New economy leads consumption upgrade

  More and more e-commerce companies pay more attention to the layout of offline markets, thereby promoting more integrated online and offline development, and better satisfying consumers’ more diversified consumption upgrade needs.
  The annual Double Eleven is coming as scheduled. As the largest online consumer shopping festival, the market is full of expectations for Double Eleven to stimulate consumption.
  Since the development of Double Eleven, it has changed from a simple online promotion activity to a major social and economic phenomenon. While achieving huge sales, it has also led to tremendous changes in the entire industry chain, which has effectively promoted the acceleration of the consumption structure. It has also led to the accelerated formation of new consumption, new models, and new business formats, and boosted the high-quality development of the economy.
  As an important part of the development of the new economy, the pace of the e-commerce live broadcast industry has been accelerating. Many companies have launched double eleven preparations, or pushed their own anchors, in-depth cooperation with contracted anchors, or increased short video delivery. Strive to create “explosive models”. The double eleven feast opens a window for consumption upgrading and economic development, which will help further revitalize the consumer market and demonstrate consumption vitality.
  Two-eleven stimulate consumption of high-quality development
  in recent years, two-eleven spending continue to record, not only highlights the huge potential of the domestic consumption in China, and has become a window to observe the economic vitality of our country. With the normalization of epidemic prevention and control, the Double Eleven e-commerce promotion will undoubtedly have a positive effect on stimulating consumption.
  This year’s Double Eleven is more adapted to the new situation and new requirements of consumption upgrades, and further releases the consumption potential of key consumer groups such as young people and young people. Effective use of emerging technologies to promote online and offline interaction and drainage.
  At 8 pm on October 20th, after Tmall and officially opened the pre-sale on Double Eleven, an army of “chop hands” swarmed in instantly, and the Taobao server that had been carrying on the Double Eleven war for many years collapsed and directly rushed to the hot search. First. “So you guys who don’t stay up late are so fierce?” Taobao’s response is a true portrayal of the popular consumption of Double Eleven.
  The double eleven e-commerce promotion, especially the widespread application of new models such as live streaming, will bring consumers a more convenient and fresh shopping experience.
  It is worth noting that as of 1 a.m. on October 21, the number of viewers in the live broadcast rooms of the two leading anchors, Li Jiaqi and Wei Ya, reached more than 200 million, and the total turnover in one day was close to 19 billion yuan. In addition, from 0:00 on the 20th to 16:00 on the 21st, the “What is Worth Buying” themed activity section of the consumer content community “Worth to Buy is “Double Eleven””, the GMV during the pre-sale period increased by 61% year-on-year.
  In the context of the continuous emergence of new models and formats such as live e-commerce, fresh food e-commerce, community group buying, and instant retail, a more digital and intelligent online retail market can reach target consumers more accurately and better meet Consumers’ individualized and quality consumer demand continues to promote the iterative upgrade of the online retail market and related supporting systems.
  In addition, Double Eleven expanded from online sales to offline physical commerce, injecting new vitality into the real economy. Double Eleven has accelerated the refinement, efficiency and scale of the express delivery industry process to a certain extent; promoted the continuous optimization of network information technology, and ensured the stable operation of network platforms and payment systems.
  During the Double Eleven period, all e-commerce platforms have upgraded their services to acquire more consumers in the sinking market with low prices, good products, innovative promotional activities, and convenient shopping experience, which further expands the consumption growth space and drives consumption to a higher level. Quality development.
  Sales of billions of dollars of small and medium brands surge
  driven by consumption growth, a series of cost-effective, trendy design, in line with the tastes of young consumers popular domestic brand merchandise, will help promote the consumer goods industry supply-side structural reforms to promote the formation of A higher level of dynamic balance between supply and demand provides a strong impetus for smoothing the domestic circulation.
  Judging from the data released by the e-commerce platform, the vitality of this double eleven small and medium-sized brand has greatly increased. As of 0:45 on November 11, Tmall has 411 small and medium-sized brands with a turnover of more than one million last year, and sales exceeded 10 million this year; there are 40 brands with a turnover of 10 million on Double Eleven last year. Double Eleven turnover exceeded 100 million yuan. calculated from 20 o’clock on the 10th, the turnover of home appliances exceeded 2 billion yuan in 5 minutes. Among them, entertainment TVs, partition washing machines, fresh air air conditioners, and floor scrubbers all increased by more than 5 times year-on-year; the turnover of high-end notebook computers increased by 260% year-on-year, and the turnover of infant edible oil and condiments increased by 30 times year-on-year.
  The popularity of domestic products continues to heat up. Big data shows that this year’s Double Eleven domestic products search interest rose 43%, the largest increase in the past three years. Classic domestic brands such as Huawei, Xiaomi, and Anta are at the forefront of the hot list, covering all consumer areas of the life of the whole people. The search attention of brands such as Adopting a Niu, Yadi, and Hongxing Erke has grown strongly this year. They have won the favor of domestic consumers through more national-style designs and higher-quality products.
  Li Yongjian, a researcher at the Institute of Financial Strategy of the Chinese Academy of Social Sciences and a professor at the University of the Chinese Academy of Social Sciences, believes that the hot data on Double Eleven shows that the confidence of Chinese consumers has been fully restored and the trend of consumption upgrades still exists.
  Online and offline linkage promotion has become a new trend
  about the same time, there are numerous online shopping cart is empty. The demand for quality upgrades is concentrated, live streaming has become an important sales method, and new domestic products have become a new growth point in consumption… Consumers’ pursuit of diversified, personalized, and high-quality products reflects the good momentum of consumption upgrades in my country.
  According to data from the National Bureau of Statistics, in the first three quarters of this year, the nation’s per capita consumption expenditure on services increased by 23.4% year-on-year in nominal terms, which was 7.6 percentage points faster than the per capita consumption expenditure of residents. During the Double Eleven this year, the sales of service products were booming, and e-commerce platforms have expanded their business to offline service areas, such as home decoration, housekeeping services, travel hotel reservations, car maintenance and repair, etc. Online and offline linkage promotion and sales have become a new trend .
  The Double Eleven e-commerce promotion will help increase online penetration and further consolidate the driving effect of online sales on consumption. At the same time, more and more e-commerce companies are paying more attention to the offline market, thus promoting more integrated online and offline development, and better meeting consumers’ more diversified consumption upgrade needs.
  With the increase in the income level of residents, for most families, whether in urban or rural areas, the expenditure on durable consumer goods is no longer the main goal of consumption. The expenditure on catering, daily necessities and services, education and entertainment, medical care and other services is no longer the main goal of consumption. The proportion gradually increased. While people are pursuing higher-quality physical goods, the demand for high-quality services, an “invisible commodity”, is increasing day by day.
  For example, the expansion of the scale of housing leasing has spawned specialized and institutionalized housing leasing companies, constantly enriching the variety of related services; the optimization and upgrading of automobile consumption can promote the release of market potential in related competitions, tourism, modification and other fields; application of VR equipment, etc. Intelligent physical products can intuitively present intangible services to consumers through simulated experience, interaction and other methods, boosting the increase in service consumption willingness.
  The new economy has further promoted the consumption upgrade of residents by accelerating product and service innovation, new consumption scene innovation, and improving the level of the supply chain. Consumption upgrades provide companies with an opportunity to overtake on a curve, allowing the Internet to better integrate with manufacturing, consumer and production, and produce more new products that go in the same direction as consumption upgrades. The new growth achieved in this round of economic structural adjustment can further improve the efficiency and quality of the entire economic supply side.