Tmall Double 11: More than 2.2 million small and medium-sized businesses doubled their transactions

As of 0:00 on November 11, more than 2.2 million small and medium-sized businesses on Tmall Double 11 have doubled their transactions.

Since the announcement of the establishment of the SME Development Center on May 10, Taobao Group has continued to increase its support for small and medium-sized businesses. During the 618 shopping festival, Taobao launched the Good Price Festival for the first time, allowing small and medium-sized businesses to take the center stage of the big promotion for the first time . During this year's Double 11, on the basis of comprehensively increasing investment in the Good Price Festival, Taobao further increased its support for new businesses, including providing 2 billion traffic promotion subsidies, launching exclusive marketing plans such as "opening rewards", and opening a new track for good products and good prices.

The effectiveness of these targeted measures has been fully reflected in the performance of small and medium-sized businesses.

During Double 11, more than 2 million new Taobao merchants received traffic subsidies , 130,000 small and medium-sized merchants received new merchant traffic acceleration packages, and Cainiao logistics subsidies also covered 500,000 Taobao small and medium-sized merchants.

With exclusive resources, new merchants can also participate in the promotion. The number of transactions for merchants participating in the "opening promotion" on the first day of Double 11 exceeded the daily average by more than 4 times. "Fashion Cat Gang" , a new merchant that just entered Taobao on September 5 , participated in the "opening promotion" event and made more transactions in the first 4 hours than in the past month.

Direct price cuts have also made it possible for new merchants to experience explosive growth. The "Y2NG Brand Enterprise Store" that entered Taobao this year is a trendy brand store opened by Chinese women's basketball "sisters" Yang Shuyu and Yang Liwei. On the night of the Double 11 sales, the transaction volume increased 100 times month-on-month, and the cumulative transaction volume is about to exceed one million.

The opening of the daily low-price track allows the "old tree" of Taobao to bloom "new flowers" on Double 11. The women's clothing store Xiangduoer started from a stall in Shahe, Guangzhou. It opened its first Taobao store in 2011 , and opened a Tmall store in 2012. It then developed omni-channels and returned its business center to Taobao in 2021. Currently, 70 % of the orders on the entire network come from Taobao, and this data has further increased on Double 11 .

Even a group of young entrepreneurs born in the 2000s have made their mark on Double 11. Yao Jing, a cartoonist born in 1999 , appeared on the Tmall Double 11 press conference for the first time as a representative of small and medium-sized businesses. The turnover of " Yao Jing 's Shop " on Double 11 increased fivefold month-on-month, and 1,000 orders of popular dolls were sold in one day. The owner of the Taobao shop "Xi Mama" that sells wedding dresses is a 2000-year-old. In the second month of opening on Taobao, the store caught up with the National Day "Golden September and Silver October" wedding peak, and the daily sales soared from 10,000 to 60,000. On Double 11, the small goal of one million was achieved.

The explosion of small and medium-sized businesses on Tmall’s Double 11 was actually foreshadowed.

In order to provide a better environment for new merchants to start businesses, Taobao has continued to optimize the business environment this year and launched a package of plans. The "Million New Merchants Star-Making Plan" is a typical systematic, full-cycle growth plan for new merchants, including 9 major benefits such as opening a store with zero deposit, traffic subsidies, logistics and delivery subsidies, free use of market management tools, free Taobao education courses, and exclusive companionship by store assistants , so that more small and medium-sized merchants can open their businesses efficiently, and growth paths are designed for different types of merchants.

A better business environment has also allowed Taobao to continue to attract all kinds of merchants to settle in, making it the preferred platform for entrepreneurship. Public data shows that in the past year, Taobao has added more than 5 million new merchants , of which 1.3 million are merchants born after 2000.

Hong Yong, an associate researcher at the E-Commerce Research Institute of the Ministry of Commerce Research Institute, believes that the current consumer market is showing characteristics such as segmentation and personalization . The country is also increasing its support for small, medium and micro enterprises. E-commerce platforms represented by Taobao are releasing positive news and creating a diverse and prosperous entrepreneurial environment , which will help promote a new round of innovation and entrepreneurship among small, medium and micro businesses .