close
close

Early 618 sales data reveal the latest consumer trends in China

Posted on by darion

Photo source: Shutterstock

|

The data comes from the first hours of sales at 6:18 a.m. on Alibaba Group’s e-commerce platforms Taobao and Tmall and paints a picture of strong consumer demand across all categories.

On May 20, between 8 p.m. and 9 p.m. Beijing time, 28 brands exceeded RMB 100 million ($14.1 million) in gross merchandise value (GMV), and 216 products alone generated more than RMB 10 million in GMV.

By midnight, another 31 sellers had joined the RMB 100 million club, and 160 more products had crossed the RMB 10 million threshold.

China’s second-biggest shopping festival has undergone a transformation this year after Alibaba’s domestic marketplaces decided to scrap its pre-sale period in favor of two shopping windows running from May 20 to June 20.

The platforms have also brought back the popular in-app sales spot where products are 50% off during the 6:18 period, in addition to the traditional 15% discounts on a wide range of products and the classic offer of “50 RMB ($7.05) off every RMB 300 spent “.

Consumers get the most out of sales.

Visits from members of Tmall’s 88VIP loyalty program increased by 40% year-over-year on the first day of sale on 6/18, while the number of members placing orders increased by more than 50%.

The platform’s most loyal customers also buy more: the average order value of 88 VIP members increased by more than 30% year-on-year.

Driving demand

Several product categories and brands stood out from Tmall’s early sales data.

In the first hour of sales on May 20, Apple recorded over RMB 1.5 billion in GMV as shoppers flocked to buy iPhones and other models for less, while smartphone brands such as Huawei and Xiaomi recorded over RMB 100 million in GMV .

Consumers also quickly stocked up on home appliances, as the entire range of brands in the category – including Haier, Gree and Midea – achieved over RMB 100 million in GMV in the first hour.

Shoppers moved quickly with offers from beauty brands Proya, Lancome, L’Oreal and Estee Lauder, with GMV sales exceeding RMB 100 million each in the first 30 minutes of sales.

This year’s 6.18 sale features over 200 brands from five of the world’s largest luxury conglomerates, and in the first hour, sales from brands like Miu Miu and Valentino exceeded last year’s full-day sales.

But it wasn’t just the big brands that captured consumers’ attention – on the first day of sales, 370,000 small businesses saw their GMV double year-over-year.

Discover more stories from China’s vibrant e-commerce sector