(Yicai) Oct. 10 — Chinese e-commerce platforms, including JD.Com, Pinduoduo, and Douyin, have launched their promotional plans for the Double 11 shopping festival in advance to attract more merchants and consumers.
JD.Com’s Double 11 campaign kicked off yesterday, five days earlier than last year, setting a new record promotional period of 37 days. Douyin, TikTok’s sister app in China, also initiated its Double 11 sales yesterday.
The Double 11 promotional campaign of Xiaohongshu, known outside China as Rednote, will begin tomorrow, while that of Alibaba Group Holding’s Tmall will start on Oct. 15. Kuaishou E-commerce launched presales as early as Oct. 7.
The extended promotional period is beneficial to platforms, merchants, and consumers, Securities Times said, citing Zhu Keli, founding director of the China Institute of New Economy.
With longer promotions, platforms can distribute peak traffic and prevent system crashes, merchants have more opportunities for exposure, and consumers have more time to make decisions, reducing the risk of impulsive buying, Zhu explained.
However, extending Double 11 has both positives and negatives, according to Fu Yifu, a special researcher at Su Merchants Bank. The positives include improved traffic distribution, eased fulfillment pressure, and increased user engagement frequency, while the negatives include the higher risk of decision fatigue.
Platforms have made it easier to participate in promotions, which have become more transparent, Fu noted, adding that instead of focusing on presales, they have shifted to instant gratification.
Moreover, e-commerce sites are collaborating with brands to jointly launch low-carbon products or debut limited edition collections to attract younger consumers, Fu pointed out. Consumption upgrading is transitioning from price sensitivity to value recognition
Consumer demand for Double 11 has moved to rational consumption from large purchases of low-price items, Zhu said. While price remains a core factor, buyers are no longer solely focused on discounts, as they are now paying more attention to the cost-performance ratio, he added.
The service experience has also become crucial, with logistics speed and return and exchange policies directly influencing purchasing decisions, Zhu explained.
Editor: Futura Costaglione
