Alibaba Group’s Post

How’s China’s second largest shopping festival, 618, going this year? 🇨🇳🛍️ While all major Chinese ecom platforms are still invested in shopping festivals, the focus is shifting. 🤪 Just sales are less appealing. More below. 🤪This year many e-commerce platforms once again extended the promotional period to a month, “enhancing user experience and consumer value” by cancelling pre-sales. Tmall's 618 sales, for instance, kicked off on May 20, and by midnight on May 21, 59 brands had already hit sales over 100 million yuan. 🛍️ On Tmall, 370,000 small merchants saw their first-day transaction volume more than double compared to last year. 🛍️ Interestingly, from May 20 to June 16, Guangzhou Customs oversaw over 52.4 million cross-border e-commerce transactions, marking a 2.6% year-on-year increase. 🛍️ This being said, for years now neither Alibaba nor JD and RED have disclosed their GMV. Here are some 618 consumption trends from the first hours of the sale. 👇 ✔️ In the first hour on May 20, Apple recorded over 1.5 billion yuan in GMV as shoppers rushed for deals. Huawei and Xiaomi also reported over RMB 100 million in GMV. ✔️ Home appliances were big, with brands like Haier, Gree, and Midea each surpassing 100 million yuan in GMV in the first hour. ✔️ Beauty brands like Proya, Lancome, L’Oreal, and Estee Lauder, each surpassed 100 million yuan in GMV within the first 30 minutes. ✔️ Over 200 luxury brands are participating in this year's 618 sales, with brands like Miu Miu and Valentino surpassing their last year's full-day sales within the first hour. What’s your take? 🤓👇 Is there a future for Chinese shopping festivals, or are they a thing of the past? — #china #ecommerce #digitalmarketing Insights via SCMP, Alizila, video via TripinChina on X ❗️ Drop me a message to work with me on marketing solutions for your team.

E-commerce Festival season sale E-commerce retailers are expected to garner sales worth Rs 90,000 crore this festival season, 18 to 20 percent higher than last year, according to an earlier report by GMS. This shall be driven by about 140 million shoppers who are expected to be transacting online at least once during the festival month. . . #globalmatrixsurvey #ecommerce #festival #sale #business #marketresearch

E-commerce Festival season sale E-commerce retailers are expected to garner sales worth Rs 90,000 crore this festival season, 18 to 20 percent higher than last year, according to an earlier report by GMS. This shall be driven by about 140 million shoppers who are expected to be transacting online at least once during the festival month. . . #globalmatrixsurvey #ecommerce #festival #sale #business #marketresearch

What is so special about 6.18? 6.18 is the second largest shopping festival in China! Many major e-commerce groups participate in the event including Alibaba’s Tmall and Taobao. With major sales, it is the perfect opportunity to buy new and trendy items. The popularity of this event has continued to increase year after year. The day initially represented the birthday of JD.com, one of the top Chinese e-commerce companies but has since expanded to be a multi-platform festival. Within the first hour, 28 brands had surpassed 100 million RMB and the number continues to grow. This has been particularly promising in the luxury field. Last year, the collective number for all e-commerce platforms was over 798.7 billion RMB. With large numbers like these, billions have been spent by Alibaba to make sure shipments and payments can be made in a timely manner as well as measures being taken to manage website traffic. With all the interest, Alibaba will have two waves of sales with the first starting on May 20 and lasting until June 20. This is a particularly successful time for international brands. According to CNN and Jing Daily, companies like Apple have already set discounts on their newest iPhone and luxury brands like Miu Miu have surpassed last year’s sales record. Nike, Lululemon, Lancôme and many more are also putting out discounts. So far some of the top selling categories include, beauty, luxury, and home goods. The popularity of live streaming has increased sales dramatically. Tmall, after partnering with 200 platforms, saw a 14 times increase in customer engagement. The use of KOLs to sell products has seen great success as many consumers listen to their favorites for the next product recommendation. These trends have caused a 3.8 times increase in the number of merchant live streams on the first day compared to last year. 6.18 continues to see increasing success year after year as digital technologies and e-commerce bring more consumers to purchase their new favorite products. #618shoppingfestival #chineseshopping #onlineshopping #ecommerce #chineseecommerce

Taobao and Tmall, two of the major E-commerce platforms in China, are shifting gears for the upcoming nationwide 6.18 Shopping Festival and will no longer be implementing the pre-sales model. Pre-sales was a previous model that the platforms utilised for domestic stores, allowing users to place deposits prior to the start of campaigns to guarantee product availability in the case of the product selling out. Oftentimes pre-sales would also offer additional discounts for consumers. The cancellation of this model comes as an attempt to increase competitiveness against other platforms, and prevent consumers from switching to other platforms during the pre-sales period. This is especially true as past issues with the pre-sales model have included product delivery failures, pricing inconsistencies, and unreliability of after-sales support. Replacing pre-sales, Taobao and Tmall will instead initiate two direct rounds of campaigns, starting on May 20th at 8 pm and May 31st at 8 pm. When it comes to brand strategy, the impact is likely to be minimal as we wait to see how consumers respond to the revamped promotional model. It may, however, have some impact on inventory management and also the ability for brands to warm-up the hype around the major sales period. To recap, the 6.18 Shopping Festival stands as one of China's largest online retail events, alongside Singles' Day/Double 11. Last year's event saw the cumulative GMV across E-commerce platforms of over CNY 798.7 billion (USD 111 billion). #RedFernDigital #China #Chinamarket #Ecommerce #618 #Ecommercefestival

The how (Q3) is more important than what (Q1, Q2). Q1: "About 185 brands – including Apple, Xiaomi and Huawei – have each achieved more than US$13.8 million in gross merchandise value on Taobao and Tmall" Q2: "Some 37,000 other brands have doubled sales year on year on those platforms during the initial period of promotions, preliminary sales data show" Q3: "Alibaba Group Holding’s sales campaign for this year’s 618 shopping festival is seeing strong momentum, according to preliminary data from the firm’s Taobao and Tmall platforms, helping boost the Chinese e-commerce giant’s prospects of returning to double-digit revenue growth by 2027." https://lnkd.in/g8QCZK-d

Big Changes Are Coming... China's second largest shopping festival is undergoing major changes. As the highly anticipated 618 promotion of 2024 approaches, Taobao Marketplace is shaking things up with some big changes. At the recent Merchant Conference, Taobao Group announced the cancellation of the presale mechanism that has been in place for a decade. So, what does this mean for shoppers? Well, for starters, this year's Tmall 618 will feature two waves of spot sales instead. The first wave kicks off at 8 p.m. on May 20th, followed by the second wave starting at 8 p.m. on May 31st. Why the change? It turns out, the old presale system had its flaws. From long waits between ordering and receiving products to shady practices by some merchants, like hiking prices or not delivering as promised, users were left frustrated. Taobao Group heard the complaints and decided it was time for a fresh approach. With these new changes, they aim to improve user experience and ensure a fairer shopping environment for everyone. What do you think? #China #Ecommerce #618 #ChinaBusiness #Retail

Jessie YuLu‘s China Talk: 📣 China’s 618 shopping festival wraps up📣 The 618 festival sales are the second-biggest annual online platform discount event after Single’s Day. The mid-year shopping event starts in early May and ends in late June. It provides an important insight into new consumption trends and serves as a barometer for the economy, supported by policies to stimulate domestic demand and purchases. This year's extended offers have dampened excitement for China’s mid-year e-commerce festival. Here are some trends from the festival: - Platforms dropped their pre-sale strategy due to the low demand. - Live streaming benefits brands by enhancing brand awareness and driving sales. - AI-driven personalization has transformed the digital shopping experience. JD.com used the CEO's avatar for the promotion. - Consumers experienced "fatigue" due to the long promotional period as their wallets were getting "exhausted." Resources: l https://lnkd.in/gJBUQPMd l https://lnkd.in/gidpXQST l https://lnkd.in/gxanK75e

E-commerce sales dropped 7.0% from a year ago during China’s second-biggest annual shopping event, the 618 festival, third-party data provider Syntun said in a report on Wednesday. The dip in the mid-year festival’s numbers came despite major player Alibaba achieving a historical record on 88VIP loyalty membership sign-ups and JD announcing that it had set a new record for both transaction volume and orders. https://lnkd.in/guACMFD3

🇨🇳 The Power of 618 Shopping Festival 🇨🇳 🛍 In China, June brings with it many important holidays, but perhaps the most profitable for the Chinese economy is the 618 shopping festival 🎉 This festival was born in 2010 to celebrate the anniversary of the creation of JD.com. e-commerce platform. and over the years, especially after the COVID-19, it has grown exponentially 💲 From June 1 to 18, many social and e-commerce platforms are participating in this festival, unveiling new products and promoting massive and unique sales 📈 Brands and labels participating in this festival and using e-commerce platforms need to maintain a high focus on winning marketing strategies 🌎 If foreign brands want to be successful in China they surely have to exploit the strong power of shopping festivals like the 618 💭 What do you think about the 618 shopping festival and brands' marketing strategies to gain customers and increase their influence in the mainland? Let us know with a comment down below ❗ 🖥️ If you want to know more here is the full article👇🏻 https://lnkd.in/gMz37pZC Go Beyond the Wall. #longadvisory #marketingchina #ChineseDigitalStrategy   #luxurymarket #socialmedia #socialmediamarketing #luxurybrands #ecommerce #chineseecommercemarket #taobao #socialmedia #ecommerceplatforms #618shoppingfestival