“ Double Eleven preview: is the price war enough?
Frankly speaking, although the level of attention is much lower than in previous years, various companies recently held their own Double Eleven press conferences one after another, which also seemed very lively.
After all, since this year, several major e-commerce platforms in China, such as Taotian, JD, Xiaohongshu, Pinduoduo, and Douyin, have each experienced business or organizational structure and personnel adjustments. For the three listed companies, Ali, JD, and Pinduoduo in particular, Double Eleven is an important stage for testing these adjustments and reshaping the capital market's confidence in the company.
At the same time, we have been stressing since the beginning of the year that consumption habits are gradually returning to their first principle — good quality and low price; after three years of masks, consumer confidence is still slowly recovering, and consumers are very careful about spending.
Under such a general trend, each platform launched its own fancy promotion method this year, and several of them continued their “X billion subsidy” campaign throughout the year. This allows consumers to buy sufficiently cost-effective products in normal times, so there is no need to concentrate on releasing demand on Double Eleven as in previous years.
What's more, the phenomenon of running away is getting worse year by year, stretching the Double Eleven front from the first two or three days to more than 20 days, and it no longer has the sense of ceremony of settling accounts at 12 o'clock at night. It can be said that today, Double Eleven has gradually lost its position of “aggregating traffic and promoting transactions”. This shopping festival, which was created by Ali, needs to find new value points in competition among various platforms.
It's also because of that,...