It is not only consumers who have experienced the "really great" feeling of interest-free installments with Huabei.

The Double 11 event has been held for 16 years, and the e-commerce battle is in full swing. Consumer finance, as a "business partner", also brings new opportunities to merchants. The operation staff of Xiaomi and Vivo on Tmall found that consumers' enthusiasm for interest-free installments is gradually increasing.

"We found that when consumers purchase our products, they prefer the payment method of interest-free installments, and the more installments, the more beneficial it is for consumption decisions," said Chen Peng, General Manager of Xiaomi Brand Tmall Division.

Especially when buying new products, consumers prefer to use interest-free installments. The Vivo Tmall operation team found that "the higher the unit price of the product, the higher the proportion of using interest-free installments for payment." This time, the newly launched Vivo X200 series all support Huabei installment with 24-month interest-free, and more than half of the Tmall first-sale purchase users have chosen the 24-month interest-free option.

Relying on the wide user and merchant coverage of Huabei, Huabei installment interest-free is currently the most widely used interest-free installment product.

Young people's enthusiasm for interest-free installments exceeds imagination. They do not consider interest-free installments as excessive consumption. On the contrary, it is a careful consumption method to avoid excessive occupation of funds in a short period of time and maximize the efficiency of available funds. According to the research of iResearch's "White Paper on the Value of Interest-Free Installment Tools", more than 90% of people believe that interest-free installments are a money-saving tool, and more than 60% of people prefer to choose the consumption method of interest-free installments even if they can pay the full amount at present.

Not only is it favored by users, but Huabei installment interest-free is also beneficial to merchants. Consumers using interest-free installments can reduce the pressure of paying the full amount at one time and lower the consumption decision-making threshold, which directly leads to a significant increase in merchants' sales volume and sales amount. And from the feedback of many brand merchants, consumers like to use interest-free installments to buy new products, which also makes interest-free installments able to help merchants promote new products to a large extent.

With consumers actively using it and merchants having a high willingness to cooperate, Huabei installment has also opened up more applications to merchants. Nowadays, Huabei installment has gradually upgraded to a comprehensive solution to help merchants grow on the basis of financial tools, aiming at the three key links in the sales chain to help merchants promote conversion, growth, and increase unit price. Currently, these solutions have been applied in brands such as Huawei, Honor, Haier, Xiaomi, and Hangzhou Stomatological Hospital.

In such a virtuous cycle of the consumption ecosystem, Huabei installment has gradually become a business tool favored by merchants.

01. The Best-selling Merchants All Support Huabei Installment Interest-Free

According to the information released by Taotian Group, since the Double 11 event started, a cumulative of 373 brands have achieved a transaction volume of over 100 million yuan. Data shows that among the brands with a transaction volume of over 100 million yuan, more than 80% provide consumers with Huabei installment interest-free.

Not only that, during the first wave of sales of this year's Double 11, the number of merchants supporting Huabei installment interest-free increased by 17% compared with the same period last year.

The reason why Double 11 merchants collectively embrace Huabei installment interest-free is that it is the best time to complete the sales KPI in this year. Huabei installment interest-free greatly promotes consumers' decision-making and assists merchants in selling goods.

According to the survey of iResearch, nearly 70% of the interviewed merchants believe that the interest-free installment service can increase sales volume.

Sales volume is the primary pursuit of merchants. In the current increasingly fierce consumption competition, interest-free installments have become one of the cost-effective practices for merchants.

Data gives merchants a sense of security. Sufficient supply of interest-free installments can bring a significant boost effect.

This year's Double 11, the 3C digital industry has the highest supply rate of interest-free installments, and the total transaction volume of goods is also the highest among all industries. Among the top 10 categories with the highest growth rate, the 3C digital industry accounts for 4 categories, namely smart devices, mobile phones, tablet computers, and digital cameras, with a transaction volume growth rate of more than 30%.

The down jacket category has also tasted the "sweetness" of interest-free installments. Since the Double 11 event started, the total transaction volume of down jackets has increased by more than 40% compared with the same period last year, and the number of consumers using interest-free installments to purchase down jackets has increased by nearly 20% compared with the same period last year.

Bosideng, the leading domestic down jacket brand, provides consumers with a three-month interest-free installment for the entire store during this Double 11, and has achieved good results of ranking first among all clothing brands and achieving a double-digit high growth in store GMV compared with the same period last year. Zhang Bo, Director of Bosideng Tmall, observed that "After providing interest-free installments for the brand's high-unit-price down jackets, it has a certain impact on customers' purchase decisions and can improve the conversion rate of high-unit-price products."

In the first hour of the Tmall Double 11 spot sale, the transaction volume of 224 home appliance and home furnishing brands has already exceeded that of the entire day last year. The reason for such a rapid transaction is that in addition to the national trade-in subsidy, the platform and merchants responding to the policy and increasing preferential measures have also played a role.

Data shows that among the goods purchased by consumers enjoying the national trade-in subsidy, 60% can use Huabei installment interest-free for payment in addition to the "national subsidy", further lowering the threshold for consumers to replace their products.

Take a Casarte range hood in the Haier Official Flagship Store as an example. Its original price is more than 5,000 yuan, and after enjoying the national subsidy and various discounts, it only needs less than 3,500 yuan. Consumers can also choose a 24-month interest-free installment, which is equivalent to only needing to pay 145 yuan per month. This makes Mr. Li, a consumer who is hesitating to replace his product, very tempted. He said, "The range hood is to be used for a long time, and the cost should be apportioned to each month."

Su Xizhi, a senior researcher at Suxi Zhiyan, said that the large-scale consumer goods trade-in is a major policy deployment in China. While the country provides subsidies, the platform and merchants can use the financial tool of interest-free installments, which is not only a full response to the policy, but also brings benefits to consumers with the need to replace their products, helping to promote consumption upgrading and the growth of consumption scale.

02. Huabei Installment Interest-Free, Merchants' More and More Versatile Business Helper

Nowadays, Huabei opens the installment interest-free function to merchants, and merchants can independently set up their digital business backstage to choose marketing tools such as subsidy for interest according to the sales rhythm. At present, more than 5 million merchants have accumulated to promote sales growth by using installment interest-free.

The survey results of iResearch show that nearly 70% of merchants said that after providing the interest-free installment service, the sales volume has significantly increased. Among them, the sales volume of key subsidy products provided by merchants with interest-free installments has increased by an average of 30%, and the sales volume of the store driven by interest-free installments has increased by an average of 15%.

Not only that, Huabei installment has gradually upgraded to a comprehensive solution to help merchants grow on the basis of financial tools, aiming at the three key links in the sales chain to help merchants promote conversion, growth, and increase unit price. Currently, these solutions have been applied in brands such as Huawei, Honor, Haier, Xiaomi, and Hangzhou Stomatological Hospital.

Honor has closely cooperated with Huabei installment for two new product launches. He Jinqiu, Minister of Honor Mall Business Department, introduced, "The precise identification and computing power of the customer group by Huabei has brought a qualitative change to our new product launch. For example, the Honor Magic 6 series was launched on the Huabei channel. Compared with the previous series, the UV has increased by 30%, but the sales volume and GMV have increased by 400% and 500% respectively. This set of data shows that a good operation is not only relying on stacking traffic, but also improving the conversion rate of the crowd. At the same time, the growth of the sales amount is greater than the growth of the sales volume, which means that my customer unit price is increasing. This is the biggest gain we think from cooperating with Huabei installment."

Huabei installment is also exploring the integration of online traffic resources such as Alipay Live, Huabei Channel, and Mini Programs to open up a "new product launch position" for the brand in addition to providing customized financial services.

This is not a simple "traffic flooding", but the application of the digital intelligence capability and strong computing power behind Huabei in the business scene to push new products to the crowd with the highest conversion rate.

In response to the high-end development trend of brand merchants and to meet consumers' higher installment quota needs, Huabei installment is realizing real-time quota increase during payment through the real-time risk control capability of the scene. According to the different characteristics of various industries, consumers can obtain a medium and large credit quota in the transaction, improving the full rate of the consumption scene.

Hangzhou Stomatological Hospital has cooperated with Huabei installment to launch and upgrade the real-time scene quota solution for consumer medical consumption. Through the exclusive quota for industry merchants, it helps consumers apportion the high medical expenses to be paid in multiple months, thereby reducing the pressure of a single payment and effectively improving consumers' payment willingness.

As one of the earliest brands to start supporting Huabei installment interest-free, in September 2015, the official flagship store of Tmall Apple Store began to support Huabei and has long provided consumers with the preferential policy of Huabei installment interest-free for purchasing mobile phones.

In September this year, Apple's latest iPhone 16 series was released, and the Apple Tmall flagship store also provided consumers with Huabei 24-month installment interest-free. Driven by this welfare policy, the iPhone 16 Pro Max was sold out in an instant at the beginning of the pre-sale, especially the Desert Gold version. Tmall added replenishments overnight, up to 15 times within 1 hour. During the first-sale period, according to relevant sources, compared with the previous generation, the transaction volume of iPhone 16 still maintained a double-digit growth.

Recently, multiple departments have launched a package of incremental policies to combine promoting consumption with benefiting the people's livelihood, cultivate new consumption formats, and implement consumption-boosting actions. The latest data released by the Ministry of Commerce shows that in the first three quarters of this year, the total retail sales of consumer goods in China reached 35.4 trillion yuan, with a year-on-year growth of 3.3%, demonstrating the strong resilience and potential of the consumption market.

Wang Pengbo, the chief analyst of BOTONG Consulting, said that to stimulate consumption growth, efforts should be coordinated. While the country provides subsidies and support, the platform and merchants should actively follow up and use multiple overlapping means such as price discounts and interest-free installments to provide consumers with more diverse and high-quality consumption experiences. At the same time, it is also promoting the high-quality development of the consumption market and injecting a strong impetus to consolidate and enhance the positive trend of economic recovery.