According to the 618 Online Shopping Festival Overview by GroupM, Alibaba and JD set a new record of 967.4 billion RMB in sales at the shopping festival. Both developed and burgeoning e-commerce platforms, both online retailers and traditional offline retailers have started the transition, even short video platforms have shared the benefits of the 618 online shopping festival 2020. It is reported that JD’s live streaming sales reached 100 million RMB within 2 minutes, at least 150 brands in Tmall earned sales over 100 million, and Suning sold 400,000 iPhones during the 618 festival.
While providing unprecedented subsidies to consumers, these Chinese e-commerce parties reaped the benefits of live streaming sales. So, what are the new trends that have emerged from the 618 festival in 2020?
China Online Sales Growth Slowed Down During the Epidemic
According to the data presented by the top two e-commerce platforms, Alibaba and JD maintain their steady GMV growth in 2020. Meanwhile, a popular new platform called PDD is growing quickly and doubled the GMV.
China Online Shoppers Grow to Over 700M
Gen-Z Becomes the Key Consumption Group with Diversity and Individuality
Where Do the New E-commerce Users Come From?
Categories Go Up and Down
Learn these new trends in China and prepare for the next online shopping festival, stay tuned with eTOC!