The China Online Shopping Festival has grown to its tenth year. After undergoing trials, explorations, outbreaks and multi-integrations, do shoppers still have the urge and enthusiasm for the “Double 11� The shopping sentiment reflected by the wonderful sales data What is it?
Ten years of "Double 11", consumer enthusiasm
Nielsen's latest "2018 Online Shopping Trend Research Report" shows that consumers are extremely enthusiastic about the Double 11 and more than 90% (94%) of online shoppers have participated in the e-commerce shopping festivals of previous years.
Among them, young people aged 18-35 are the main consumers of the shopping festival, and they are also the easiest to generate shopping impulses. 56% of the 80s and 58% of the 90s said they "purchased unplanned goods."
According to Nielsen Research, in the e-commerce shopping festival, “Double 11†shoppers have a leading position in cognition, and more than 80% of shoppers said they know “Tmall Double 11†(81%). In the context of increasingly rational consumption, shoppers are still sensitive to prices, with reports showing that 55% of shoppers are shopping for impulses in the double 11 and 59% of shoppers have changed their buying plans.
Hong Wei, vice president of Nielsen E-commerce Business China, said: "After experiencing many Internet price wars, many shoppers have experienced aesthetic fatigue on the e-commerce platform to stimulate consumption through price promotions. The e-commerce platform needs to tap into individual characteristics. "Selling points" to attract consumers, avoiding "price wars", and competing for their own characteristics and after-sales service on the basis of reasonable profit-making should be the main means of "double 11" e-commerce in the future."
Development opportunities for imported goods
At the same time, the double 11 also brought huge opportunities for imported goods, Nielsen research shows that 81% of consumers are interested in buying imported goods during the double 11 period. With the continuous growth of Chinese shoppers' income and the continuous release of consumption potential, imported goods have also ushered in an unprecedented development opportunity in China. According to the latest data released by Nielsen at the China Import Commodities Fair, although the imported products are different in the development stages of various categories, the sales growth rate is higher than that of domestically produced products.
In the maternal and child products market, the proportion of sales of imported products has reached 48%, but still maintains a strong growth momentum of 18%. In the early stage of the development of imported products, the beauty care products and dairy products accounted for only 5% and 3% of imports, but they showed explosive growth, with growth rates of 114% and 90%, respectively. Development space.
Due to the wide coverage of the platform and the low barrier of the shelves, e-commerce has become an important platform for imported products to enter the Chinese market quickly. Nielsen monitoring data shows that the share of imported products in the e-commerce platform is much higher than the proportion of online channels. In the food and beverage market, for example, the online share of imported beer, biscuits and liquid milk is around 40%. The next share is only 3%, 18% and 2%.
For shoppers, discount shopping is carnival, but for the merchants, invested a lot of manpower and material resources against the double 11, from the perspective of return on investment, Nielsen research shows that the double 11 advertising return on investment fell to the usual three-point one.
New products drive sales growth
The shopping festivals that participate in the national carnival are more important for brand owners to enhance the brand's presence in the minds of shoppers and to build consumption habits. Shopping festivals are the best opportunity to attract new shoppers through promotions, while promoting more shoppers and promoting shoppers to form a fixed shopping model.
At the same time, the shopping festival is also an important opportunity for merchants to launch new products intensively. The e-commerce platform has increasingly become the world's new product launch, and even an important position for new product development. Tmall's data shows that 12 million new products will be launched in Tmall in 2017 and more than 20 million in 2018. According to Nielsen's years of research experience in the Chinese retail market, new product launches are critical to driving sales growth of offline fast moving consumer goods, particularly in dairy, personal care and maternal and child categories.
Taking feminine hygiene products as an example, the new product contributed 3.2% growth rate (the overall category growth of 9.3%), accounting for 34% of the overall growth. As of the first half of 2018, the contribution of new yogurt and liquid milk products to overall sales growth was as high as 5% and 3.2% (the overall growth rate of categories was 11.2% and 7.1%, respectively).
On the other hand, the high rate of failure of new products is a pain point for current FMCG manufacturers. Only one out of every 10 new products on the market can succeed in the market. Nearly two-thirds of new products will have a significant sales decline in the second year after listing. Successful new products can get at least 40% of the trial purchase rate within 100 days of listing. Differences in performance during the launch of different new products will result in a sales gap of at least 30% in the first year of the new product. How to help fast-moving consumer goods manufacturers break through the bottleneck of low success rate of new products, avoid innovation risks, and achieve sustainable growth through data empowerment?
Nielsen and Tmall New Product Innovation Center
In October of this year, Nielsen and the Tmall New Product Innovation Center reached a strategic cooperation, releasing omni-channel new product monitoring and insight service subscription data products, rooted in Nielsen's leading offline retail data resources and Tmall's rich online data resources, effectively assisting Brand companies solve new product development and market problems.
At the Double 11 Tmall event, John Burbank, President of Nielsen Global Enterprise Development and Strategic Cooperation, once again expressed the revolution that this innovative product will bring to the market:
“Nielsen has been deeply involved in the Chinese retail market for more than 30 years. No company can compete with our comprehensive offline retail data and market insights. Tmall has also been committed to being an omni-channel retail enabler. This strategic cooperation The launch of the product has brought a milestone change to the product innovation of fast-moving consumer goods. It has revolutionized the omni-directional retail development in China and the innovation of traditional market research methods. This is also the Nelson's tradition of continuous innovation. The result of the revolution is new."
"On the other hand, we have also seen that among the 60 categories of fast-moving consumer goods in the Chinese market monitored by Nielsen, the growth of local small and medium-sized enterprises is more eye-catching, and the growth of offline sales of medium-sized local enterprises in the past year has reached 8.8 billion yuan. The growth rate is as high as 10%. There are nearly 50,000 fast-moving consumer goods brands on the Tmall platform, many of which are small and medium-sized enterprises. The advent of this data product will also drive Nielsen's research into potential customer groups and further data services. Productization, empowering more companies to lead growth in China's full retail environment," John added.
Double 11-day cat event scene
Nielsen President of Global Enterprise Development and Strategic Cooperation
John Burbank (first from left)
Responsible editor: Ge
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