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China’s midyear 6.18 Shopping Festival wrap-up: lower-tier cities and group buying become the winning formula
June 18th was originally the day when JD.com was founded, but now it has evolved into the mid-year "training ground" of the entire e-commerce industry.
This year's 6.18 shopping festival has just come to an end, and various e-commerce platforms have also released relevant sales data. For example, JD announced that the platform order amount has reached 2015 billion RMB during the 18-day promotion period from June 1 to June 18; The orders of Pinduoduo exceeded 1.1 billion RMB, GMV increased by more than 300%; Over 110 brands in Tmall exceeded 100 million, the highest growth exceeded 40 times; Suning.com's orders increased by 133%; Yunji's total turnover during the June 18th period increased by 81.4% year-on-year.
As a whole, the third-party data agency Syntun monitoring report shows that during the entire 18-day promotion period (June 1st - June 8th), the total network e-commerce transaction totaled 318.075 billion yuan, an increase of 11.8%. The Netcom E-Commerce Research Center estimates that during the period of 6.18 shopping festival, the e-commerce industry will reach an order amount of more than 400 billion yuan.
Behind the data not only shows the development of the overall market, but also reflects the changes in the competitive landscape. Cao Lei, director of the E-Commerce Research Center, told the Times Weekly reporter that the biggest feature and variable of 6.18 this year was the "the battle between Tmall and JD, which quietly evolved into a competition between Alibaba, Pinduoduo and JD.