Singles Day TV Sales
On China’s (and the world’s) most important online shopping day “11.11” or Singles Day, online channels reported sales revenues of CNY 410 Billion ($58.6 billion) with 30.1% Y/Y growth. TMall (Alibaba) alone took in CNY268.4 Billion ($38.3 billion) with 25.71% Y/Y growth, which was down from 27% growth the year before resulting in a 0.2% stock price decline. Suning recorded 75% Y/Y growth in units.
We see that TV brands all get a better performance by different promotion.
According to JD and Suning which are the popular platforms for CE device shopping, 65” TV was the hot item this year on Singles day, with 65”+ TV sales reaching 185% Y/Y growth. According to Suning, Laser TV shipments recorded 361% Y/Y growth, 8k TV shipments had 159% Y/Y growth, and OLED TV shipments had 220% Y/Y growth.
The most selling models among different brands:
- Skyworth 55M7S
- Xiaomi L65 M5-4C
- Sony 65X8588G
- Changhong 55D2S
- TCL D55A730U
- Haier LU65C51
- Hisense H55 E3A
- Redmi R70A
- Samsung UA65RUF60E
- Skyworth 55H7S
According to JD, the top 10 TV brands by sales units were Xiaomi, Hisense, Skyworth, TCL, Sony, Changhong, Samsung, Konka, Philips and LeTV.
According to Hisense, their laser TV Y/Y growth in units was 109% on Singles day, and 75”+ TV sales units reached 259% Y/Y growth.
Xiaomi claimed to be the #1 brand in different online shopping platforms with a total of 910k units. Xiaomi’s low price strategy was successful with younger fans who mostly use online shopping.
According to Chinese research firm AVC, Single days TV shipments reached 3.58 million for 18.9% Y/Y growth, and TV revenue was CNY 7.5 Billion ($1.07 billion) for 1.1% Y/Y growth. It is clear to see that price promotions drove the sales results on Singles day.