Small-town folks spend big in 618 festival
June 21, 2019
The 618 mid-year shopping festival which kicked off at the beginning of the month wrapped up this week, and all the evidence indicates that consumption remains strong.
JD.com’s transactions between June 1 and June 18 were 27 percent up on last year at 202 billion yuan (US$ 29 billion). Home appliance sales hit the 1 billion yuan mark in just 2 minutes and 36 seconds on June 18, last day of the festival and the ultimate price-slashing day.
Alibaba Group said its 18-day campaign helped more than 100 brands turnover more than 100 million yuan each. During last year’s Singles’ Day, more than 230 brands on Tmall made more than 100 million yuan in 24 hours.