13 de December de 2024 - zeumat
Over the last month, the Double 11 Shopping Festival reached record-breaking sales figures, with key categories such as home appliances, smartphones, and fashion leading the transactions. This event once again demonstrated the steady growth of e-commerce in China, driven by innovation, quality, and the cultural connection between brands and consumers.
In the home appliances sector, sales totaled 193 billion yuan (+26.5% YoY), with Haier and Midea leading the way thanks to trade-in programs offering smart, energy-efficient models.
In smartphones, sales hit 170.6 billion yuan (+23.1% YoY), with Xiaomi and Oppo at the forefront, driven by innovations such as AI-powered features and longer battery life.
In fashion, the category reached 166.4 billion yuan (+21.4%), with Li-Ning standing out by combining modern trends with traditional Chinese design, appealing to younger consumers.
The cultural movement “Guochao”, which celebrates local design and aesthetics, continues to be a significant trend among China’s Gen Z. According to Kantar, 42% of Gen Z consumers are increasingly drawn to Chinese brands, boosting demand for local products in sectors such as fashion and home appliances.
Live commerce continues to be a driving force within China’s e-commerce market. During the Double 11 Festival, live streaming sales totaled 332.5 billion yuan, with Douyin leading the segment, while JD Livestream experienced impressive growth at +3.8 YoY.
According to the latest report from Syntun, total sales during the Double 11 Festival amounted to 11.1 trillion yuan (+54.6% YoY). Platforms like Tmall continue to dominate the market, with 589 brands surpassing 100 million yuan in sales (+46.5%).
Meanwhile, Pinduoduo recorded the fastest growth, followed by JD.com. This shows how technology and digital access are continually redefining the shopping experience in China.
Additionally, instant retail and group buying are emerging as key consumer trends. During the festival, instant retail sales reached 28.1 billion yuan, while group buying totaled 13.8 billion yuan, driven by platforms like Pinduoduo Grocery and Meituan Select.
The success of the Double 11 Festival highlights the importance of cross-border e-commerce in China, where technology, innovation, and live commerce strategies are redefining the relationship between consumers and digital shopping. With these evolving business models, the future of e-commerce in the country looks promising and poised for continued growth.
The Double 11 Shopping Festival is not just a shopping event but also a demonstration of the most innovative trends in digital commerce, setting the stage for companies aiming to leverage technology and connectivity in the region.
Written by Wenyang Zhong
Source: Kantar
