Double 11 Battle Report: Home Appliances Lead the Charge, Total Sales Exceed 845 Billion Yuan

Double 11 Battle Report: Home Appliances Lead the Charge, Total Sales Exceed 845 Billion YuanAs the 2024 Double 11 shopping festival progresses, e-commerce platforms have once again delivered impressive results. According to the latest data released by Star Map Data, cumulative sales across all platforms have reached 845 billion yuan as of October 30th

Double 11 Battle Report: Home Appliances Lead the Charge, Total Sales Exceed 845 Billion Yuan

As the 2024 Double 11 shopping festival progresses, e-commerce platforms have once again delivered impressive results. According to the latest data released by Star Map Data, cumulative sales across all platforms have reached 845 billion yuan as of October 30th. Among the numerous categories, home appliances stood out with sales reaching 132.4 billion yuan, capturing a 15.7% market share. Mobile phones, digital products, and clothing followed closely behind, generating 120.1 billion yuan and 118.4 billion yuan in sales, respectively, accounting for 14.2% and 14.0% of the market.

The surge in home appliance sales during this year's Double 11 can be attributed to the combined efforts of the "national subsidy" policy and platform price reductions. Star Map Data reports that transactions for 3,000 home appliance brands on the JD platform saw a year-over-year increase exceeding 100%. Tmall also saw a significant boost in sales for small appliances and smart home categories, fueled by the introduction of over 90 new product categories eligible for additional subsidies through their "trade-in" program.

The introduction of the "national subsidy" policy has undoubtedly injected vitality into the home appliance market. Consumers can now enjoy government subsidies when purchasing appliances, effectively lowering the purchase barrier and stimulating demand. Meanwhile, e-commerce platforms are actively launching various promotional activities such as discounts, coupons, and flash sales, further reducing appliance prices and attracting more consumers to participate.

It's worth noting that beyond the push from the "national subsidy" policy, consumer demand for smart appliances continues to grow. With technological advancements, smart appliances are becoming increasingly powerful, offering consumers greater convenience and a more comfortable living experience. For example, smart refrigerators can recommend recipes automatically based on user eating habits, smart air conditioners can adjust temperatures automatically based on indoor conditions, and smart washing machines can select wash cycles based on garment materials. These smart features significantly enhance consumer quality of life, serving as a key driver for continued growth in the home appliance market.

In conclusion, the home appliance market performance during the 2024 Double 11 shopping festival has been remarkable, driven by a confluence of factors: the "national subsidy" policy, platform price reductions, and rising consumer demand for smart appliances. As technology progresses, the home appliance market is poised to maintain rapid growth, with smart appliances becoming the mainstream, offering consumers even smarter, more convenient, and more comfortable living experiences.

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