“Online shopping festivals, as major promotional events during the year, have entered a stage of slower development, and there have been increasing complaints from consumers. Despite that, they remain appealing to consumers and spending during these festivals continues to increase. To drive long-term growth in online shopping festivals, brands and platforms should focus on enhancing consumer enjoyment by providing straightforward discounts and engaging experiences. Meanwhile, brands should shift focus from simply promoting sales to leveraging these opportunities of interaction with consumers to further enhance brand loyalty.”
– Binyan Yao, Research Analyst
This Report looks at the following areas:
- Changes of spending by category during online shopping festivals from 2020 to 2021
- Key reasons for participating in online shopping festivals
- Key frustrations with online shopping festivals
- Key activities improving shopping experiences during online shopping festivals
- Interest in participating in future online shopping festivals
- Attitudes towards online shopping festivals
Collapse All
-
Overview
- What you need to know
- Key issues covered in this Report
- Covered in this Report
- What you need to know
-
Executive Summary
-
- The market
- Double 11 GMV trending down
- Figure 1: Tmall Double 11 GMV, 2012-21
- Growth of online retail slowing down
- Online retail user numbers reaching saturation
- Platform preference for online shopping festivals tend to diversify
- Companies and brands
- Competition being increasingly fierce
- Promoting sustainability in online shopping
- Elevating shopping experiences
- Adding ethical elements to the shopping carnival
- Advocating rational consumption
- The consumer
- Growth mainly from necessities, with more rational consumption
- Figure 2: Change of spending by category during Double 11, 2021
- Discounts primarily driving consumption
- Figure 3: Reasons for participating in online shopping festivals, 2021
- Shopping experience marred by pricing complexity
- Figure 4: Frustrations with online shopping festivals, 2021
- Simple and direct discounts driving consumption
- Figure 5: Activities improving shopping experiences during online shopping festivals, 2021
- High interests in future online shopping festivals
- Figure 6: Interests in future online shopping festivals, 2021
- Elevating shopping experiences and better communicating with consumers
- Figure 7: Attitudes towards online shopping festivals, 2021
- What we think
-
-
Issues and Insights
- Focusing on delivering the core value of online shopping festival
- Elevating experience to be more engaging
- Figure 8: Offer for Every Girl, 2021
- Taking the opportunity to bond with consumers
- Figure 9: Yongpu’s “limited forest flavoured coffee concentrate” with Ant Forest, 2021
- Focusing on delivering the core value of online shopping festival
-
Market Overview
- Double 11 GMV trending down
- Figure 10: Tmall Double 11 GMV, 2012-21
- Double 11 GMV trending down
-
Market Factors
- Growth of online retail slowing down
- Figure 11: Online retail sales of physical goods in China, 2015-21
- Online retail user numbers reaching saturation
- Figure 12: Number of online shopper and share of netizens, 2016-21
- Platform preference for online shopping festivals tend to diversify
- Figure 13: Change of Double 11 spending by channel, 2021
- Growth of online retail slowing down
-
Key Player Performance
- Alibaba sees slower quarterly growth, focusing on improving experiences
- JD enjoys rapid growth in revenue and GMV
- Pinduoduo experiences strong growth, differentiating by selling fresh products
- Short video platforms are emerging to be challengers in ecommerce
- Alibaba sees slower quarterly growth, focusing on improving experiences
-
Market Highlights
- Promoting sustainability in online shopping
- Figure 14: Cainiao’s Green Recycling Box, 2021
- Elevating shopping experiences
-
- Figure 15: Tmall’s Metaverse Art Exhibition, 2021
- Adding ethical elements to the shopping carnival
- Figure 16: Taobao’s Senior Mode, 2021
- Advocating rational consumption
- Figure 17: Buy Less, Demand More, 2021
- Promoting sustainability in online shopping
-
Purchased Categories
- Growth mainly from necessities, with more rational consumption
- Figure 18: Change of spending by category during double 11, 2021
-
- Figure 19: Change of spending by category among purchasers during double 11, 2021
- Catering to the needs of multi-generation families
- Figure 20: Spending more on the selected categories during Double 11, by living situations, 2021
-
- Figure 21: IKEA’s showrooms for multigenerational families, 2021
- Growth mainly from necessities, with more rational consumption
-
Reasons for Participation
- Discounts primarily driving consumption
- Figure 22: Reasons for participating in online shopping festivals, 2021
-
- Figure 23: Considering “to get a better price” the reason for participating in online shopping festivals, by age, 2021
- Enjoyment being a key motivator for participation
- Figure 24: Selected reasons for participating in online shopping festivals, by gender, 2021
- Leveraging sales seasons to increase brand awareness
- Figure 25: Selected reasons for participating in online shopping festivals, by consumers who agree that one can enjoy the same promotions at ordinary times without waiting for online shopping festivals and who do not, 2021
- Discounts primarily driving consumption
-
Frustrations with Online Shopping Festivals
- Shopping experience marred by pricing complexity
- Figure 26: Frustrations with online shopping festivals, 2021
- Simplicity and transparency key to attract younger consumers
- Figure 27: Selected frustrations with online shopping festivals, by age, 2021
- Shopping experience marred by pricing complexity
-
Activities Improving Shopping Experiences
- Simple and direct discounts driving consumption
- Figure 28: Activities improving shopping experiences during online shopping festivals, 2021
- Early pre-sale time in line with rational consumption
- Figure 29: Considering “Early pre-sale time” improving shopping experiences during Double 11, by consumers who agree that online shopping festivals would give rise to impulsive purchases and who do not, 2021
- Shared shopping carts appealing to consumers subjected to family/friends’ influence
- Figure 30: Considering “Sharing shopping carts with friends via one click” improving shopping experiences during Double 11, by consumers who are influenced by families/friends to participate in Double 11 and who do not, 2021
- Simple and direct discounts driving consumption
-
Interests in Future Online Shopping Festivals
- High interests in future online shopping festivals
- Figure 31: Interests in future online shopping festivals, 2021
- Harnessing the potential of “Silver Hair Economy”
- Figure 32: Interests in selected future online shopping festivals, by age, 2021
- High interests in future online shopping festivals
-
Attitudes towards Online Shopping Festivals
- Elevating shopping experiences to increase consumer loyalty and boost growth
- Figure 33: Selected attitudes towards online shopping festivals, 2021
-
- Figure 34: BFC’s pet-friendly map, 2021
- Rising awareness of rational consumption
- Figure 35: Selected attitudes towards online shopping festivals, 2021
-
- Figure 36: Selected reasons for participating in online shopping festivals, by consumers who agree that online shopping festivals would give rise to impulsive purchases and who do not, 2021
- Elevating shopping experiences to increase consumer loyalty and boost growth
-
Appendix – Methodology and Abbreviations
- Methodology
- Abbreviation
- Methodology
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