Ali Jingdong Jiduo’s shares dive ahead of final Double 11 turnover

Just half an hour after November 11, Tmall’s Double 11 turnover was 373.3 billion RMB.

Neither Ali’s staff nor the media at the Tmall Double 11 media record site in Hangzhou cheered the figure. This figure has already exceeded the total turnover of RMB 268.4 billion for Tmall Double 11 in 2019.

This year’s Tmall Double 11 has three more days than ever before, with the first wave of full sales taking place from 1-3 days, while the second wave starts on the 11th. Ali’s digital interpretation officer says this is to give merchants more time to sell their goods. Of course, there are many in the market who believe that the extension of the double 11 is for bigger turnover – one of the most important numbers for e-commerce. Ali did not disclose how much of the 373.3 billion yuan was the turnover from days 1-3 and how much was the turnover from the half-hour beginning of the 11th.

According to data provided by Ali, this year’s Tmall Double 11, with more than 250,000 brands and 5 million merchants participating, is expected to attract more than 800 million consumers, making it the most widely covered and attended session in history. “The revelry of Nov. 11 has just begun, and the 372.3 billion turnover is just a starting point,” Ali described it as such.

The impact of the epidemic on small and medium-sized businesses and the role of Ali’s e-commerce in it was repeatedly brought up at Ali’s media site. “The longer sales cycle brings more business opportunities and bigger sales outbreaks.” This is the reason Ali gave for 3 more days for Tmall Double 11.

The numbers game of turnover has been breaking records every year. The same Jingdong Double 11, which started on the 1st of November, reached 200 billion RMB in turnover at 09:00 on the 11th, almost the same as last year’s 204.4 billion RMB turnover.

As always, Pinduoduo did not participate in the turnover numbers game. An employee of Pieduo believes that preferential efforts Pieduo is doing every day, not just in a holiday. That said, Spidos updated its app logo before Double 11, with a brighter yellow at the bottom to emphasize the arrival of Double 11.

It’s hard to tell right now where the home of Double 11 will be and who the protagonists will be. There are four Double 11 parties a night: Tmall Double 11 and Zhejiang TV, Oriental TV and Youku, Spidey Double 11 and Hunan TV, Jingdong Double 11 and Jiangsu TV and iQiyi, Suning Double 11 and Beijing TV. A peer jokingly said: star is not enough to allocate, will also appear “two choose one”? Of course, in addition to mainstream e-commerce, Shakespeare Express is also involved in the double 11. Perhaps after 11, we can also see the turnover brought by the short video platform.

It’s worth mentioning that, contrary to the hot shopping tide of Double 11, the shares of these companies have been diving. 10 November, Ali and Jingdong in Hong Kong shares fell 5.1% and 8.78% respectively, the United States group, millet, Tencent and other China stocks also have different magnitudes of fall.

That night the U.S. stock market opened, Ali, Jingdong and more, B station, Azure Auto, Ideal Auto and other shares have fallen sharply. Some interpreters believe that the performance of Chinese stocks is related to the “Anti-monopoly Guidelines on Platform Economy (Exposure Draft)” released by the State Administration of Market Supervision in the afternoon of October 10.

The Exposure Draft defines monopoly behavior in the platform economy from four aspects: “monopoly agreement”, “abuse of dominant market position”, “concentration of operators” and “abuse of administrative power to exclude or restrict competition”.

That is to say, what can be seen from the media reports in the past: e-commerce platforms require merchants to “choose one out of two”, the use of algorithms for big data “kill”, price war and other limited transactions, may be identified as the existence of monopolistic behavior. These are precisely the most common marketing methods of Internet companies.