Source: Ping'an Securities (in Chinese)
Singles’ Day shopping festival, China’s largest online shopping spree on Nov 11 initiated by Alibaba, has witnessed new sales record. On this day, Alibaba’s Tmall posted gross merchandise value of 168.2 billion RMB, a year-on-year rise of 39%, while JD.COM posted 127.1 billion RMB.
According to freshly released statistics from Tmall, home appliance flagship stores at Tmall that made the top 50 sellers on Singles’ Day sales include: Haier, Sharp, Midea, Gree, Dyson, Ecovacs, Hisense, Philips, Fotile, Skyworth, Little Swan and Siemens.
Statistics from JD.COM showed that, the top 5 sellers of TVs on Singles’ Day were Sharp, Hisense, TCL, Mi, and Skyworth, while the top 5 of air conditioners were Gree, Midea, Aux, Haier and TCL.
TV wise, middle- and high-end brands saw a spike in sales. Sales of Sony’s TVs surpassed the whole-day sales of last year in only the first 15 minutes, and its whole-day sales of this year was four times that of last year. Hisense and TCL stood out with exciting sales of AI and QLED TVs, which were three times that of last year. Sharp’s brown goods saw sales value surpassing 1 billion RMB, of which sales value of LCD-60TX7008A and LCD-60MY5100A both went above 0.1 billion RMB, meaning 2 units sold per second.
Refrigerators were going large-capacity. On Nov 11, sales of refrigerators with a capacity above 450L accounted for 60%. Haier, Siemens, Ronshen and Meling led the sales of large-capacity refrigerators, while Haier, Little Swan and Siemens dominated sales of washing machines.
As to air conditioners, sales of products rated high energy efficiency accounted for more than 40%. Tower air conditioners accounted for about 30%. Brand wise, Gree saw its sales surpass 0.1 billion RMB in only 7 minutes. Midea broke its whole-day sales record of last year in only 16 minutes.
With regard to portable kitchen appliances, high-end products at a price of more than 1,000RMB saw sales five times of last year. High-end brands including Dyson took up more than 60% of sales of vacuum cleaners. High-end air purifiers of joint ventures saw sales accounting for 70%, with a year-on-year growth rate of more than 8 times. Emerging categories including kettles with warmer, stand mixers and high-speed blenders all witnessed sales growths of more than 4 times. Besides, massage armchairs also saw a growth rate of more than 4 times as a budding category.
As female consumers became a strong force of home appliance consumption, beauty instruments, facial cleaning brushes and hair removers saw a sales spike three times that of last year. Dyson’s hair dyers’ first-hour sales surpassed the whole-month sales of October. Besides, the penetration of electric toothbrushes made replacement heads a highlight of Singles’ Day sales. Half-hour sales of replacement heads of all brands saw a growth of four times year-on-year.
Monitor statistics from JD.COM showed that, high-end home appliances took a clearly bigger share of sales compared to before, and has become a crucial niche market.
Statistics from Midea showed that, Midea’s sales from its all online channels broke the record of last year in only an hour, posting 1.737 billion RMB, a year-on-year growth of 117%. Aggregate sales value of Midea’s products from its all online channels on Nov 11posted 4.5 billion RMB, a year-on-year rise of 70%.
Gree’s sales of Singles’ Day surpassed 0.1 billion RMB in 7 minutes, 0.2 billion RMB in 22 minutes, and exceeded whole-day sales of last year in less than an hour at JD.COM.
Haier topped sales of large appliances at multiple online channels including JD.COM, Tmall, Suning.com, and Gome.com.cn, and defended its No.1 position in aggregate online sales of large appliances from all online channels since last year, and its 6-year best seller of large appliances on Tmall. As of 7am on Nov 11, Haier refrigeration led the industry, with top 5 sellers of refrigerators all from Haier. Sales of its high-end refrigerators accounted for 60% of high-end refrigerators, while sales of its high-end wine coolers claimed No 1 position of high-end wine coolers of all brands. Besides, Haier’s washing machines took a share of 36% based on statistics from all online channels, its self-cleaning air conditioners accounted for 52%, and floor standing air conditioners 45%. Haier’s kitchen appliances saw a growth rate of 235% based on statistics from all online channels.