Double 11 2020 impressive record

Double 11 2020 has been extremely successful. Performances have surpassed expectations, over 74 bn US$ GMV were generated. All payments were processed through Alipay. And Over 30k international brands were involved, this was the biggest online shopping ever in the world. 

Over 2 million new products were being launched, twice as much compared to 2019 

11.11 confirms being the best moment for brands to launch new products and increase their awareness. This year the key was luxury, instead of being a discount-centric festivity, big brands like Coach, Hermes, Kenzo and many more took part in the biggest shopping event ever.

11.11 is looking more like a long-awaited event since big stars are taking part in Single’s day’s 2020 celebration. In 2019 Taylor Swift amazed the Chinese audience with her performance, this year Katy Perry and Jackie Chan will take part in the show aired just a few hours before 11.11 start. 

Livestreaming is becoming international. During this year’s 11.1, celebrities as former basketball player Magic Johnson and world-wide famous singer Taylor Swift have broadcast their own live streaming sessions.

This was by far the biggest online event ever, but this was a great time for retail shops too: over 210k offline retails participated and offered special coupons via the Alipay app.

Plus, the biggest Chinese fintech super app will help offline retailers to attract customers with special discounts in over 100 cities.

That’s why your marketing strategy can’t miss in Inland China, want to learn more? Just contact us!

Source: Alizila

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Double 11 2020 impressive record

Double 11 + CBEC a secret formula to win the market

Are you ready for this year double11 online shopping festival? It’s just one month from now! But, why you should care about #chinese singles’ day?

Here are some key facts about Double11 or 光棍节 (guān gùn jié). 

Since 2009, when it was launched by Tmall, this shopping festival was record-breaking (Alizilla). 

In 2013 11.11 results surpassed Black Friday and Cyber Monday sales combined, and became the most important shopping festival in the world and in 2015 it went global.

Last year 11.11 generated  38.4 bln US$ in GMV, the highest selling record of all-time! 😲

Plus, over 200 thousand brands joined it and more than 1 million products were launched. 

11.11 produced 2.5 times bigger sales than Black Friday and Cyber Monday combined. Generally speaking, online shopping festivals are the best opportunity to promote your brand through cross border eCommerce. 

Speaking of that, Secoo is the cross border dedicated to fashion & luxury, one of the most important platforms in China, which have combined traditional eCommerce with live streaming, or sale streaming. This is not just a selling channel, but an engaging and attractive media to let users know more about products and interact directly with them. 
Want to start your first #salestreaming? Contact us NOW to plan your cross border ecommerce + livestreaming strategy

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Double 11 + CBEC a secret formula to win the market

There’s more beyond Chinese New Year – Get our Business FREE guide

The Chinese market is an unmissable opportunity for brands aiming to expand: the explosion of the upper-middle-class in China will be the driving force for luxury brands, leading to an almost doubling of luxury spending by 2025, when Chinese consumers are expected to account for 40% of the global luxury market…

#BeyondCNY is a comprehensive report aiming to give you a deeper overview of Chinese Festivals, digital & social trends, and be on the right path of the Chinese consumers digital journey.

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There’s more beyond Chinese New Year – Get our Business FREE guide

The future of e-commerce: social-commerce

Chinese shopping habits differ from the rest of the world due to the tremendous reach of e-commerce and penetration rates of social media.

From this scenario is born social-commerce!

Due to the re-shaping of Chinese digital behaviors and an increasing number of sophisticated consumers, in particular from the upper-tier cities, and meticulous purchasers, from the rural cities, e-commerce platforms are changing their mechanism to face new customers’ needs.

The pervasive influence of Word-of-Mouth (WOM), the new tendency of Fear of Missing Out, jointly with instant gratification has led the rise of “casual shopping”.

Due to the unique digital landscape, China’s largest e-commerce platforms had to find a way to support brands with “Direct to Consumers” (DTC) e-commerce presence and it did it with the integration of social media + e-commerce = social commerce.

According to this general overview, we can easily understand that the 2 players of this latest EGGsist digital match, are traditional e-commerce vs social-commerce.

Let’s see together what social-commerce means and how it has changed the journey buyer and user interactions into e-commerce platforms.

Since 2014, e-commerce sales have more than doubled! The initiators of this rising in selling are:

  • the dedicated campaign during  seasonal events such as Singles Day, 5.20, 11.11 and so on; 
  • the increased adoption of digital wallet usage as Alipay and WeChat Pay, which are able to convey the user dedicated promotions,
  • and the creation of marketplaces for buyers and sellers integrated into only one platform.

According to WPP report, nowadays there are almost 650 million e-commerce users in China, averaging annual spending of CNY 6,104

In the past 5 years, e-commerce sales have grown by 255% with a total increase of CNY 7,427 billion, this is mainly thanks to the increasing purchasing power of consumers but also to the usage of mobile digital wallets which have made the purchase journey a seamless experience.

China social- distancing ecosystem 

6 ways to distinguish social-commerce from traditional e-commerce

If a platform has one of all of these features it can be considered as social commerce:

  1. Vertical for Community and in content 
  2. KOL – try first, share it later
  3. User-generated group   
  4. China gifting culture
  5. Turn social in dealership channel 
  6. New Retail for an O2O shopping experience

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The future of e-commerce: social-commerce

1st match of EGGsist digital game: Live-streaming

Recently, Chinese consumers’ habits have been “changed”! Although the outbreak, Western brands should keep on communicating with their Chinese consumers. The question loads of people are trying to answer to is “HOW”: how to engage them, how to “speak” with them?

The answer is pretty simple: #LIVE-STREAMING

Let’s take some inspiration from all the digital strategies you will discover throughout this article. Chinese consumers are first and foremost a “digital-savvy” audience, but in this period this trend showed an interesting rise.

What Chinese people are doing during these weeks? 

They have learned new #kitchen #recipes 

China’s live-streaming industry has shown a rapid increase during the last years and the virus is expected to accelerate the trend.

According to iiMedia Research, the Chinese users on the live-streaming platform have increased 10.6% year on year to 504 million in 2019, more than half of China’s total 854 million netizens. It is estimated that the figure will reach 526 million in 2020.

One sector which took benefit from live-streaming, during this period of homestay, has been the delivery order for flours on Ele.me. In fact, according to Alibaba’s data, it has surged over 700%  in the past week.

They will be back more “handsome” than before!

It is not a secret, Chinese consumers love cosmetics and beauty products, the trend also sees an increase in demand for men’s beauty products. During these weeks, “long-time-no-see looks” has become the new hot keyword in China! The number of consumers searching for face wash and shampoo products on Taobao grew 300% and 400% on February 17 compared to a month ago.

They will look slimmer and more healthy

The demand for rowing machines and yoga mats has increased over 250% in this period; as well as the request for Nintendo’s fitness game and the interest in live streaming sessions with celebrity athletes that teach workout lessons. The main platforms for fit sessions are AliSports and Youku!

They will know where to go next because they have “traveled” a lot during these weeks

 Fliggy, the Alibaba travel platform, has rolled out a virtual travel plan – from over 30 countries – collaborating with KOL and travel influencers. Chinese users have traveled around the world and they are ready to pack their luggage. 

Their passion for Italian Fashion has never been so #digital 

Chinese consumers do matter for fashion and for this reason, a lot of big brands as Gucci, Bottega Veneta, and Prada – during the Milan fashion week – have broadcasted online their fashion shows. Main platform > Little Red Book and Douyin!

Never stop dancing!

Chinese millennials have enjoyed their stay at home dancing with their music hero and friends! Douyin (Tik Tok) broadcasted live-dj performance letting their user dance on the app while listening to the music!

And you? What are you doing for your clients?

 Plan today your China strategy to be the winner of tomorrow!

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1st match of EGGsist digital game: Live-streaming