Peoples Daily: Taiwans Crazy double 11

 Peoples Daily: Taiwans Crazy double 11

The picture shows the double 11 advertisement of e-commerce platform in Taipei Subway.

Chen Chengpei photo

Recently, people in Taiwan have felt a strong atmosphere of double 11 from the advertisements of shopping platforms in subway stations and buses. The annual double 11 has been popular in Taiwan from the mainland, and has become the favorite shopping festival for Taiwan consumers.

According to Guo naifeng, an associate professor in the Department of Finance and finance at Shixin University in Taiwan, many e-commerce platforms participated in the double 11 Shopping Festival, resulting in scale effect, which made the goods more and more abundant and the discount more and more powerful. According to the statistics of Taiwans Ministry of economy, in November 2018, the amount of e-shopping and mail order on the island increased by 19.71% compared with the same month last year, and the turnover exceeded 20 billion yuan (NT $20 billion, the same below).

Compared with last year, this year Taiwans double 11 has a bigger momentum. Even Taiwan Customs began to prepare for the shopping festival, announcing that it would strengthen the inspection of Inbound express packages. Although the green camp is strict and strict in wearing tinted glasses, it does not hinder the island peoples great enthusiasm for the double 11. Major e-commerce platforms and manufacturers have launched a large range of preferential activities during the double 11 period, which is attracting more and more consumers to buy and buy.

Seize business opportunities to offset performance

Zhong Ziwei, deputy director of PChome marketing center, an e-commerce platform in Taiwan, introduced that PChome started to invest in the double 11 Shopping Festival in 2017. In the first four days, PChome achieved a performance of 1.5 billion yuan, and in the last two days, it achieved 1.5 billion yuan. This year, we hope to make new achievements..

Not only PChome, Taiwans online familys trading platform open-air auction, e-commerce platform life market, cross-border e-commerce shrimp skin shopping headquartered in Singapore, etc. also announced the double 11 related activities. Taiwans China Telecom, telecom and Taiwans mobile phone company joined the battle this year. All three companies have launched phone, Internet, roaming and other related preferential policies in their own network stores, seizing a wave of double 11 business opportunities.

In addition to Taiwans local e-commerce activities, the mainlands e-commerce platforms Taobao and Jingdong are not willing to lag behind, while Xiaomi Taiwan has launched new preferential measures to gather popularity.

As the initiator of double 11, Alibaba Group has launched Taobao Taiwan, a brand-new e-commerce shopping platform authorized by the brand. Dong benhong, chief marketing officer of Alibaba, said that the group has always been optimistic about the market potential of online shopping in Taiwan, and has constantly explored how to provide consumers and businesses with comprehensive and thoughtful localized services. According to Lin Yawen, marketing director and spokesperson of Taobao Taiwan, the new platform combines Taiwans local brands and cross-border goods, and Taiwans local logistics to increase multiple payment options and better serve Taiwans local consumers.

This years double 11 witnessed Jingdongs first stage participation. For this reason, the platform specially designed the traditional version of the web page and the Taiwan language copywriting. At the same time, Jingdong cooperated with the shopping channel of the islands communication software line to launch the 11.11 Jingdong global good things Festival and provide more ground-based services for the people of Taiwan.

Show your skills and make your own

Almost all e-commerce platforms in Taiwan choose to run in advance at the end of October to prepare for the double 11, and the promotions are constantly renovated. But in the opinion of the reporter, all changes cant be separated from their clans. In fact, they all let everyone buy and buy through lowering.

Miss Zhou, a Taipei citizen who works in public relations, is very representative. She said, double 11 shopping, mainly depends on the price, pick up cheap buy.

However, according to a statistical report released by criteo, an open online advertising platform, the attraction of low-cost promotion is gradually fading, although the double 11 has been strengthened. The reason is very simple, the large and small manufacturers are pouring into the e-commerce market, under the fierce price war, it will be difficult to attract consumers to survive without characteristics. Moreover, the loyalty of online shopping consumers is low, so we must grasp the psychology of consumers. So, how can e-commerce platform stand out from many special offers?

For example, PChome, Yahoo Qimo shopping center and other platforms rushed to release the latest warehousing and logistics planning before the double 11, and began to use AI and big data analysis this year to make the double 11 delivery more smooth. This year, we will use data to predict what will be sold and how many will be sold. We will first transport some goods to places where customers are concentrated, so as to improve the efficiency of delivery. Lim Qifeng, chairman of Momo, said that bulk commodities such as toilet paper, water and paper diapers have been delivered to the satellite warehouse of the whole station first. The troops and horses are not moving, but the food and grass are first. Smooth logistics will enhance the shopping experience of consumers.

The shrimp skin shopping, which focuses on overseas products, is another way. It is announced that from October 24 to November 11, the strongest Shopping Festival, free of freight every day.

In addition, some retailers told reporters that issuing co branded cards is no longer a unique marketing method for physical department stores, and many e-commerce platforms are rushing to launch their own co branded cards before this years double 11. With this layout, e-commerce platforms have more ways to play with marketing discounts, which can also attract consumers to spend more in the ecosystem and continue to stick to the platform.

Explore new development path

During the double 11 period in 2018, Taiwans online retail sales soared by 327%, and the best selling products were fashion boutiques, health care and beauty products and general products. So, this years double 11, what do Taiwanese consumers like to buy most?

According to the current consumption data of the platform, the largest sales volume is still mobile phones, followed by digital products such as laptops, as well as daily necessities such as toilet paper, diapers, cleaning supplies, etc., according to Zhong Ziwei, everyone likes to take this time to stock.

Different from the mainland, in addition to using the e-commerce platform to invest in the double 11, Taiwans brands also make good use of various social platforms and their respective official websites. Zhang Peiying, founder and general manager of abysse, told reporters that he hoped to attract more people to visit the official website with the help of this wave of double 11 popularity craze, which is the development planning path of many Taiwan brands.

The reason for this is that in the past, Taiwans e-commerce platforms did not share big data with brands entering the market. Lu Yongjia, the co-founder of her and abysse, visited the mainland this year and learned that the background data provided by the mainland e-commerce platform will make the brands in the park targeted to improve their services. She thinks such experience can be directly grafted on her companys website.

In Taiwan, double 11 is so hot, in addition to the scale effect of becoming a brand, businesses also value the long tail effect driven by it. The next double 12, Christmas until the Spring Festival, are shopping season. The double 11 will bring many new consumers closer to the platform. These new customers are still likely to return to the platform for shopping in the peak purchasing season before the end of the year. Therefore, Lin Qifeng said, the good or bad performance of double 11 will affect the performance of the whole year in the future.

It seems that the idea of the tide of people driving the tide of money is never out of date. Double 11 came, but it was only the first shot in the islands peak season.

Source: Peoples Daily - Peoples daily editor: Zhang Zutao