Tmall’s 618 Shopping Festival Kicks Off With a Bang, Signaling Robust Consumer Demand
In a promising start to its annual 618 shopping bonanza, Tmall, the e-commerce platform, announced impressive early sales figures, underscoring the strength of consumer spending despite broader economic concerns. According to an official statement released on Friday, by 9 PM on May 30th, a remarkable 217 brands, including prominent names like Apple, Midea, Haier, Xiaomi, and Huawei, had already surpassed 100 million yuan in gross merchandise value (GMV), achieving record-breaking sales performances.
The platform reported that various sectors, including 3C electronics, beauty, home appliances and furnishings, apparel, sports and outdoors, and pet supplies, all witnessed sales exceeding initial expectations. This positive momentum is being fueled by a combination of government subsidies and Tmall’s aggressive promotional strategies, with significant discounts on home appliances, home furnishings, mobile phones, and digital devices.
During the initial phase of the 618 campaign, the combined GMV of home appliances, home furnishings, mobile phones, and digital products participating in government subsidy programs surged by 283% compared to the previous year’s Double 11 event. Notably, brands such as Midea, Haier, Xiaomi, Huawei, and others have been major contributors.
Tmall emphasized that the discounts offered this year are among the most substantial in the platform’s history, coupled with user-friendly promotional rules. Customers benefit from an 85% discount on brand-specific products and can further leverage the new 88VIP large-value consumer coupons, which provide a 10% discount on every transaction without any minimum purchase requirements.
Additionally, these promotions can be stacked with other category-specific coupons and government subsidies, resulting in discounts of up to 50% on certain items. The initial results of the 618 campaign suggest a robust appetite for consumer goods and potentially indicate shifting consumer preferences and economic health within China.
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