Price power, merchant membership, and store live streaming are the three new growth engines. Tmall Double 11 will grow across the board in 2023

At midnight on November 12, the 2023 Tmall Double 11 came to an end. The user scale and merchant scale increased significantly, and the scale advantage was further expanded, driving the overall growth of order volume and total transaction volume. The brand achieved the most important business explosion in the year on Tmall .

As of midnight on November 11 , a total of 402 brands achieved sales exceeding RMB 100 million , of which 243 were domestic brands, and sales of 38,000 brands increased by more than 100% year - on-year .

Consumers showed greater enthusiasm for Tmall Double 11 , with the total number of users visiting the platform exceeding 800 million, a record high. The number of 88vip users exceeded 32 million, a new record, and the transaction volume increased by double digits year-on-year , showing the effectiveness of the "user first" strategy.

Merchants showed stronger enthusiasm for Tmall Double 11 operations , with the number of weekly active operators increasing by 150% year-on-year and the average daily number of merchants paying for advertising increasing by double digits year-on-year.

The price power effect has led to a simultaneous growth in user scale and merchant business. In the third-tier and lower-tier markets alone, Tmall's Double 11 shopping event this year added more than 20 million new purchasing users and over 140 million new orders.

Merchant membership has become a new growth dividend. As of midnight on November 11 , Taobao and Tmall have brought more than 100 million new members to merchants , and the number of merchant members on the entire platform has increased by nearly 30% year-on-year. Merchant member orders have increased by more than 100% for many consecutive days .

Store live broadcasts have ushered in a huge explosion. Among the 58 live broadcast rooms with sales exceeding 100 million yuan on the entire platform, store live broadcasts account for more than 60 %. 451 store live broadcasts have achieved sales exceeding 10 million yuan. Within the 4 hours of the pre-sale period, a brand live broadcast room achieved sales exceeding 100 million yuan for the first time.

Since the beginning of this year, the consumer market has continued to recover, with the growth rate of social retail and online retail steadily increasing. The overall growth of Tmall's Double 11 once again witnessed the vigorous vitality of the consumer market.

As consumption recovers, the market is also undergoing subtle changes, and consumers have higher requirements for brand power, price power, and product power. In order to better meet consumer needs, Tmall Double 11 maintained double -digit growth in 8 8 VIP transactions while focusing on user scale and order volume. Price power, merchant membership, and store live broadcasts have become new engines for platform transaction growth, and have also brought merchants a larger business scale.

Systematic low-price capabilities bring business boom

Good products and good prices have brought the greatest business opportunities to brands and merchants this year.

Compared with previous years, this year's Tmall Double 11 placed a clearer emphasis on price power. On the basis of cross-store discounts, it launched official instant discounts and everyday low prices on a large scale for the first time. 80 million products achieved the lowest prices of the year . It is estimated that the entire Double 11 cycle will save consumers more than 95 billion yuan.

Price power has brought about a significant increase in the scale of purchasing users. In the third-tier and lower-tier markets alone, Tmall added more than 20 million new purchasing users during this year's Double 11 event and received more than 140 million new orders.

This year, "low price" has become the focus of e-commerce, and Tmall's Double 11 price power is not an absolute low price . It emphasizes "good products at good prices" and "low prices but not cheap", striving for the best prices for consumers in every price range. This year, on Double 11 , the entire iPhone series reached the lowest price on Taobao with a 10 billion yuan subsidy , and the 10 billion yuan subsidy achieved an exponential explosion . On November 11 , the transaction volume increased by 699% year - on -year, and the number of purchasing users increased by 386% year-on-year .

Price power has also driven a significant expansion of the business scale of merchants. As of midnight on November 11 , the two new price power shelves, the order volume of "official instant discount" products exceeded 210 million, and the order volume of "everyday low price" products was nearly 90 million.

Let consumers benefit and let merchants make money, which is the original intention of Taobao and Tmall's price power. Since the beginning of the year, Taobao Group has formed a systematic low-price capability from the four aspects of supply, traffic, mechanism, and ecology . Merchants will have traffic when they lower their prices, and they will have transactions when they lower their prices. Data from October showed that the average traffic of low-priced goods on Taobao's entire network increased by 62.5 % . During the Double 11 period , the low-price capability was upgraded again, and traffic was immediately fed back after the price of goods was reduced, meeting the demand for rapid explosion during the promotion period.

Merchant membership = new growth dividend

The penetration rate of e-commerce is close to saturation today. Whoever has more active users, private domain users, more retention and repeat purchases will have greater growth opportunities.

As of midnight on November 11 , Taobao and Tmall have brought in more than 100 million new members to merchants , and the membership scale of merchants across the entire platform has increased by nearly 30% year-on-year . In many industries including apparel and fast-moving consumer goods , the membership scale has maintained double-digit year-on-year growth.

The continuous growth of merchant members has brought a large number of transaction conversions. During the Double 11 period , Taobao and Tmall merchant member orders increased by more than 100% for many consecutive days, including in many industries such as clothing, where the contribution of members was nearly 30%; repeat purchase orders from old customers recorded double-digit year-on-year growth for many days, among which the clothing, fast-moving consumer goods, sports and outdoor, food and other industries increased by more than 45% year-on-year for many days.

To help merchants benefit from private domain operations, Taobao and Tmall provided merchants with more exposure opportunities for fans, old customers, and members through five major measures such as free private domain tools and old customer return visits during Double 11 this year, which brought about a continuous improvement in the enthusiasm of merchants to operate . During Double 11 , the number of active private domain merchants doubled for many days.

Since the beginning of this year, more flexible prices for old customers and fans, a simpler and lower-threshold membership system, and more intuitive business advisory data have significantly enhanced the confidence of Taobao and Tmall merchants . The private domain of stores has become a core position for merchants to quickly accumulate reputation, activate members, connect with fans, and expand their business scale .

Store broadcasting explodes, Taobao and Tmall usher in the second half of live e-commerce

During this year’s Double 11 , Taobao Live ushered in a new round of ecological prosperity. 58 live broadcast rooms achieved transactions exceeding 100 million yuan , 14 of which exceeded 100 million yuan for the first time, and the top camp expanded significantly.

The performance of store live streaming was particularly outstanding, with 38 stores exceeding 100 million yuan in sales and 451 stores exceeding 10 million yuan in sales. The transaction growth rate of store live streaming in many industries such as Tmall consumer electronics, jewelry, sports and outdoor, home furnishings , and apparel was impressive.

The live broadcast room of FILA Tmall official flagship store achieved sales of over 100 million yuan in the first four hours of the Double 11 pre-sale, breaking the industry record and having symbolic significance. Qianye Jewelry became the first live broadcast room in the jewelry industry on Taobao Tmall to exceed 100 million yuan , and the penetration rate of store broadcast increased from 5% a year ago to 38.9%.

The explosion of store live broadcasting on Tmall's Double 11 was foreshadowed. This year, brands and merchants have been more active in deploying store live broadcasting. In the past year, more than 300,000 brands and merchants have opened live broadcasting on Taobao , of which more than 27,000 store live broadcasting rooms have achieved sales of over one million , and nearly 4,000 have achieved sales of over ten million.

In recent years, users have become more rational in their consumption decisions, and the rich information and real-time interaction of live e-commerce have become an important support for consumer decision-making. Live broadcasts by experts that undertake marketing tasks cannot fully meet user needs, nor can they help merchants achieve sustained transaction conversions. On Taobao, store broadcasts can connect with merchants' private domains to form stable crowd assets, and are increasingly favored by brands and merchants.

Taobao is the pioneer of live streaming e-commerce. Today, live streaming e-commerce has entered the second half, and Taobao has once again started the trend of store live streaming.

In May this year , Dai Shan, CEO of Taobao Group , announced the three major strategies of "user first, ecological prosperity, and technology-driven", aiming to increase active user visits, strengthen user stratification operations, further expand the rich supply of "omnipotent Taobao", and form a multiplier effect on the user side and the supply side. The technological capabilities represented by AI are the key support for amplifying the multiplier effect.

This year's Tmall Double 11 , the explosion of price power and merchant membership is a direct reflection of the "user first" strategy. Both the public and private domains have achieved the peak of Tmall Double 11 purchasing users in the past 15 years ; the rise of store live broadcasts is the result of the "ecological prosperity" strategy, opening up a new core business position for mature brands and small and medium-sized merchants. The emergence of these three new engines is inseparable from the upgrade and expansion of Taobao's series of AI tools, and technology is the core driving force.