On October 19th, Kuaishou E-commerce officially kicked off its Double 11 shopping festival. As the first day of the official Double 11 period, Kuaishou E-commerce recorded an unprecedented GMV (Gross Merchandise Value) on launch day, achieving a 94% year-on-year increase compared to last year. More than 5,900 brands saw their GMV grow by over 100% on this day.
Notably, the platform’s diverse product offerings have shown impressive growth, driven by major brands that boosted sales across the board. On October 19th alone, the GMV from these general shelves surged by 128% compared to the same day last year, with high-end products seeing a staggering 480% increase in the number of items generating over one million in GMV.
Hot-selling items on Kuaishou E-commerce include the Xiaomi MIX Fold 3, Honor X60, iPhone 16 Pro Max, Wuliangye 52-degree aromatic liquor, Jiu Zhi Tang wolfberry and donkey-hide gelatin oral liquid, Baidu study machine, Oppein luxury soft beds, Midea’s frost-free refrigerators, Huawei Mate 60 Pro, and Little Swan washing and drying machines.
Additionally, content on Kuaishou E-commerce has been on fire. From midnight on the 19th to 5 PM on the 20th, the platform experienced over 10 billion product exposure instances in live broadcasts. GMV for items priced above 1,000 yuan increased by an astonishing 760% year-on-year, with over 16,000 live broadcasts exceeding last year’s Double 11 peak. Notably, 193 of these live streaming sessions achieved GMV exceeding one million.
With the combined influence of platform and national subsidies, consumer enthusiasm has skyrocketed. During the same timeframe, more than 3,800 super items exceeded 100,000 orders, and 54 brands surpassed the 10 million GMV mark.
The national subsidy for trade-in programs has significantly propelled quick growth in the consumer electronics and home categories. In the same period, users redeemed over 1.3 million vouchers for the trade-in subsidy, leading to a 670% increase in GMV compared to this year’s June 18th event. Brands like TCL, Hisense, and Oppein saw massive GMV growth as a direct result of these subsidies, with TCL’s GMV increasing 44 times, Hisense growing 12 times, and Oppein’s GMV surging over 100 times.
Analysis of spending trends reveals that jewelry, mobile devices/computer office supplies, and women’s clothing ranked as the top three categories by GMV. Meanwhile, women’s fashion, home goods, and fresh produce topped user payment counts.
This year’s Double 11 is themed “Curated Selection, More Purchase, More Savings,” offering 20 billion yuan in traffic subsidies, 2 billion yuan in user red envelopes, and 1 billion yuan in product subsidies to support merchants and influencers in achieving comprehensive collaboration and growth.
For merchants, Kuaishou E-commerce has launched an ambitious “New Merchant Launch” initiative with over 100 billion yuan in funding and another 70 billion yuan in support for businesses to enhance their market presence. For consumers, the platform has introduced various engagement mechanisms such as shopping draws, live stream giveaways, check-in rewards, promotional voucher discounts, group purchasing, and more to deliver even more value.
The explosive sales on the opening day set a promising tone for this year’s Kuaishou Double 11. With continued support for merchants and consumer subsidies, it’s expected that more users will find cost-effective deals while more merchants and influencers will experience significant growth in their business during this dynamic sales season.
