In recent years, a variety of e-commerce shopping festivals have become popular and how many times do online consumers buying a lot? Global leading information and measurement company Nielsen found that, among all kinds of e-commerce sales, the “Double 11” shopping festival is still the most popular one, as 88% of the respondents say they know this event and compared with that of the last year, the total awareness for “Double 11” festival increases about 5%, meanwhile, more than 70% of the respondents said they would participate in this year's sales.
Nielsen’s data show that 43% of the respondents disagree with the idea that “the shopping experience during ‘Double 11’ is not so good as that during other e-commerce shopping festivals," and the vast majority of the consumers who are willing to participate in this year’s “Double 11” sales hold a positive attitude to this event.
Tommy Hong, vice-president of Nielsen China said: “Over these years, the ‘Double 11’ shopping festival has experienced the trial, the exploration, the outbreak multiple periods, and has gradually become mature. This day for consumers is a big shopping day, for shopping platform is a great time for new release, and for China’s economy, is of more significance for stimulating domestic demand. The ‘Double 11’ festival has already become the benchmark of Chinese consumption.”
“The 'Double 11' online shopping has become a shopping culture. With the steady growth of China’s economy, consumers are more willing to spend and the consumption upgrading becomes more obvious, which will further increase the consumption during this year’s ‘Double 11’.”
The Omni-channel Insight Report for ‘Double 11’ 2017 is based on Nielsen’s study of 31 provinces and autonomous regions and municipalities, covering the eastern, western, southern, northern and central regions in China.
In recent years, various types of e-commerce shopping festivals have emerged. Different platforms will launch diverse kinds of shopping festivals almost every month, mainly in the form of sales and promotion to attract consumers. However, Nielsen’s study shows that the “Double 11” and “Double 12” festivals still hold the highest recognition among consumers.
However, will consumers feel numb and will their enthusiasm be weakened in front of such dazzling festivals? Nielsen’s report found that this is true. 45% of respondents think they have doubt, especially on the authenticity of the sales, because there are too many e-commerce sales now. The residents in first-tier cities and high-income group question the most. 41% of consumers in the first-tier cities and 65% of consumers whose monthly income is more than 20,000 yuan have doubt. And 28% of the respondents think they are already tired of these e-commerce festivals. They just have a quick look at the advertisements and notifications of e-commerce festivals and hardly shop impulsively because of shopping festivals.
Have other e-commerce festivals shaken the position of “Double 11” festival in consumers’ minds? Nielsen’s report shows that only 7% of consumers choose not to shop during “Double 11” for other e-commerce festivals have already meet their demands. Most consumers abandon or reject “Double 11” festival because of some bad shopping experience before (73%). However, this could not change the fact that consumers still consider the “Double 11” festival as the most eagerly anticipated shopping carnival. 81% of the respondents said that despite the various types of other e-commerce shopping festivals, the “Double 11” is still the one in which they mostly want to participate and 83% of consumers believe that the “Double 11” event will continue to be popular in future.
“In recent years, domestic consumers have been quietly changing their response to the online shopping festival. Consumers' shopping habits are gradually moving from impulsive to rational consumption and the price is no longer the only factor in their shopping decision. The expectation of domestic consumers on online shopping festivals tends to be more reasonable. The match of the need of the purchase and the demand of themselves have become the core factor and consumers can know better recognize the sales and promotion strategies of sellers. Consumers can fully think about the goods they need and compare different kinds of products before placing an order and they no longer make impulsive consumptions simply because of promotional prices,” Hong Kai said.
For such an important e-commerce shopping carnival, what kinds of marketing strategies should be taken to attract consumers? And what are the most popular promotion methods for consumers?
Nielsen’s study shows that, with the growing popularity of smart phones, cell phones have become the most important equipment for e-commerce shopping. And the most popular marketing which ranks first is APP notifications, closely followed by WeChat platforms, and inside-site advertising also attracts much attention.
And in terms of promotion methods, the most popular one among consumers is the “direct discount prices”—the simplest and clearest way, followed by “pre-order reservations for discount”. Among the popular promotion methods, “extra gifts” and “gift coupons” rank the third.
The above results show that the key to attract consumers is to make use of e-commerce APP platform on mobile terminal and precise advertising on social platform during the “Double 11” shopping festival. E-commerce shopping often includes impulsive shopping and to seize the several seconds of consumers’ decision-making is really crucial. In this way, simple and direct discount can better attract consumers.
Today's consumers are no longer just in the pursuit of low prices; the quality and design of products are also the focus of consumers. “Buying something good” has become the common voice of consumers in this year's "Double 11" shopping carnival.
Nielsen’s study shows that over 80% of respondents express their willingness to purchase imported goods in this year’s “Double 11” carnival, among which consumers from first-tier cities (88%), consumers aged from 26 to 35 (83%), the married (84%), consumers who have received bachelor degree and above (83%) and consumers with a family income of more than 20,000 yuan show the highest willingness.
“With the rise of living standards, consumers’ demand for the quality of goods is also getting higher and higher. For the current domestic market, because of the strict checks on the imported goods from the Quality and Technology Supervision Bureau, consumers hold higher expectations for imported goods. Imported goods pay much attention to the quality and the health, the safety and the security, and the package design so that consumers eagerly seek after imported goods,” Hong Kai said.
He thinks that post-80s and post-90s in China will become the main force of the consumption market in the next 10 years. They have more diversified and more personalized demands for goods and services and focus on the commodity experience, which will definitely lead to the structural adjustment of the entire Chinese consumption market. A variety of global qualified supplies will to a large extent enrich the domestic market and ushered in the rapid development of imported goods in the domestic market.
Products with higher quality and better design are always accompanied by higher prices. Credit payment has become a new consumption concept— many consumers, especially young consumers hold the idea of advanced consumption. More consumers have accepted and have been willing to choose the internet credit payment. According to Nielsen’s study, 17% of the consumers in first-tier cities are willing to choose internet credit payment.
Nielsen found that consumers have gradually accepted credit payment. From a macro perspective, Nielsen’s survey on China’s consumer confidence shows that China’s economic indicators keep stable in 2017 and the CCI has also experienced stable growth. China’s consumption growth is in the leading position of the world. From a micro level, with the increasing maturity of online payment technology, payment experience and convenience is obviously better than traditional cash and card payment, and credit payment can also provide credit points, discounts and other value-added services.