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Is the commercial efficiency of the "Double 11" decade reaching its limit

08:47, November 15, 2018 Source: Science and Technology Daily

"The exponential growth of the" Double 11 "every year has constantly verified the fact that this year's peak will be the normal next year." Cao Lei, director of the E-commerce Research Center, said in a recent interview with the Science and Technology Daily that the results were not unexpected. The turnover of Tmall's "Double 11" in 2018 exceeded 200 billion yuan, and finally reached 213.5 billion yuan.

As a product of the era under the e-commerce festival, Tmall's "Double 11" has become a "sales carnival" of the whole society for ten years, and all forces together write the evolution history of Chinese and global commerce. In this process, personalized and quality consumption has gradually become a trend in China, and consumption upgrading shows a strong momentum and vitality.

Concentrated outbreak of consumption power

Today's Tmall's "Double 11" has become another important time window for China to achieve consumption upgrading and boost consumer confidence. Just as Premier Li Keqiang once praised Tmall's "Double 11": "You have created a consumption time point."

Zhang Yong, CEO of Alibaba Group, said this a few years ago: "Tmall's" Double 11 "is no longer a matter of one company or the Internet, but a social phenomenon, the result of social synergy, forming a resonance of various resources."

As early as October 19, Tmall announced the launch of "Double 11", and all businesses under Alibaba's digital economy will be comprehensively assembled for the first time this year, covering all aspects of life, from food, clothing, housing, transportation to food, drink and play. According to the incomplete statistics of the E-commerce Research Center, this year's "Double 11" attracted more than 100 e-commerce platforms in addition to "head platforms" such as Tmall, JD, Suning, etc.

Jing Jie, president of Tmall, said: "In its tenth year, Tmall's" Double 11 "has already surpassed the concept of e-commerce promotion and become the" Olympic Games "of global brands and the carnival of global consumers." Cao Lei said: "The socialized synergy driven by Tmall's" Double 11 "is the best demonstration of China's economic vitality. From consumption upgrading, brand upgrading, supply chain restructuring, industrial upgrading, Tmall's "Double 11" and Alibaba's digital economy behind it are becoming an important force to promote the transformation and upgrading of China's real economy. "

Pushing the limits of business effectiveness

Every year's "Double 11" is a big test for social commercial infrastructure such as commerce, payment, logistics and services, which constantly pushes up the limits of commercial efficiency. The online platform announced the "Double 11" operation data, and the number of inter agency transactions processed on that day was 1.17 billion, and the corresponding peak value of inter agency transaction processing exceeded 92000 transactions per second. The online platform smoothly guaranteed the operation of the "Double 11" payment system, and the platform performance and peak transaction carrying capacity were tested and recognized by the market. "Double 11" is the peak of online payment over the years. The peak time points have repeatedly set global concurrent peak records, bringing extreme challenges to the system capacity and line bandwidth of participants, and it is a centralized test of the scientific and technological capabilities of participants. In order to make global consumers feel a smooth shopping and payment experience on the day of "Double 11", e-commerce giants have done a lot of preparation work in close cooperation with banks and online platforms.

Miss Wang, from Chaoyang District, Beijing, told reporters that this year, 12 orders were placed at the same time for the "Double 11", and the consumption was more than 8000 yuan. Although it was the peak time for rush buying, the order placement and payment were very smooth. There was no jam when the payment was made, and the experience was more smooth than in previous years. The reporter learned that compared with the original direct connection mode, processing payment transactions through the online platform takes less time on average, and the transaction success rate is more guaranteed.

Cao Lei said that eight years ago, tens of millions of packages made China's express logistics system explode. In 2017, Tmall generated more than 800 million logistics orders on the "Double 11" day, and the logistics network was still able to operate in an orderly manner. The same is true for payment systems. Today, Alipay's peak payment per second can reach 256000, easily supporting more than one billion transactions throughout the day. Ant Financial has built a global collection and payment capacity for businesses and users in more than 200 countries and regions.

Liu Qiao, Dean of Guanghua School of Management, Peking University, said: "Tmall's' Double 11 'is to force the improvement of economic operation efficiency by pursuing the technological limit, which is particularly important for China's economy."

This year, IoT technology was first applied to the consumption scene of traceability of imported goods. Tmall Global, which is aimed at Chinese users, joined hands with Cainiao and Alibaba Cloud to take the lead in achieving the global origin traceability upgrade based on IoT technology. Consumers can see the real-time traceability information of purchased imported goods by scanning the code on Taobao. In the future, more information including temperature, humidity, stress and so on will also be perceived.

Cao Lei said: "The retail innovation of the 'Double 11' this year has extended the satisfaction of consumer behavior, and even broke the concept of time and space, which is the biggest difference from the traditional retail that focused on commodity sales in the past. Behind this, the connotation of retail innovation is to further introduce means and methods that are conducive to improving business efficiency and service ability. This is the biggest attraction of Double 11 in its tenth year. "

Jing Jie said, "Tmall is no longer a" cat in the sky ", but will become ubiquitous. Consumers do not have to be constrained by where they place orders and pick up goods. Everything revolves around the way they are most inclined and used to. From transaction, delivery to interaction, they are in full contact with consumers." Now Ali defines itself as an "economy", and Zhang Yong describes this year's "Double 11" As a grand parade of Alibaba's new commercial power in the economy, this is not only a test of Alibaba's comprehensive ability, but also the best opportunity to find weaknesses.

(Editor in charge: Huang Lingli, Zhang Chen)

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