China’s largest shopping festival, known as Double 11 or the 11.11 Shopping Spree, kicked off earlier than ever this year, spanning from October 8 to November 11. Major e-commerce platforms such as Taobao, Tmall (both under Alibaba), and JD.com launched a variety of promotions, aiming to captivate consumers and maximize orders during this extended sales period.
The extended duration offers consumers more time to browse and make purchases, merchants ample opportunity to prepare, and eases pressure on logistics providers handling the surge in orders. Monday marks the final and most critical day of the shopping festival, with final transaction results set to be announced on Tuesday.
One of the significant highlights this year is the substantial discounts of up to 20% on home appliances and computers. Sales in this category have soared compared to the same period last year, fueled by China’s trade-in programs, government subsidies, vouchers, and discounts offered by e-commerce platforms. Consumers are capitalizing on these deals across multiple platforms, upgrading their home technology and electronics.
For instance, Tmall reported an impressive 18-fold increase in refrigerator sales on October 14 compared to the same pre-sale period last year. This surge reflects not only the attractive discounts but also a shift in consumer behavior, with more people investing in home appliances and electronics, possibly influenced by the increased time spent at home.
The longest edition of the Double 11 festival showcases not only intensified competition among e-commerce giants but also the evolving consumer landscape in China. As the final day unfolds, all eyes are on the transaction results, which are expected to set new records and provide insights into China’s economic trends and consumer confidence.
Reference(s):
Subsidies, discounts: China's 11.11 shopping spree goes beyond that
cgtn.com
