If you want to tap into China’s e-commerce market, the first thing you need to know are online shopping festivals. You may have heard of Alibaba’s hugely successful 11-11 festival, which is two and a half times bigger than Black Friday and Cyber Monday combined. But that’s not where it stops for shopping festivals in China. More and more e-commerce platforms have created their own festivals to attract customers and boost sales. Beginning last week, Chinese netizens have been bombarded with online promotions promising them a share of billions of yuan in vouchers, and offers of refunds if they find a better price on another e-platform. trade. It’s all part of the “618” shopping festival. What is it about ? What is 618? 618 is an event that started as a mere promotion due to the founding anniversary of e-commerce giant in 1998, but has since grown into a huge shopping fest embraced by all major platforms.
How can European merchants benefit from
Chinese e-commerce companies Indonesia Phone Number List seeking to protect their share of consumer wallets. The size of the “618” shopping festival: statistics! In 2020, the 618 generated total revenue of 698.2 billion yuan ($98.49 billion). During the “618”, a total of 26.18 billion transactions were made, an increase of 52% compared to 2019, according to the NUCC. In the first hour of the morning of June 18, turnover increased by 100% compared to the previous year. The number of orders placed in 2020 increased by 33.6% compared to the previous year. 100,000 merchants registered to participate in Tmall’s “618” promotion, the volume of goods sold that day reached 10 million. The volume of orders on the Pinduoduo platform increased by 119% compared to last year. Since the launch of the “618” festival.
What are Chinese e-consumers looking
The total transaction amount of major DT Leads e-commerce platforms in 2020 on the “618” festival has seen strong growth, reaching 41.3%. “618” in 2021: a special festival in the midst of Covid-19? Can the “618” festival stimulate consumption and the economy in this difficult period? The answer is yes ! The epidemic has affected all aspects of society, as everywhere businesses have suffered damage and are eagerly awaiting 618, “a key battle”, either to reverse the trend or to ensure their growth. All figures of “618” of 2021 broke records: – This year, a total of 250,000 brands participate in this year’s “Tmall 618”, which is 2.5 times more than last year. – A total of 13 million products will participate in the discount offer, including 1.4 million new products.