Summary of the Conference Call on Tmall's Double Eleven Promotion Industry Overview - The conference call focuses on the cosmetics industry during Tmall's Double Eleven promotion for 2025, which runs from October 15 to November 14, with a GMV target of 1,195.1 billion yuan and a growth rate of 14% [1][3][4]. Key Points and Arguments Sales Performance - The total transaction amount on the first day reached 126.61 billion yuan, with a year-on-year growth of 16.2%. The beauty and outdoor sports categories performed particularly well, with growth rates of 22.19% and 32.63%, respectively [1][4][5]. - Li Jiaqi's total sales amounted to 15.96 billion yuan, a year-on-year increase of 17.1%. However, the beauty segment saw a negative growth of 20.46%, attributed to reduced willingness from brands to collaborate with influencers and differences in self-broadcasting costs [1][6][11]. Brand Performance - Foreign beauty brands generally achieved positive growth on the first day, with L'Oréal growing by 10.13%, Estée Lauder by 37.2%, and HR Helena by 52.92%. In contrast, domestic brands like Proya and Kefu Mei faced challenges, with their new products not fully realizing their potential [1][23]. - High-end products priced above 1,075 yuan saw an increase of 34% to 78%, while mass-market products priced between 35 yuan and 200 yuan experienced a growth of 11% to 2% [1][26]. Promotional Strategies - Tmall's strategy for Double Eleven emphasized price competitiveness, utilizing live-streaming coupons, smart discount coupons, and red packets to attract consumers. Flash sale platforms were also employed to enhance traffic and maximize conversion rates [1][7][37]. - The platform increased discount efforts, with users expected to enjoy an 83% discount, a 16% increase in subsidy compared to last year, and a 70% increase in coupon distribution [3][37]. Market Dynamics - Domestic brands generated a total sales of 101.4 billion yuan, a year-on-year increase of 17.8%, while overseas brands achieved 319.6 billion yuan, a 23.6% increase. The competitive landscape shifted, with overseas brands gaining an advantage through aggressive marketing strategies [3][28]. - The adjustment of placement fees saw foreign brands' fees drop from 25% to 20%, while domestic brands also reduced their fees to 20% for fair competition during Double Eleven [13]. Consumer Behavior - The average transaction price is expected to decline, indicating a shift in consumer purchasing behavior. The overall performance of beauty brands varied significantly, with some achieving substantial growth while others struggled [4][11][23]. Additional Important Insights - The promotional period for 2025 was extended by two days compared to 2024, with a later start but an extended end date [2]. - The overall strategy for live streaming has shifted towards a more consistent daily average rather than focusing on single-day spikes, impacting overall efficiency [12]. - The performance of various brands in Li Jiaqi's live stream varied, with some brands relying heavily on this channel for sales, while others did not [35]. This summary encapsulates the key insights from the conference call regarding the cosmetics industry during Tmall's Double Eleven promotion, highlighting sales performance, brand dynamics, promotional strategies, and market trends.