On October 21, 2024, at 20:00, the first installment payment day of the Double 11 shopping festival, major e-commerce platforms once again experienced a surge in orders.
According to media reports, within 10 minutes of the start of sales on Tmall, international big brands such as L’Oreal, Lancome, SkinCeuticals, Estee Lauder, Helena Rubinstein, and La Mer each exceeded one billion in sales. Top Chinese live streamers like Li Jiaqi saw transactions surpassing one billion in multiple live streaming rooms within 5 minutes.
Of course, the performance data on the Douyin platform is also impressive. According to CHAILEEDO data, during the presale period of Douyin Mall (October 8 to October 17), the estimated GMV for skincare products ranged between 60 to 80 billion yuan, while for cosmetics, it ranged between 15 to 30 billion yuan. Compared to the same period last year, both categories saw a significant double-digit growth.
The total skincare products rankings on Douyin Ecommerce during Double 11 promotion was also revealed. Proya ranked the first.
Double 11 Kickoff: Proya Sells Over One Billion in 5 Minutes
At 8:00 PM on October 21, Tmall’s Double 11 officially entered its first installment period.
According to official Tmall data, within 10 minutes of sales commencement, international brands such as L’Oreal, Lancome, SkinCeuticals, Estee Lauder, Helena Rubinstein, and La Mer each surpassed one billion in sales. Within the first hour of sales, Dior saw a nearly 90% year-on-year growth, Valentino Beauty nearly 60%, SK-II over 70%, and CPB over 60%.
On the Chinese brands side, within 5 minutes of sales, Proya sales exceeded one billion. Strong momentum was seen in super single products, with items like Kefumei Collagen Stick, Helena Rubinstein Black Bandage Cream, SkinCeuticals AGE Cream, L’Oreal Borosyin Mask, Proya Advanced Facial Cream, and other top products each surpassing one billion in transactions within the first hour of sales.
Regarding live streaming, influencers like Li Jiaqi and Austin saw transactions surpassing one billion within 5 minutes in their livestream rooms, with several other livestream rooms reaching this milestone within 30 minutes. Among them, Li Jiaqi’s livestream room remained the top hotspot on Tmall platform.
Chinese Beauty Brands Have Low Market Share, Proya Maintains Top Position
Proya continues to hold a strong position. Looking at the brand rankings for the entire cycle of Double 11 in 2023, 618 in 2024, and the list for the first four days of this year’s Double 11, Proya has consistently held the top spot for three consecutive times. It is also the only Chinese brand to enter the top three on Tmall’s beauty rankings.
Kefumei emerges as a dark horse. Apart from Proya, Kefumei has become one of the fastest-growing Chinese brands. In last year’s Double 11, Kefumei was only in the top 20, but this year it quickly rose to fifth place.
Chinese brands have a low presence in the top 10 beauty rankings. Despite the rise of many Chinese brands, overall, the presence of Chinese brands in the top 20 rankings is not high, with only around five brands making the list in each of the three major promotions.
SK-II, Shiseido, and other brands are falling behind. As Chinese brands rise, Japanese brands like SK-II and Shiseido are falling behind, with SK-II dropping from the top 11 to the top 20.
(Note: The brand rankings of 618 Shopping Day in 2024 and Double 11 in 2023 are both for the entire cycle. The brand rankings of Double 11 in 2024 covers the period from October 14, 2024, 20:00 to October 17, 2024, 24:00)
(Note: The brand rankings of 618 Shopping Day in 2024 and Double 11 in 2023 are both for the entire cycle. The brand rankings of Double 11 in 2024 covers the period from October 14, 2024, 20:00 to October 17, 2024, 24:00)
Intense competition in personal care, PANTENE and KERASTASE vie for the top spot. There have been several changes in the rankings in the personal care category, with PANTENE and KERASTASE maintaining their positions at the top, but brands like Head & Shoulders, Safeguard, and Yunnan Baiyao have seen a decline in rankings.
Watercome enters the list for the first time. The Chinese brand Watercome made its debut on the Double 11 personal care rankings, introducing a new face to the list.
(Note: The brand rankings of 618 Shopping Day in 2024 and Double 11 in 2023 are both for the entire cycle. The brand rankings of Double 11 in 2024 covers the period from October 14, 2024, 20:00 to October 17, 2024, 24:00)
Undoubtedly, the development of beauty e-commerce is transitioning from the era of traffic to the era of “stock,” signifying a change in core growth logic. This shift will test the depth of brand and platform capabilities in engaging consumers. This not only concerns the present but also influences the development and future of the Chinese beauty industry. It can be observed that Double 11 promotions remain crucial for driving performance in the beauty industry, but sustaining long-term growth in the market ultimately tests brand strength.
