Nov. 11, 2018 marked the 10th anniversary of the “Double 11,” or the 11.11 shopping holiday, which has grown from being a China-specific shopping event to become the largest shopping holiday in the world. In fact, gross merchandise sales across major e-commerce platforms in China have been reported at more than RMB 300 billion (approximately $US 43 billion)!
But Double 11 isn’t just about dollars spent; it’s also about consumer involvement. And according to Nielsen research, there are very few online consumers in China who don’t participate in the festivities. Notably, 94% of online consumers say they have participated in the online shopping sprees, led by consumers 18-35 years old. These consumers are also the ones most likely to make unplanned purchases.
Nielsen China also joined the action by taking part in a media event hosted by Alibaba’s Tmall (the business-to-consumer platform of Alibaba’s Taobao) in Shanghai on Double 11. John Burbank, President of Nielsen Corporate Development & Strategic Initiatives, joined a panel discussion at the event, where he discussed our ground-breaking strategic cooperation with the Tmall Innovation Center (Tmall’s product innovation department and platform) in front of a high-level crowd of select global media and influencers.
On the panel and during his interview, John also spoke about how, by combining Nielsen’s comprehensive offline retail data with Tmall’s innovative online capabilities, we are creating a new level of insight into both online trends from e-commerce and shopping festivals like 11.11, as well as offline retail shopping trends, enabling brands to better plan their omni-channel innovation strategy.
John was joined on the panel by leaders of ABI, Mars, Mattel and Milkana, who discussed insights into how their teams are innovating new products specifically for shopping festivals like Double 11, as well as a few staggering sales results from the first few hours of 11.11.
As previously announced, Nielsen China and TMIC are currently developing a New Product Performance Index that will provide a monthly ranking of recent product launches by several variables, including sales performance. The index will be a first of its kind solution that combines omni-channel data so brands can understand the in-market performance of recently launched products both on and offline. The index is set for a full launch in early 2019.