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Community group-buying may usher a boom in China as next billion-dollar market
Twelve years have passed, and Double 11 is a time of great change.
In the beginning, this online promotion was designed to attract brands to embrace e-commerce, but today, Double 11 has grown into a consumer boom that sweeps both online and offline stores, and has penetrated everywhere in the retail industry. In addition to some big national brands, community stores have also joined the Double 11 craze this time.
Take community group-buying platform Xingsheng Youxuan as an example. During the Double 11 shopping festival, Xingsheng Youxuan launched a theme activity to promote the products, including fresh produce, cosmetics, home appliances, mother and baby, etc. It attracted tens of millions of users, and the number of the platform’s daily orders exceeded 10 million, with GMV increasing by more than 240% year-on-year.