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 battle field 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 platforms, 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 livestreaming e-commerce platforms) was 695.9 billion RMB. The GMV of traditional e-commerce platforms was 582.6 billion, with Tmall platform ranking first. Livestreaming e-commerce platforms performed brilliantly, with the GMV of 144.5 billion. New retail platform 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 the GMV of 87.9 billion RMB .
