What cosmetics, home appliances and ‘mystery boxes’ tell us about the Asian nation’s evolving consumer habits.
- The ‘618’ Shopping Festival, by JD.com, is the second-largest shopping festival in China
- 2021’s ‘618’ saw gigantic sales volumes of high-value products, especially home appliances and cosmetics, as well as peculiar goods like mystery boxes.
- Overall, the engine driving ‘618’ sales in China show no signs of stalling out.
(Reading time: 9 minutes)
The ‘618’ Shopping Festival, a traditional mid-year digital shopping event in China, was initially launched by JD.com for its anniversary promotion in 2004. Since then, it has grown into the second-largest shopping festival in China, trailing only the so-called ‘Singles Day,’ another event happening on November 11, initiated by Alibaba. Both events are widely adopted by the country’s major e-commerce platforms.
Compared with previous years, 2021’s 618 saw gigantic sales volumes of high-value products, especially home appliances and cosmetics, as well as peculiar goods like mystery boxes. Some of the commercial highlights included numerous pre-sale activities, fired-up consumer enthusiasm and expectations. Overall, following the hype around this shopping event, the sales across categories rocketed by double-digit numbers.
This article is an attempt to investigate China’s current digital consumption trends through the prism of JD.com’s sales statistics during 618. Here, we look into two product categories representing the recent shift in the country’s citizens’ spending patterns. We also pay attention to new developments indicating the maturity of the e-commerce industry in China.
According to JD.com’s data, this time, it recorded a 100% transaction growth spurt in the first 10 minutes on June 18, with a total transaction volume of over CNY 343.8 billion throughout 618. Moreover, during the 18-day (from June 1 to 18) sale, it reported a total gross merchandise volume (GMV) of over CNY 305.6 billion. Most notably, its growth rate (27.8% year-on-year) was higher than that in the past two years.
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