Why has the "Double 11" this year become quiet? Netizens have summarized the following 5 reasons

Tech 2023-11-12 22:52:33 Source: Network

Let's go back to 2009, when Zhang Yong, then the general manager of Tmall, created the "Double Eleven" shopping festival. In the blink of an eye, it turned into a nationwide shopping frenzy

Let's go back to 2009, when Zhang Yong, then the general manager of Tmall, created the "Double Eleven" shopping festival. In the blink of an eye, it turned into a nationwide shopping frenzy. The sales on the Double Eleven were only a few billion yuan that year, but by 2015, the sales had already reached hundreds of billions. This number, like a snowball on a ski resort, is getting bigger and bigger, and by 2020, it has even surpassed the 700 billion mark.

However, while this number is still climbing, everyone seems to be less enthusiastic about the Double 11. From 2015 to 2020, although the growth in sales was astonishing, the annual growth rate was gradually shrinking. By 2021, the trend of slowing down growth has become more apparent. Some data even shows negative sales growth on some platforms.

Now, by the Double 11 in 2023, everyone's shopping cart seems to be less full. There are many reasons behind it. Firstly, this year's economic environment has affected consumers' purchasing power. People are tightening their wallets and paying more attention to daily consumption rather than one-time large-scale shopping. Secondly, promotions have become the new norm, and consumers no longer need to wait until Double 11 to enjoy discounts. In addition, consumers are becoming more rational and more inclined to decide their shopping time according to their actual needs rather than promotional activities, and the rise of e-commerce live broadcasts such as Tiktok and Kwai has given consumers more choices in shopping channels.

Then there is consumer psychology. The previous Double Eleven was a battlefield for panic buying, and people were afraid to miss it. They stood by the screen in the middle of the night, waiting for the rush to start at 12 o'clock on time. At that time, Double Eleven was really a feast. But now, people are beginning to realize that not every discount is worth looking forward to, and sometimes promotions are even more a marketing tool for businesses. Many people have found that before Double 11, the prices of goods placed in their shopping carts have actually increased. They have also gradually realized that there are more and more so-called promotional activities, and people are pursuing real discounts instead of superficial discounts.

Another phenomenon that must be mentioned is "consumption fatigue". The warm-up before Double 11 is getting earlier and longer, and the activities are getting longer. This year, Double 11 has started on October 31st, and consumers are constantly distracted by the bombardment of promotional information. When the real Double 11 arrives, many people have lost interest in shopping.

In this trend, the Double 11 may be transitioning from "cutting hands" to synonymous with "rational consumption". People are starting to think more about 'Do I really need this?' instead of 'This is on sale, hurry up and buy!'

I haven't bought anything on Double Eleven this year, so I'm afraid to buy it when my wallet is empty. Dear friends, how do you view this issue? What do you have in your Double 11 shopping cart? Share your views in the comments section and let's talk about this year's Double 11!

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