Pinduoduo's November 11 success: Seafood, beauty, small household appliances, and other products have doubled in growth, and consumption potential continues to be unleashed

On October 26th, Pinduoduo released its battle report for the first three days of the November 11th promotion. Platform consumers and merchants are enthusiastic, with strong consumer demand across the entire region. The number of brands and products participating in the promotion has reached new highs, with over 20 categories achieving double growth.

At the beginning, the sales of seafood, lamb, fruits, sports, beauty, small appliances, electric vehicles, learning machines, tea drinks, imported snacks, computer hardware, high-end musical instruments and other products on the platform increased by over 110% year-on-year. The sales of furniture, home furnishings, new energy vehicle accessories and other products increased by over 320% year-on-year. The sales of pet brands increased by over 600% year-on-year, and the sales of some categories of home furnishings and textiles surged by over 800% year-on-year.

In the early stages of success, the sales of Bohai shrimp, Zhanhua winter jujube, and Zhangzhou grapefruit on the platform increased by more than three times year-on-year.

During the promotion period, Pinduoduo's 10 billion yuan subsidy continued to provide consumers with dual subsidy benefits through activities such as "single item reduction" and "daily discounts". Consumers enthusiastically responded to this. The number of Pinduoduo's 10 billion yuan subsidy users exceeded 620 million, and the order volume of first tier cities increased by 113% compared to the same period. The order amount in fourth and fifth tier cities increased by 167% year-on-year, and the consumption potential continued to be unleashed.

During this year's promotion period, users' consumption philosophy was to be rational while upgrading. For example, white-collar workers and middle class workers in first tier cities purchased more fruits, cat food, and digital products with billions of subsidies, while Baoma and post-2000s in third and fourth tier cities purchased more branded domestic products such as beauty, home appliances, and sports with billions of subsidies. "The person in charge of Pinduoduo's billions of subsidies stated that the platform will continue to optimize supply and demand relations with the help of digital technology, And through continuous subsidies of real gold and silver, businesses are encouraged to sell more, allowing consumers to enjoy a better life at more affordable prices.

The growth of brand new products with billions of subsidies has doubled, and second and third tier cities are welcoming the trend of upgrading home appliances

After the start of the promotion, high-quality merchants of agricultural products (000061) in major agricultural production areas remained the focus of platform support. The Pinduoduo Billion Subsidy Channel continued to increase the subsidy scale on the basis of "zero commission". In the initial stage of success, the Meisha Channel launched a total of 50 agricultural product Meisha subsidy activities, helping the cumulative sales of seasonal agricultural products such as Shaanxi apples, Shanxi crispy persimmons, Dandong chestnuts, and Guangxi emperor oranges exceed 1 million units.

In addition, the sales of high-quality agricultural products such as Zhanhua Winter Jujube, Pucheng Crispy Pear, Zhangzhou Grapefruit, Yangcheng Lake Hairy Crab, Bohai Shrimp, Ningxia Lamb, etc. have increased by more than three times year-on-year. The sales of Chilean cherries, which were first pre-sale, have increased by over 80% year-on-year.

On the eve of the promotion, billions of yuan in subsidies have become an important battlefield for domestic and foreign brands to go up, as well as a powerful engine for new product launches. Especially for domestic brands and high-quality agricultural merchants, the year-on-year growth has more than doubled. Data shows that in the first three days of success, the number of new products from domestic and foreign brands has doubled compared to the same period last year. The number of brands participating in multiplayer gameplay for the first time has increased by more than 10 times, and the number of brand products participating in single item reduction activities has exceeded 50000, providing consumers with a richer range of high-quality products for "rational upgrading".

Under the advantage of the highest cost-effectiveness of the entire network, Pinduoduo's subsidy of over ten billion yuan for products such as mobile phones, digital devices, and home appliances remains the "most popular" choice for consumers. IPhone, Huawei, Honor, Xiaomi, OPPO, Ica, Midea, Haier, Galanz, TCL and other small and medium-sized home appliance products have taken the lead in making a good start, with over 20 sub categories achieving double growth.

At the same time, the demand for home appliance renewal and upgrading from users in second and third tier cities has driven a four fold year-on-year increase in sales of high-end home appliance products. Among them, popular TV products from brands such as Xiaomi and TCL increased by 258%, with washing and drying sets, sweeping and dragging integrated robots, floor washers, dishwashers, and high-speed hair dryers becoming the most popular products. Sales of "heating appliances" such as electric blankets, water heating blankets, and electric heating tables also rapidly increased, with sales of water heating blankets increasing by 120% year-on-year.

On October 25th, the Xiaomi brand's 10000 person group special event was launched, and the platform will collaborate with more brands to continuously distribute benefits to consumers.

Among the group of esports enthusiasts, Pinduoduo's 10 billion yuan subsidy is becoming the preferred platform for device upgrades. The demand for high-end esports devices has significantly increased, and Nvidia's high-end gaming graphics cards have become the best-selling single item, with single item sales increasing by over 300% year-on-year. In addition, graphics cards increased by 120% year-on-year, motherboards increased by 223% year-on-year, hard drives increased by 164% year-on-year, keyboard and mouse increased by 90% year-on-year. Xiaomi, HKC, Titan Legion, Hisense, and Raytheon became the top five popular display brands for consumers, with HKC increasing by 332% year-on-year, Raytheon increasing by 347% year-on-year, and Hisense brand increasing by 104% year-on-year.

Since the beginning of this year, new energy consumption has continued to heat up, and new energy vehicle and automotive parts brands have also accelerated their entry into Pinduoduo. The number of brand stores has increased by over 60% year-on-year, including leading brands in the industry such as Tedian and Xingxing Charging. In the early stages of success, charging equipment and charging pile products such as Star Charging, Punode, Bull, and Te Dian increased by over 320% year-on-year.

In addition, personalized travel has become a new trend in consumption, with strong growth momentum in car color changes, car stickers, and car refrigerators. Sales of car refrigerators such as Intel have increased by 30 times year-on-year, while sales of the leading brand of car glass film, Dragon Film, have increased by over 260% year-on-year.

Strong demand at the beginning, "rational upgrading" has become a new engine of consumption

Recently, the trend of domestic consumption has remained high and has continued until November 11th. After the start of this year's promotion, domestic beauty products and new clothing products have become the categories with the largest subsidy amount of over ten billion yuan for entering Pinduo. Among them, the sales of domestic beauty products such as Bee Blossom, Yumeijing, Shanghai Medicated Soap, Kong Fengchun, Baiqiling, and Pelaia (603605) have increased significantly, with some best-selling single item sales increasing by more than 20 times; In domestic sportswear, Li Ning, Tebu, 361 °, Anta, and Peak have become the most popular TOP5 brands; Moutai (600519), Wuliangye (000858), Yanghe, Fenjiu, Luzhou Laojiao (000568), Jiannanchun and other domestic Baijiu have achieved remarkable rejuvenation effect, with the overall sales volume increasing by 100% year on year, especially the order growth of young groups.

The popularity of domestic products has continued until the big promotion, with multiple categories such as beauty, clothing, and beverages receiving billions of subsidies continuing to sell well.

In addition, overseas Taobao's beauty products have seen rapid year-on-year growth, with over 700 domestic and foreign brands achieving sustainable low prices throughout the year. Among them, Sea Blue Mystery Essence Milk, Sea Blue Mystery Essence Water, Guerlain Restoration Honey, Keyan's Spot Lightening essence, Keyan's High Moisturizing face cream, Sisley All round Milk, Lancome Jingchun Series have become the fastest growing products.

In the field of Meijia, consumers' demand for upgrading their home furnishings tends to be more comfortable, intelligent, and environmentally friendly. The performance of high-end mattress brands is the most impressive, with Shuda increasing by 7094% year-on-year, Genji Kiyu increasing by 2437% year-on-year, Dream Lily (603313) increasing by 1929% year-on-year, Chivas Regal increasing by 630% year-on-year, Good Night increasing by 287% year-on-year, and Suibao increasing by 281% year-on-year. And the year-on-year growth rate of Nordic style solid wood beds such as Primitive Elements and Genji Wood Language exceeded 500%, while the year-on-year growth rate of Gujia Home Furnishings (603816) leather sofa and other products was nearly 200%.

For children's furniture products, Baoda Baoma prefers products that are environmentally friendly, multifunctional, and safe. Children's study desks and chairs increased by 127% year-on-year, while well-known brands such as Aiguo Le increased by 390% year-on-year; In the field of home decoration, young people are more inclined towards DIY design style, with new building and decorative materials such as PC endurance boards, sun panels, wall repair paste, self spray paint, insulation cotton, and insulation boards increasing by 500% year-on-year.