Experts said major eCommerce platforms have taken a more pragmatic approach and simplified promotions this year. — China Daily
BEIJING: Consumer enthusiasm for online shopping in China has been evident during this year’s “618” shopping carnival, an extended sales event that wrapped up on Wednesday, which experts say has played a pivotal role in unleashing domestic demand potential, promoting the recovery of consumption and shoring up the economy.
Emphasising that consumption has become a major driving force for China’s economic growth, they said major eCommerce platforms have taken a more pragmatic approach and simplified promotions this year, with a key focus on stepping up support for merchants and offering more cost-effective products for consumers.
They said home appliances and smart electronic gadgets have gained in popularity among Chinese shoppers amid the country’s drive to boost consumption, which includes the expansion of the consumer goods trade-in programme.
Data from eCommerce giant JD, which initiated the mid-year promotional campaign, showed that sales of smartphones priced between 4,000 yuan (US$556.70) and 6,000 yuan rose 50% year-on-year (y-o-y) during the promotional gala, which kicked off at 8pm on May 31, while the turnover of artificial intelligence-powered laptops surged 151% from a year earlier.
China’s Generation Z shoppers – those born between the mid-1990s and early 2010s – have shown robust purchasing power for personalised and trendy commodities, with electronic gadgets, mobile phones, home appliances, apparel, and beauty and skincare products being the most popular items among young consumers, JD said.
Moreover, an increasing number of overseas consumers participated in the “618” promotional gala. Orders from JD Global Sales, JD’s cross-border eCommerce business division, soared 236% y-o-y.
According to Tmall, Alibaba’s business-to-customer platform, turnover of home appliances, mobile phones and digital products participating in trade-in programmes increased 283% compared with last year’s Singles Day shopping extravaganza, a weeks-long sales event that peaks on Nov 11.
This year’s Government Work Report listed vigorously boosting consumption and expanding domestic demand across the board as key priorities for 2025. — China Daily/ANN
