Billions lie within China’s e-commerce market. Online sales in 2016 amounted to RMB 5.16 trillion – approximately US$758 billion. E-commerce giant Alibaba saw US$17.8 billion in sales last November 11 during China’s largest e-shopping festival, Singles’ Day. However, although China has a plethora of other online shopping events, few beyond Single’s Day have gained Western recognition.
Just last month, JD.com, Alibaba’s main competitor in China, celebrated its own shopping festival: “618.” Over the course of 18 days, the website amassed US$17.6 billion in income from sales. Large shopping festivals such as this hold significant potential for foreign businesses looking to sell their products in China.
Chinese shoppers respond strongly to sales and special promotions. Shopping festivals offer enticing opportunities for foreign businesses wanting to achieve higher sales, gain brand recognition, and market themselves towards Chinese consumers. This article provides an overview of China’s biggest e-shopping festivals.
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By Gidon Gautel, China Briefing