Home News Annual 618 Shopping Festival Boosts Chinese E-commerce

Annual 618 Shopping Festival Boosts Chinese E-commerce

Annual 618 Shopping Festival Boosts Chinese E-commerce

China just concluded its mid-year e-commerce shopping festival known as “618”. It’s the second-largest e-commerce shopping festival in China-second only to “Single’s Day” (November 11)-and possibly the second-largest shopping festival in the world.

As the most important consumer battlefield in the first half of the year, the annual “618 Shopping Festival” has become a crucial market of business for all e-commerce platforms, and the pre-sale of “618” has also started as early as May. This year’s “618” features better users’ shopping experience and more simplified promotion rules, richer lists, more efficient logistics, and more considerate after-sales services provided by each e-commerce platform, which attracted more consumers to join the online shopping spree.

According to Syntun,  a professional digital retail data service provider, during 2022 China “618” (from 20:00 on May 31st to 24:00 on June 18th), the GMV of the major e-commerce platforms (only including traditional e-commerce platforms and live streaming e-commerce platforms) was 695.9 billion RMB. The GMV of traditional e-commerce platforms was 582.6 billion, with the Tmall platform ranking first. Livestreaming e-commerce platforms performed brilliantly, with a GMV of  144.5 billion. New retail platforms and community group buying platforms have begun to join the “618” competition, the GMV reached 22.4 billion yuan and 15.3 billion yuan respectively. In terms of sales categories, household appliances remained one of the popular categories with a GMV of 87.9 billion RMB .


Canon India Appoints Manabu Yamazaki As New President & CEO

Canon India Pvt. Ltd., the global leader in imaging technologies, announced the appointment of Manabu Yamazaki as the new President & CEO.

Long COVID: Why This Should Matter to HR

“Long COVID” is a term used to describe the long-lasting impact that COVID-19 can have on a person, many months after they first contract it.

Third of Employers Say Remote Working Has Boosted Productivity

According to new research by the CIPD, employers have largely seen a benefit in productivity due to the shift to remote working.

US Economy Grew Robustly in First Quarter

GDP grew at a 6.4% annual rate in the quarter, leaving the economy within 1% of its peak.

Asia-Pacific Markets Broadly Lower As Investors Turn Cautious

Asia-Pacific markets struggled for gains Friday as investors turned cautious, despite a positive finish stateside in the previous session.

Latest posts