An online presenter promotes leather handbags through a live streaming platform in Xinji, northern China's Hebei province, June 5, 2020. [Photo/Xinhua]
China's leading e-commerce platform will offer deep discounts and shopping subsidies, as well as cancel pre-sale campaigns and promote sales during the extended online shopping carnival period on June 18 (commonly known as “618”) this year. This simplifies the process, making direct price reductions the preferred strategy.
Industry experts said Chinese consumers are becoming more rational and cautious about their potential purchases. So this time, online retailers are taking a more pragmatic and simple approach, focusing on low-priced products and the use of live streaming for product promotions to attract price-conscious customers and increase sales. I'm leaving it there.
According to data from Tmall, the business-to-business platform of Chinese tech giant Alibaba Group, 59 brands generated sales of 100 million yuan ($13.8 million) in the first four hours of the mid-year promotional event, which began at 8 p.m. Monday. It has been shown that it has exceeded. .
According to Tmall, the sales of Apple products on Tmall exceeded 1.5 billion yuan in the first hour, exceeding the sales of domestic smartphone brands such as Huawei, Xiaomi, and Vivo in the same period. Sales of the medium exceeded 100 million yuan.
In addition, the trading volume of 11 cosmetics and skin care brands and 23 home appliance brands, including Haier, Hisense, and Dyson, exceeded the 100 million yuan threshold in the first four hours.
US tech company Apple has launched a promotional campaign offering up to 2,300 yuan off on iPhone 15 models at its official Tmall flagship store in China, in a bid to reinvigorate domestic demand for its flagship products.
For example, the iPhone 15 Pro Max started selling on Apple's online store Tmall for 7,949 yuan, a price reduction of more than 2,000 yuan compared to the 9,999 yuan price when the new series was released last September.
Meanwhile, Apple is offering deep discounts and deep discounts on iPhone 15 models on Chinese e-commerce giant JD's online marketplace.
The price of the 256GB iPhone 15 Pro is now 6,999 yuan, about 2,000 yuan cheaper on the platform.
Dong Puyu, a researcher at CIO Manage, a Beijing-based digital economy market consulting firm, said that with major e-commerce companies canceling advance sales for this year's June 18 shopping festival, rules for online shopping will be simplified. , said that consumers' shopping experience and services have been further optimized. .
“In the long term, the simplification of promotional events and direct price reductions will help promote the healthy development of the e-commerce industry and better protect the rights and interests of consumers,” Dong said. .
However, he added that this move could lead to increased competition among e-commerce platforms, requiring merchants to adopt new sales strategies and adjust their inventory management models.
Given that Chinese shoppers are becoming more rational and carefully consider their needs, e-commerce companies are stepping up efforts to offer cost-effective products and stepping up investments in live-streaming sessions and content amid intensifying competition from short-video platforms, Dong said.
The promotional gala on June 18 is expected to play an important role in stimulating consumer purchasing intentions, promoting consumption recovery and supporting the economy, said a member of the National Development Authority. said Wang Yun, a researcher at the Macroeconomic Research Institute. and the Reform Commission.
