Shifting Trends Behind China's Record Shopping Spree

CNC
Added On November 18, 2019

Chinese on-line shoppers broke a string of records on Alibaba's Singles Day this year and the underlying numbers reveal some surprising new trends. E-commerce giant Alibaba says sales its online sales reached a record 268 billion yuan or more than 38 billion U.S. dollars on November 11th, up more than a quarter form last year. Other major on-line retailors: JD.com handled about 204 billion yuan in sales in the ten days leading up to November 11th. Suning saw its Singles Day order volumes shot up 76 percent year on year. A growing number of online shoppers, from different age groups and cities, joined in the world's biggest shopping festival. Over 500 million Chinese consumers bought something on Alibaba's major e-commerce platforms, 100 million more than last fall. The increased were attributed to a number of factors, including, greater purchasing power, and creative subsidies and discounts from emerging social e-commerce platforms. While big foreign brands continued to reap big during the shopping festival, many domestic brands, especially in smartphones and apparel, are winning more consumers. Services consumption is also rising. Door-to-door beauty care, luxury product maintenance and other services were popular on e-commerce platforms during this period.