June 18th is “sold” in China, and it is a big online event for most ecommerce Companies and Brands.
618 Shopping Festival
June 18th is JD.com’s birthday, this event is initiated by JD, the second ECommerce site in China.
More than two decades ago, in 1998, 25-year-old Richard Liu committed RMB 12,000 yuan of his savings and leased a four-square-meter retail booth in Beijing’s technology hub of Zhongguancun. In a mall called “Haikai Market” (海开市场), he established JD Multimedia (京东多媒体), selling authentic-only laser products when many other peddlers haggling with customers and fake products were prevalent. source JD
618 Shopping Festival is a prime opportunity for international brands to get a glimpse into the biggest market in the world and prepare to experience the incredible buying power of the Chinese middle class.
China’s major shopping festivals have become crucial indicators of consumer sentiment in the world’s second-largest economy, closely observed by retail analysts and investors.
PreSales on Alibaba : Calendar
During the pre-sales period, which took place from May 26 to May 31, customers had the opportunity to reserve discounted items on Taobao and Tmall. These reserved items can then be purchased at the checkout window between May 31 and June 3.
Tmall will kick off a new round of offers from platform-operated stores on June 4, continuing until June 13. The discount sequence will commence with skincare products, followed by fashion, household appliances, and imported goods. Each category will have a 72-hour shopping window with exclusive discounts, while imported goods will have a 24-hour window.
The main event of the 6.18 festival begins on June 15, and the discounts offered will expire on June 20.
LIvesteamer, Bloggers, & KOL
Livestreaming sessions play a significant role in the build-up to the 6.18 festival, allowing brands to create immersive shopping experiences and reach new consumers.
Top Brands join
Even consumer electronics giant Apple has embraced this trend by showcasing its smartphones, tablets, and computers through its inaugural livestream on Taobao Live, the livestreaming shopping platform integrated into Taobao and Tmall apps. During the first hour of the livestream on May 31, over 1.3 million people tuned in to learn about maximizing the usage of Apple products from company representatives.
Taobao live is on fire
Taobao Live is also providing a platform for small and medium-sized businesses to attract shoppers. Through a collaborative effort with local governments, Taobao Live will host 10,000 livestreaming sessions across 11 Chinese cities during the 6.18 festival.
The objective is to nurture 3,000 livestreaming hosts and launch 1,000 streaming channels.
Moreover, a livestreaming contest will take place on Taobao Live during 6.18, offering the final winner a cash prize of up to RMB1 million.
DISCOUNT FIGHT
Taobao and Tmall are providing discounts on more than 60 million products during the pre-sales period for this year’s 6.18 Mid-year Shopping Festival, a significant retail event in China.
From May 31 to June 3, customers on Tmall, a business-to-consumer shopping app, will receive an automatic discount of RMB50 ($7.85) on their bill for every purchase of RMB300 or more. On Taobao, a consumer-to-consumer platform, customers will save RMB30 for every purchase of RMB200 or more.
In addition to the discounts offered by merchants, Taobao plans to subsidize consumer spending with RMB10 billion during the 6.18 shopping festival, targeting bargain hunters across the nation.
The recovery of the Chinese Market
This year’s 6.18 festival takes place as China’s economy recovers from the impact of the coronavirus pandemic. Market analysts indicate that consumers remain cautious about purchasing high-value items and are seeking quality products at competitive prices.
China’s major shopping festivals serve as indicators for consumer sentiment in the world’s second-largest economy, closely monitored by retail analysts and investors.
+70% for Luxury & beauty Brands
Beauty Brands like L’Oréal, E. Lauder Sales, Chanel, Fendi, Prada Surge In China’s 6.18 Shopping Festival
Popular categories are skincare, makeup and fragrance 6.18 sales +70%
If you need a ROI E-Commerce agency , feel free to send your products/brands for an estimation
