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China Consumption Rebounds as E-commerce giants launched the largest mid-year online shopping event


JD.com kicked off 618 festival by announcing soaring sales across a number of categories. Photo: JD.com

E-commerce giants in China have launched their annual 6.18 mid-year shopping festival Considered China’s second most famous online shopping carnival (after Alibaba’s Taobao Singles’ Day on 11 November), 6.18 Shopping Festival usually starts in late May with pre-sales campaigns and the promotion starts in early June until late June.

But for this year, the three largest Chinese e-commerce companies — Alibaba, JD.com, and Pinduoduo are turning to aggressive discounting and vouchers for the 6.18 shopping festival as they seek to revive consumer spending in the wake of the COVID-19 outbreak.

“Online consumption has seen a post-pandemic revival since March, and the sales rebound that we have observed on Taobao and Tmall has been very encouraging,” said Liu Bo, GM of Tmall and Taobao (Alibaba group) marketing and operations. this year's 6.18 event could very well be an indicator of the recovery of Chinese consumption, particularly through online outlets.

Within the first 10 hours following kick off, the gross merchandise volume (GMV) has achieved 50% higher over the same period last year on Tmall. 100,000 merchants have participated in its month-long campaign.

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