China's biggest annual shopping festival, known as Double Eleven, starts on November 11 each year. But pre-sales have already started, with e-commerce platforms offering attractive discounts for eager customers. Cao Bing reports.
Discounts and amazing deals on great products – the annual double eleven shopping festival is always the time for consumers to get their favorite stuff at the best price.
CAO BING Beijing "But despite tempting prices, people are going for 'rational' choices rather than 'impulsive' buying. So, what are they really willing to pay for?"
Believe it or not – pet supplies top the list.
According to China Animal Agriculture Association, there were over 58 million pet cats and 54 million pet dogs in the country's urban areas in 2021 and many of their owners are more than willing to splurge on their furry friends in addition to basic needs like food and medical care.
Many pet brands have had an outstanding pre-sale performance. One of them is animal health brand Zoetis's. The company's sales in the first 80 minutes surpassed its total double eleven income last year. Another brand, Pidan, reached 10 million RMB in pre-sales in the first hour alone.
The industry is emerging as one of the most competitive ones in this year's online shopping carnival.
Second, outdoor gears.
Hiking, river tracing, star watching in a tent hotel. In recent years, camping has become very popular in China partly because of the COVID-19 pandemic.
The rising popularity has pushed up sales of related products.
According to Tmall online shopping platform, in just the first hour, the pre-sale volume of running clothes increased by 45.2 percent, camping equipment by 115 percent and ski gear by 61.9 percent.
CAO BING Beijing "T-mall has also released a metaverse shopping system, where outdoor activity lovers can choose and get their favorite product in a 3D world."
And third is gold.
Purchasing gold has always been popular as many consider it a good investment. With special discounts, gold accessories as well as products co-branded with special IPs have been among the most desirable shopping items. Data from T-mall shows that as of 8 PM on November 1, that is the first day of the festival pre-sale, gold sales increased by more than 30 percent compared to the same time last year with six brands earning over 100 million RMB.
CAO BING Beijing "Pets, hobbies and investment, the new trends of the double eleven festival show a major shift in the market with consumers seeking a better quality of life. CB, CGTN, BJ."