小红书双11收官 业绩翻倍的友好商家大批涌现

Overall: The core message of Xiaohongshu’s Double 11 is that co-funded coupons drove growth for both merchants and buyers.

1. Mechanics: The campaign used co-funded coupons as its core lever, comprising hit-product co-funding, merchant co-funding, and buyer benefit coupons, driving friendly merchants and the buyer ecosystem to new peaks.

2. Data: Merchants selected for the REDone Annual Good Taste Selection gained more than 800,000 followers cumulatively, and sales of curated quality products reached 1.9x the daily average; GMV of products enrolled in hit-product co-funding reached 1.6x the daily average, and new products with immediate breakout sales contributed 75% of the GMV of enrolled products.

3. High-ticket items stood out: GMV of products priced above RMB 2,000 reached 3.5x the daily average; GMV of stores enrolled in merchant co-funding reached 1.6x the daily average, with beauty and skincare at 3.1x, home appliances at 2.9x, home at 2.7x, and health and wellness at 2.6x; GMV in buyer livestream rooms reached 2x the daily average, and that of newly launched buyer livestreams reached 2.6x.

Overall: Brands should focus on new products, high-ticket items, buyer channels, and category breakout signals in Xiaohongshu’s Double 11.

1. Marketing and curation: The REDone Annual Good Taste Selection made its debut; selected merchants gained more than 800,000 followers cumulatively, and sales of curated quality products reached 1.9x the daily average, indicating that the selection drives brand exposure and sales.

2. Products and pricing: New products were the main growth engine, with those achieving immediate breakout sales upon launch contributing 75% of the GMV of enrolled products; GMV of products priced above RMB 2,000 reached 3.5x the daily average, showing strong performance in high-ticket items.

3. Channels and categories: GMV of friendly merchants’ stores enrolled in merchant co-funding reached 1.6x the daily average, with beauty and skincare at 3.1x, home appliances at 2.9x, home at 2.7x, and health and wellness at 2.6x; GMV in buyer livestream rooms reached 2x the daily average, and that of newly launched buyer livestreams reached 2.6x. For collectibles and jewelry, beauty and personal care, and home aesthetics, GMV of enrolled buyers reached 3.4x, 3.4x, and 3.2x, respectively.

Overall: Sellers can identify Double 11 opportunities through the platform’s co-funded coupon mechanism, category growth, and buyer partnerships.

1. Policy and mechanics: Xiaohongshu’s campaign used co-funded coupons as its core lever, covering hit-product co-funding, merchant co-funding, and buyer benefit coupons; GMV of friendly merchants’ stores enrolled in merchant co-funding reached 1.6x the daily average, and a large number of friendly merchants doubled their performance.

2. Opportunity signals: New products with immediate breakout sales upon launch contributed 75% of the GMV of enrolled products, and GMV of products priced above RMB 2,000 reached 3.5x the daily average; enrolled merchants in beauty and skincare, home appliances, home, and health and wellness reached 3.1x, 2.9x, 2.7x, and 2.6x the daily average, respectively.

3. Partnerships and growth: Buyer benefit coupons drove GMV in buyer livestream rooms to 2x the daily average, and GMV of newly launched buyer livestreams to 2.6x; enrolled buyers in collectibles and jewelry, beauty and personal care, and home aesthetics reached 3.4x, 3.4x, and 3.2x, respectively. The end of the campaign is not the end of the business; follow-on operations can continue.

Overall: Factories can understand demand from this campaign through product breakout, high-ticket items, and category opportunities.

1. Product and design demand: New products were the main breakout force, with those achieving immediate breakout sales upon launch contributing 75% of the GMV of enrolled products, indicating that the campaign favored new launches and products with immediate breakout potential; merchants selected for the REDone Annual Good Taste Selection gained more than 800,000 followers cumulatively, and sales of curated quality products reached 1.9x the daily average, showing market demand for taste-driven curated products.

2. Business opportunities: High-ticket products performed strongly, with GMV of products priced above RMB 2,000 reaching 3.5x the daily average; merchant co-funding drove growth in categories such as beauty and skincare, home appliances, home, and health and wellness, with enrolled merchants’ GMV reaching 3.1x, 2.9x, 2.7x, and 2.6x the daily average, respectively.

3. E-commerce implications: GMV in buyer livestream rooms reached 2x the daily average, and newly launched buyer livestreams reached 2.6x, with notable growth among buyers in collectibles and jewelry, beauty and personal care, and home aesthetics. Factories can focus on categories and product presentations suited to buyer channels.

Overall: Service providers can identify service entry points in the merchant and buyer ecosystems from Xiaohongshu’s Double 11 trends.

1. Industry trends: The platform used co-funded coupons as its core lever to drive friendly merchants and the buyer ecosystem to new peaks; merchant co-funding, hit-product co-funding, and buyer benefit coupons drove growth in stores, products, and livestream rooms, respectively.

2. Client growth pain points and solution clues: New products with immediate breakout sales upon launch contributed 75% of the GMV of enrolled products, and GMV of products priced above RMB 2,000 reached 3.5x the daily average; high-ticket items and new-product breakout are key areas for merchants to focus on. Merchants selected for the REDone Annual Good Taste Selection gained more than 800,000 followers, and sales of curated quality products reached 1.9x the daily average, indicating service opportunities around curated product selection.

3. Segmented opportunities: Enrolled merchants in beauty and skincare, home appliances, home, and health and wellness reached 3.1x, 2.9x, 2.7x, and 2.6x the daily average, respectively; GMV of newly launched buyer livestreams reached 2.6x the daily average, with notable growth among buyers in collectibles and jewelry, beauty and personal care, and home aesthetics. Service providers can offer support around enrollment, product selection, livestreaming, and buyer partnerships.

Overall: Marketplace platforms can watch Xiaohongshu’s Double 11 playbook, merchant recruitment levers, and operational direction.

1. Latest playbook: The campaign used co-funded coupons as its core lever, setting up hit-product co-funding, merchant co-funding, and buyer benefit coupons to drive friendly merchants and the buyer ecosystem to new peaks; it debuted the REDone Annual Good Taste Selection, whose selected merchants gained more than 800,000 followers cumulatively and whose curated quality products reached 1.9x the daily average in sales.

2. Merchant recruitment and operations: GMV of products enrolled in hit-product co-funding reached 1.6x the daily average, and new products with immediate breakout sales upon launch contributed 75% of the GMV of enrolled products; GMV of products priced above RMB 2,000 reached 3.5x the daily average; GMV of stores enrolled in merchant co-funding reached 1.6x the daily average, with beauty and skincare, home appliances, home, and health and wellness merchants reaching 3.1x, 2.9x, 2.7x, and 2.6x the daily average, respectively.

3. Ecosystem and direction: Buyer benefit coupons drove livestream room GMV to 2x the daily average, and newly launched buyer livestreams to 2.6x; buyers in collectibles and jewelry, beauty and personal care, and home aesthetics showed notable growth. The campaign report is not the end; the business narrative of the platform and ecosystem partners continues.

Overall: Researchers can observe new developments in the platform’s co-funded coupon mechanism, category growth, and buyer ecosystem through this campaign.

1. Business model: Xiaohongshu used co-funded coupons as its core lever, forming a mix of hit-product co-funding, merchant co-funding, and buyer benefit coupons to drive friendly merchants and the buyer ecosystem to new peaks; it debuted the REDone Annual Good Taste Selection, whose selected merchants gained more than 800,000 followers cumulatively and whose curated quality products reached 1.9x the daily average in sales.

2. Growth structure: New products were the main breakout force, with those achieving immediate breakout sales upon launch contributing 75% of the GMV of enrolled products; GMV of products priced above RMB 2,000 reached 3.5x the daily average, showing strong high-ticket performance; GMV of stores enrolled in merchant co-funding reached 1.6x the daily average, with beauty and skincare, home appliances, home, and health and wellness reaching 3.1x, 2.9x, 2.7x, and 2.6x the daily average, respectively.

3. Ecosystem changes: GMV in buyer livestream rooms reached 2x the daily average, and newly launched buyer livestreams reached 2.6x; enrolled buyers in collectibles and jewelry, beauty and personal care, and home aesthetics reached 3.4x, 3.4x, and 3.2x, respectively. After the campaign ends, the business narrative of the platform and ecosystem partners continues and merits ongoing observation.