024-11-14 11:23:11 Source: Network
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Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends EmergeOn November 14th, Douyin E-commerce released a data report for the 2024 Douyin Mall Double 11 Good Goods Festival, showcasing the platform's merchants business performance and overall consumer trends during the Double 11 promotion. The report shows that numerous merchants leveraged the Double 11 promotion to achieve business growth, the platform's live streaming scene witnessed a strong surge, and the creator ecosystem continued to thrive

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

On November 14th, Douyin E-commerce released a data report for the 2024 Douyin Mall Double 11 Good Goods Festival, showcasing the platform's merchants business performance and overall consumer trends during the Double 11 promotion. The report shows that numerous merchants leveraged the Double 11 promotion to achieve business growth, the platform's live streaming scene witnessed a strong surge, and the creator ecosystem continued to thrive. In addition, the transaction volume driven by the shelf-based platform continued to rise, accounting for 42% of the overall market share. Besides, Douyin E-commerce upgraded its service benefits during the Double 11 promotion, contributing to the enhancement and expansion of consumption.

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

Merchant Business Growth, Live Streaming Scene Experiences a Strong Surge

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

During the Double 11 promotion, Douyin E-commerce platform witnessed a significant number of businesses achieving growth. Data indicates that from October 8th to November 11th, over 33,000 brands saw their transaction volume double year-on-year, nearly 17,000 brands experienced a transaction volume growth exceeding 500%, and over 2,000 single products achieved transaction volumes exceeding 10 million yuan. Simultaneously, the live streaming scene demonstrated a robust surge, and the creator ecosystem continued to prosper. During the promotion period, a total of 275 brands achieved transaction volumes exceeding 100 million yuan through live streaming sales. 111 e-commerce creators achieved transaction volumes exceeding 100 million yuan in their live streaming rooms, over 470,000 e-commerce creators witnessed a doubling of their transaction volume compared to the previous year, and nearly 250,000 e-commerce creators experienced a transaction volume growth exceeding 500%.

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

Shelf-based Platform Drives Continuous Improvement in Transaction Volume

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

Beyond live streaming sales, the transaction volume from the shelf-based platform continued to rise, accounting for 42% of the overall market share, with a 170% year-on-year increase in the transaction volume for "super value purchases". To assist merchants in more effectively "driving transactions, expanding customer traffic, and reducing costs", Douyin E-commerce implemented targeted support measures, such as reducing freight insurance costs, waiving commissions, and introducing "the most substantial ever" favorable policies for new merchants, facilitating their rapid market entry. For instance, new merchants joining in November can enjoy a 100% return on their first month's commission. Data reveals that during the Double 11 promotion, average merchant freight insurance costs decreased by 24%.

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

Upgraded Service Benefits, Contributing to Consumer Enhancement and Expansion

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

While contributing to consumer enhancement and expansion, Douyin E-commerce consistently prioritizes the consumer shopping experience. During the Double 11 promotion, the platform upgraded service benefits, including "fresh produce refund if spoiled", "home appliance trade-in", and "jewelry pre-inspection before delivery". During the promotion, the "refund if spoiled" service led to a year-on-year increase of over 100% in related product orders.

Douyin E-commerce Double 11 Data Report: Merchants Businesses Grow, Consumer Trends Emerge

Industrial Belt Merchants Gain Recognition, Origin-Sourced Quality Products Receive Favor

The rise of live-streaming e-commerce presents new growth opportunities for merchants from industrial belts across the country. By the end of 2023, Douyin E-commerce had covered 684 characteristic industrial belts nationwide. Before and during the Double 11 promotion, numerous small and medium-sized merchants joined Douyin E-commerce seeking business opportunities. The report shows that the number of new merchants participating in the Double 11 promotion for the first time increased by 33% compared to the previous year, the average daily sales revenue of new merchants increased by 45% compared to the previous month, and the number of new merchants achieving transaction volumes exceeding 10 million yuan increased by 32% year-on-year. Apparel, fresh flowers and plants, and fruits and vegetables are among the industries where new merchants are more actively joining.

To assist merchants in leveraging the promotional momentum and expanding their brand influence, during the Double 11 promotion, Douyin E-commerce conducted promotional campaigns at the source of multiple industrial belts, including Hunan Pingjiang spicy snacks, Zhejiang Haining fur, and Tongxiang cashmere and wool. Data reveals that the transaction volume of Hunan spicy snacks, such as spicy strips and dried tofu, increased by 60% year-on-year, and the number of products sold increased by 112% year-on-year. With the arrival of autumn and winter, various warm clothing items entered the peak sales season, and the Haining fur industrial belt witnessed a daily sales growth exceeding 78%, selling over 17,000 fur items daily. The Tongxiang cashmere and wool industrial belt experienced a daily sales growth exceeding 40% year-on-year, selling over 354,000 related products daily, cultivating over 100 products with sales exceeding 10,000 units.

Additionally, Douyin E-commerce's agricultural assistance program, "Golden Origin Plan", also deepened its efforts in Sichuan, Henan, Yunnan, Heilongjiang, and Fujian provinces during the Double 11 promotion, connecting local high-quality agricultural products with broader markets. The report shows that the transaction volume of Henan Xinyang chestnuts, known for their delicate and sweet flavor, increased by 137% year-on-year. Following closely were Yunnan Ailao Mountain ice sugar oranges and Fujian Pinghe honey pomelos, achieving a 130% and 124% year-on-year increase in transaction volume, respectively.

Trade-In Promotes Consumption, Lazy Homebody Economy Booms Home Appliance Sales

In recent years, the pursuit of "value for money" has become a common consensus among young people. Coinciding with the national launch of the "trade-in" policy for durable consumer goods, numerous merchants seized the opportunity of the Double 11 promotion, demonstrating a strong momentum. During the promotion, Douyin E-commerce also announced the upgrade of the "trade-in" service for home appliances, establishing a special venue for government subsidies and collaborating with nearly 200 brand merchants, including Midea, Haier, Gree, Xiaomi, and Lenovo. The platform recorded over 60,000 live streaming sessions for "government-subsidized" home appliances. Data shows that major home appliances, such as air conditioners, washing machines, and washer-dryer sets, experienced significant sales growth during the Double 11 promotion on Douyin E-commerce, with a 151%, 80%, and 202% year-on-year increase in transaction volume, respectively.

The end of the year is also a peak season for consumers to purchase new electronic products. On Douyin E-commerce, tablet computers, XR devices, and other product categories witnessed a 95% year-on-year increase in transaction volume. Various photography equipment sales were brisk, among which the transaction volume of mirrorless cameras, digital cameras, and instant cameras all exceeded 200% year-on-year.

Simultaneously, the report also conveys the home appliance consumption trend among young people: The "lazy homebody economy" is prevalent, and young people who are busy with work generally seek to achieve a refined lifestyle that prioritizes comfort and affordability, driving sales of a range of home appliances. During the Double 11 promotion, juicers, shoe washers, and soup makers ranked among the top three most popular small household appliances, with a 202%, 193%, and 179% year-on-year increase in transaction volume, respectively.

National Style and Trend Leading Fashion, Self-Indulgent Consumption Becomes a Trend

Every year, the Double 11 campaign presents a great opportunity for fashion enthusiasts to purchase seasonal apparel and new beauty products. During the Double 11 promotion, hashtags like WhatToStockUpOnForDomesticBeautyProducts, LastYearItWasMellaredThisYearItsYaDanStyle, and OneHundredWaysToWearASweatshirtInCleanfitStyle sparked online conversations on Douyin. The vibrant demand for self-indulgent consumption resonates with quality products and content, culminating in a surge in consumption. Data shows that 365 beauty products achieved transaction volumes exceeding 10 million yuan, with eye serums, scalp care products, and eye masks being the most popular beauty and personal care products.

Similarly, brand apparel sales skyrocketed during the Double 11 promotion, with 116 women's clothing brands achieving a 100% increase in sales and 68 women's clothing brands achieving a 200% sales increase. Various shark pants garnered significant popularity among female consumers, resulting in a 97% year-on-year increase in transaction volume. Windbreakers led the outdoor clothing category, with over 590 single products achieving a transaction volume exceeding 1 million yuan. Fashionable men are enthusiastically purchasing new clothes on Douyin, leading to a 153% increase in the daily transaction volume of trendy menswear compared to the previous month.

Leveraging the concept of all-encompassing interest-based e-commerce


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