CBN Friday Special丨2023 Double 11 watch: The “lowest offer” game and the trend of “reverse spending”

金才经网——专业的财经网站-中国金融财经门户网站　文稿合作 QQ：58061970 电话：18957101161

21世纪经济报道 2023-11-10 20:04:00

分享到：

Double 11, an annual event that equals to a nationwide shopping bonanza, is set to reach its climax tomorrow after having spread for weeks, perhaps the longest format ever.

There was a time when Singles Day was a one-day online shopping festival on Nov 11 in China. Over the years, it has evolved into an online-and-offline shopping extravaganza, besides providing a platform for product and brand launches and introducing a myriad of innovations. It has also become a highly anticipated event for Chinese consumers who eagerly await deep discounts and promotions from their favorite brands and retailers.

This year’s shopping festival also adds significance to consumption recovery as it comes after the country had optimized its COVID-19 response measures. Since early 2023, the Chinese government has taken a series of proactive measures to promote economic development, focusing on expanding domestic demand and stimulating economic entities.

According to data from the National Bureau of Statistics, China's consumer goods market continued to recover in the first three quarters of 2023. The total retail sales of social consumer goods increased by 6.8 percent year on year. Notably, in August and September, market sales growth accelerated for two consecutive months, further consolidating the recovery trend in the consumer market.

Against the backdrop of consumption recovery, market improvement, and sustained online shopping popularity, China welcomed its fifteenth Double 11 online shopping festival, with major internet platforms gearing up for success in this post-pandemic event.

This year's shopping carnival seems to have gotten off to a good start. On Tmall, 29 live studios and 155 brands, including Apple, Haier, Huawei, Fila, Xiaomi, and Nike, have had turnover of more than 100 million yuan each since the platform kicked off Double 11 began at 8 p.m. on Oct. 31. Within one hour, more than 70,000 brands had achieved the sales value they scored last year. There were 29 livestreaming rooms that broke the 100 million yuan mark right after the festival started.

On JD.com, another e-commerce giant in China, merchants also reaped considerable turnover as consumers responded to tens of billions of yuan in subsidies and the launch of big brand low-priced goods.

In less than four minutes after the activity started, the transaction value on the subsidy channel exceeded 100 million yuan. Almost 30 brands had sales in excess of 1 billion yuan each on JD.Com since the e-commerce giant launched Double 11 promotions on Oct. 23. Nearly 15,000 brands logged a more than six-fold jump in turnover from a year earlier, while the volume of business at almost 9,000 brands surging over 10 times.

According to Pinduoduo’s data, more than 20 categories saw sales growth double in the first three days of this year’s event.

The “lowest price” game

Maintaining last year's features - including a lack of fancy galas and eye-catching promotions - this year's Double 11 shopping bonanza arrived in a low-profile way.

E-commerce platforms are taking a more pragmatic approach this time and making their promotional methods simpler, with emphasis on low-priced products, which should attract price-conscious customers, improve user loyalty and repurchase rates, and bolster sales.

Both Alibaba and JD face intensified competition from video-sharing and livestreaming platforms, including Douyin and Kuaishou, which are betting big on e-commerce in livestreaming format.

With the continuous promotion of major e-commerce platforms, Double 11 has become one of the largest shopping carnivals in the world. However, in recent years, consumers' enthusiasm for the Double 11 has gradually declined, and the e-commerce industry is facing huge challenges. In this context, price wars have become an important means for e-commerce platforms to attract consumers.

As the so-call “lowest offer” once again becomes the centerpiece for Double 11, controversies emerge over who defines the “lowest” price. The latest fallout surrounding top livestreamer Li Jiaqi, known as the “Lipstick King”, is one of the thorniest example.

Not long since his on-air meltdown, Li came under fire again during this Double 11 season for alleged unfair agreements and monopoly. It started on Oct 24 when kitchen appliances brand Huaswirt accused JD.com of deliberately lowering the price of its products, causing it to violate a lowest-price agreement with Li’s Tmall livestream channel.

JD.com in turn alleges Li’s agency forces brands to make “either-or” choices between platforms and to commit to the lowest price on Li’s channel. A rival influencer from competitor platform Douyin also accused Li of “holding brands hostage” with his large sales number and causing brands to drop out of other channels.

A purported leaked agreement from Li’s agency MeiOne also confirmed that brands need to refund 5 times the price to consumers if the price on another platform is lower than on Li’s channel, as well as paying 2 million yuan to MeiOne in compensation.

MeiOne denied all allegations and Huaswirt corroborated its denial that there was no lowest-price agreement. However, the attacks from netizens and competitors did not stop and Li landed on Weibo’s Hot Topic list 10 times in 24 hours.

The Anti-Monopoly Office from Shanghai Municipal Administration for Market Regulation has announced that it is investigating allegations that Li Jiaqi manipulates prices.

As a result, Li reportedly sold 9.5 billion yuan in goods on the first day of Alibaba’s annual shopping festival, a slump of more than 50 percent on his daily record of 21.5 billion yuan last year.

However, low-price agreements are common in livestream shopping. It is actually Li’s ability to drive sales that attracted exclusive deals and prices from brands to his channel. With the lowest price guaranteed by brands, Li’s channel in turn drive sales further, creating a positive feedback loop. But with accusations of his large cut of the brand’s profit, as well as the recent meltdown controversy, Li has become an easy target for both competitors and consumers.

Leaning towards rationality

As China’s biggest shopping event of the year turns fifteen, the frenzied shopping fades away, and a new mindset instead prevails.

Hopes for a “revenge consumption” spree were dashed early in the year as “rational consumption” and “price-to-performance ratio” settled in as the post-pandemic keywords. One article that recently hit Weibo’s top searches went so far as to say younger consumers are “spending in reverse”.

This elusive new term “reverse consumption” has much the same meaning as rational consumption – cost-effectiveness is king.

But instead of a much-feared “consumption downgrade", the author of the original Weibo article about “reverse consumption” made explicit that the trend does not equal a large-scale downgrade. Terms like rational consumption and reverse consumption in fact，describe consumers avoiding impulsive spending and considering purchases carefully.

So it may appear that consumers are tightening their belts and spending less, yet what this shift truly signifies is a more value-driven approach. So “spending in reverse” is not to say consumers are no longer willing to pay a premium for quality, but simply that they are far more skeptical about what is considered quality – and who gets to define it.

This mindset is a natural consequence of consumption upgrade, the most recent phase of which saw technological upgrades transform smartphones and social media into the ultimate commerce hub. Consumers are unwilling to compromise on quality, as the preceding era of “upgrade” has cultivated a more discerning customer base.

The recent PR crisis of C-beauty success story Florasis drove this message home. Even the most persuasive marketing tactic of all – guochao or “China chic” – holds little clout if it’s not backed up by quality products with well-justified prices. China’s consumers are not convinced that splashing out on the grounds of a brand’s reputation or exclusivity is a good pay-off. Brand name is not enough.

Major e-commerce platforms have also captured this emerging trend in China's consumer market. Apart from attracting consumers through "year-round lowest prices", platforms have stated that they do not intend for every brand to compete solely on price. Catering to a value-driven approach, greater emphasis are be placed on providing better services with higher cost-performance ratios.

For instance, Tmall launched slogans like “rational consumption” and “cost-effective shopping” and JD.com advocates “quality living” and “green consumption”, while VIPshop emphasizes “authentic guarantee” and “high quality at low prices”.

Whether consumers are considered “rational” or “in reverse”, the years ahead may be the start of the next biggest marketing challenge for brands and retailers as the framing of shopping festivals will be everything.

They may also have to change their own expectations. If retailers can stop trying to “win” at shopping festivals and think of it instead as a chance to better understand how their products compare with others’ offerings, increase visibility, and improve quality, Double 11 may just be able to stay relevant.

又到了一年一度的双十一。

早在10月下旬，双十一购物狂欢节就已提前打响战鼓，为此准备已久的各大电商平台也纷纷祭出了大招。

先是快手先声夺人，于10月18日开启预售，紧接着，抖音也在10月20日启动现货销售，同一天，唯品会、拼多多加入战场，体量更大的京东、淘系电商则将开幕时间分别定在10月23日和24日。

作为疫情防控平稳转段后首个双十一，今年其表现备受期待。进入10月下旬，电商平台相继公布了双十一大促开局成绩单。整体看，不少电商平台和品牌的开门红销量均取得了不俗的成绩，“理性升级”成为消费新趋势。另一方面，各大电商平台多以“低价”为主题，促销力度持续加码成为共识。

除了淘宝天猫、京东、拼多多、抖音等电商平台外，美团、飞猪以及小红书等平台也结合自身优势积极参与双十一大促中来，这也为本届双十一注入了新活力。

10月23日晚间，京东发布的战报显示，开售10分钟下单用户数、成交订单量同比增长均超4倍。百亿补贴商品数量达到618时的两倍，开售五分钟成交额破亿。

10月31日晚8点，天猫双11正式开售。据天猫公布的数据显示，开售首日，29个直播间和155个品牌开卖成交即破亿，首小时7.19万个品牌成交额超去年首日全天，7万多个品牌首小时成交超过去年双11全天。

26日，拼多多发布了11.11大促开门红战报，数据显示，超过20个类目实现翻倍增长。大促期间，拼多多百亿补贴用户规模突破6.2亿。

不少券商看好今年双十一对消费增长的拉动作用。国信证券表示，2023年双11大促节奏与去年类似，玩法回归简单化。综合各平台发布的大促节奏，整体大促周期接近一个月。而在打法上，主流平台均更加侧重方式简便、优惠力度更大的方式，增强对消费者的吸引力，一定程度上也较为符合当前的居民消费习惯和注重性价比趋势。

数据显示，网购依然是消费者青睐的购物方式之一。据商务部网站20日消息，网络零售拉动消费效应显著。前三季度，全国网上年货节、双品网购节共举办系列活动100余场，充分挖掘和释放消费潜力。

国家统计局数据显示，1-9月，全国网上零售额10.8万亿元，增长11.6%，高于社会消费品零售总额增速4.8个百分点，实物网零对社零增长贡献率达33.9%。

低价大战中的定价权之争

随着入场玩家越来越多，今年双11各家的打法也逐渐清晰。和往年的熬夜等优惠、拼单凑满减，规则云里雾里不同，今年多个电商平台宣布拒绝套路，直接“血拼”低价。

20日的2023天猫双11全球狂欢季新闻发布会上，淘天集团明确将“全网最低价”作为其今年双11的核心KPI，京东则喊出“真便宜”的口号，拼多多主打“天天真低价”；唯品会则称，消费者无需凑单，一件商品即可享受超值优惠。

电商平台家也纷纷上线“买贵就赔”的服务。京东称，“双11”期间，8亿商品全程价保；淘宝则表示，平台上所有百亿补贴商品承诺“买贵必赔”，如果买贵了，平台将补偿差价等额红包。

然而，双十一热闹的不仅仅是消费者，还有竞争激烈的商家和主播们。此时，以“全网最低价”成名的超级主播李佳琦却成为众矢之的，还未走出“花西子眉笔风波”的口红一哥，又上了热搜。

10月24日，一桩由“京东采销工作人员收品牌商律师函” 事件引发的矛盾，将李佳琦拉入了“底价协议”的漩涡之中，多个相关话题登榜热搜。

事件起因于小家电品牌海氏指责京东私自改价，导致公司利润受损，而涉事京东采销人员在朋友圈公开回应时，反称超级头部主播“二选一”的“底价协议”行为，损害了品牌长期发展、伤害消费者权益。

对此，李佳琦所在公司美ONE方面回应界面新闻称，李佳琦直播间不存在“底价协议”，也不存在“二选一”，定价权在于品牌；海氏方也发声明否认与李佳琦直播间签订“底价协议”。

伴随李佳琦被推上舆论的风口浪尖，一份“美ONE直播推广服务合同”也浮现在大众眼前。根据合同条款，在固定期限内，品牌需保证双方约定的所有推广服务下的促销力度最大，如其它渠道高于李佳琦直播间，品牌需向消费者退还五倍差价，并向美ONE赔偿违约金200万元，同时承担由于退还差价发生的一切费用和损失。

早在2021年的双十一，直播间与欧莱雅因面膜产品的差价问题一度被推至舆论高峰。欧莱雅因官方直播间放出大额消费券致使某产品价格低于两位头部主播直播间，受到李佳琦、薇娅的联合反抗，消费者也声称上当受骗，要求补差价。

正如央视网评欧莱雅事件：“价格歧视”也好，品牌和“头部主播”之间定价权之争也罢，消费者的利益都不能被晒在一边，维护消费者合法权益是当务之急。

但另一方面，头部主播“挟粉丝以令品牌商”把控最低价是否合理也备受讨论。在不久前李佳琦带货花西子眉笔事件上，就有针对李佳琦直播间“全网最低价”的质疑，认为这背后是对价格的操控，反而逐渐背离了“低价”的初衷，更有甚者指责该做法是一种对市场的垄断。

事实上，不只李佳琦，每个平台的超级头部主播都有类似的保价机制，以确保“全网最低价”或者“全网独家”。由于强流量优势，很多品牌方仍愿意挤破头上李佳琦直播间，而李佳琦的销量保障及影响力也让他们愿意为保价合同买单。

相反，如果没有超低价，李佳琦也不一定能维持热度至今。这也意味着，无论哪个平台、哪个主播，谁能拿到品牌背书的最低价，谁就能立于不败之地。这也不难解释，为何是站在流量高地的李佳琦成为了众矢之的。

虽然低价给消费者带来切实优惠，也给平台和直播间带来巨大流量，但同时商家的利润空间也被进一步挤压，行业内卷严重。品牌更多希望自己能够掌控价格维护体系，而不是将定价权交到平台手里。当价格战白热化时，如何避免囚徒困境的恶性循环是当下最大的难题。

回归理性，反向消费

双十一已经走到了第十五个年头。在这个以“买买买”为口号的日子里，年轻消费者往往会在冲动中出手，到后悔中剁手，再到无奈中吃土。

除了血拼到底的价格战以外，今年的双十一新观念“反向消费”的兴起，也为这场一年一度的“狂欢”添上了理性、健康的色彩。

近日，“年轻人开始反向消费”的话题登上热搜，越来越多年轻人在消费过程中拒绝攀比品牌、高价，而更看重商品本身的性价比。所谓“反向消费”，年轻人不再认为贵就是好，他们既要品质、又要性价比。他们愿意为想要的品牌和商品支付成本，但拒绝支付溢价。在新消费趋势的带动下，折扣正在成为年轻人的刚需。

“反向消费”和以前传统的消费模式比起来，最大的变化就是大家对于消费的支出更加理性和谨慎，相比起之前的“野性消费”，“反向消费”让大家不再单纯地认为“贵就是好”，而是追求“花小钱办大事”。

“反向消费”并不意味着消费降级，而可以看作是消费升级的一部分。在过去的几十年里，随着中国经济的快速发展，人们的生活水平得到了极大的提高，消费观念也发生了很大的变化。从过去的“只买贵的不买对的”到现在的“只买对的不买贵的”，这种转变实际上是消费观念的一种升级。年轻人开始意识到，贵并不一定就是好的，物有所值才是最关键的。因此，他们在购物时更加注重产品的性价比，而不是单纯地追求名牌和高价。

这种消费观念的转变，实际上是一种理性的回归。在过去，由于消费者对市场信息的了解不足，往往容易被商家的宣传所蒙蔽，从而导致盲目消费。而现在，随着互联网的普及和信息的透明化，消费者可以更加方便地获取产品信息，从而做出更加理性的消费决策。因此，反向消费实际上是消费者在市场信息更加充分的情况下，更加注重性价比的一种表现。

逐渐“理智”起来的年轻人，为市场的发展带来了新的机遇，也给产品厂家和电商平台带来了新的挑战。为了吸引越来越难以“应付”的消费者，产品厂商更多地关注起自身商品的品质和个性化，加强了对自身产品的监管和质量控制，确保产品质量和信誉；电商平台也投入更多的精力在提供更多元化、个性化的购物选择和更优质的售后服务、更便捷的配送服务。年轻人“反向消费”的现状让我们看到了厂家和电商的努力，也正是这些努力，推动了消费市场的正向发展。

一个更符合“反向消费”趋势的双十一，或许才是消费者更渴望的双十一。这也促使各大平台以折扣、体验与品质为核心字眼，进行起新的布局。零食折扣店大兴扩张，永辉超市推“正品折扣店”，盒马大战山姆先向自己砍了一刀………电商平台也忙不迭的重注折扣与体验，京东加码百亿补贴、开设奥莱频道；淘天集团挖起高性价比商品、拓展个人商家；线上奥特莱斯唯品会则在双十一前夕宣布与中国中检战略合作，目的是“推动品质消费发展”。

只是当折扣零售走入主流视野，如何把好货卖便宜，却成为了零售商们需要思考的新议题。毕竟，无论人群如何变化，时代如何变迁，深度折扣、用户体验、品质消费始终是消费者的最核心诉求，这意味着无论是双十一这类狂欢大促节，亦或是折扣零售本身，在未来进化的方向，不仅仅是低价，也需更好的体验与更优的品质，才能长青于零售历史的舞台之上。