"618" Encounters Festivals, Online Shopping Highlights New Highlights Father's Day | Sales | Festivals

The transaction volume of high school entrance exam "good luck" products such as mother's cheongsam has increased dozens of times; The sales of popular Father's Day gifts such as tea sets and razors are on the rise; The diverse and personalized consumption of household atomizers, flowers, outdoor equipment, and other items is on the rise... "618" has arrived as scheduled, and "coincidentally" the college entrance examination season, Father's Day, and Dragon Boat Festival have presented many new highlights in the online consumer market.

The Ministry of Commerce has designated this year as the "Consumer Boosting Year". Several experts stated in an interview with People's Daily Online that during the 618 shopping festival this year, various platforms will further improve consumer experience in terms of pricing, scenarios, logistics, and other aspects, serving the quality and personalized needs of consumers. At the same time, accompanied by exciting consumer promotion activities across the country, it will effectively create a good consumption atmosphere and actively help the consumer market steadily recover.

"618" Encounters Festivals, Consumer Gifts Online Shopping Trends Upward

After being hailed as the "worst 618 in history" in 2022, various e-commerce platforms including Taobao and JD.com have regrouped this year, rubbing their hands and shouting the slogan of "the largest investment in history".

In June, when there are important festivals and milestones such as Children's Day, the college entrance examination season, Father's Day, and Dragon Boat Festival, consumers have shown great enthusiasm for online gift shopping, which has also become one of the important driving points for platforms during the promotion period.

During the "618" period in 2023, various e-commerce platforms will open shopping zones for Father's Day and Dragon Boat Festival. Drafted by: Shen Jiaping

According to Taobao data, the search and transaction growth rates of products such as mom cheongsam and customized cola, which represent good luck in the college entrance examination, have reached several tens of times. Xiaoxing from Dezhou, Shandong, once failed the college entrance examination and switched to starting a business on Taobao. This year on June 18th, he received a large number of orders and sold 20000 cans of customized Coca Cola for the college entrance examination in just a few days.

Before Father's Day, men's consumption gradually increased. Vipshop data shows that "618" has been on sale for 10 hours, and the sales of men's coats and men's skin care essence on this platform have exceeded 40% and 131% year on year, while the sales of belts and razors have increased by 33% and 31% year on year.

"My dad likes to drink tea, so I bought him a set of tea cups for Father's Day," said netizen Xiaolin. Online shopping has become an important way for busy young people to express love and filial piety. During the 618 shopping festival, many young people purchase the necessary products by calculating discounts and participating in activities. "During the '618' period, being meticulous and expressing my love for my father is not in conflict," said netizen Gao Gao.

Enhance awareness of health and self satisfaction, and diversify consumer demand

A bouquet of beautiful flowers, a health check-up, and a set of fishing equipment. This year's 618 shopping festival, many consumers have added more high-quality and personalized consumption needs to their shopping carts.

Guo Zhaofen, Chief Analyst of China International E-commerce Center, said that as the impact of the epidemic gradually subsides, the sales of goods have shown a good growth trend, with the growth of upgraded consumption accelerating.

"For example, the consumption of healthy exercise and green intelligent products is hot, and there is a strong demand for organic food, fishing equipment, outdoor products, quick drying clothing, floor scrubbers, drying and washing sets, customized home furnishings, etc. The enhancement of self satisfaction awareness drives the beauty economy, and sales of beauty, skincare and hair care, sun protection, etc. are also good," said Guo Zhaofen.

Data shows that within 4 hours of JD's 618 launch, the transaction volume of over 1100 beauty brands increased by 100% year-on-year; The sales of gold and jewelry categories increased by over 100% year-on-year; 857 outdoor equipment brands such as SHIMANO and Vickers have also seen growth exceeding 100%. After 28 hours of operation, the transaction amount of horticultural products increased by 100%, and the sales of flower categories increased by over 100% year-on-year.

At the same time, sales of health products are booming, showing a new trend of online drug consumption. JD 618 has been in operation for 28 hours, and the transaction volume of home use atomizers has increased by 2.8 times compared to the same period last year. The order volume for gastric pylorus testing, door-to-door gastroscopy testing services, HPV testing, and other services has increased by more than 5.5 times compared to the same period last year.

"More and more people are no longer blindly pursuing extravagant and wasteful 'buy buy buy buy'." According to Fu Yifu, a senior researcher at the Star Map Financial Research Institute, the concept of rational consumption is becoming more and more deeply rooted in people's hearts. At the same time, new green consumption phenomena such as the best-selling green appliances and the hot recycling of old items also reflect the changes in Chinese consumption habits.

Small and medium-sized businesses become the "protagonist" of low-priced promotions, empowering entities

Riding on the trend of consumer recovery, during the 618 shopping festival this year, e-commerce platforms have increased their support for small and medium-sized merchants, not only opening exclusive "protagonist" channels, but also increasing traffic and operational services.

For example, Taobao has set up exclusive marketing channels for small and medium-sized businesses for the first time, and has also launched measures such as advertising subsidies, AI intelligent efficiency improvement, business protection, and reducing merchant commission rates. According to Taobao, on the first day of "618" alone, more than 2 million small and medium-sized merchant stores achieved transactions. At the same time, multiple live streaming institutions have also launched exclusive traffic support, live streaming and other assistance measures for small and medium-sized businesses.

JD.com has released a "load reduction and income increase" gift package, stating that it will increase investment for all businesses by 20%, help businesses reduce operating costs by an average of 30%, and achieve a doubling of sales growth for small and medium-sized businesses.

Consumption is linked to the macroeconomic market on one end and the happy life of thousands of households on the other. With the presence of small and medium-sized merchants as a new force in e-commerce, the platform may provide consumers with clearer and more straightforward promotional rules, as well as more cost-effective and advantageous products.

"The platform places greater emphasis on quality improvement and provides as much support and assistance as possible to small and medium-sized businesses. This reflects that the entire consumer industry is returning to the essence of operation, which is to efficiently provide consumers with goods and services that exceed expectations, while creating greater long-term value for businesses, and thereby empowering the development of the real economy." Fu Yifu said.

Guo Zhaofen stated that new models such as live streaming have accelerated the integration of online and offline consumption, and will greatly stimulate the development vitality of small and medium-sized businesses. To further promote the driving effect of consumption on economic growth, she suggests issuing targeted consumption vouchers and subsidies to low-income and vulnerable groups; Strengthen the supply capacity of mid to high end consumer infrastructure, product services, etc; Promote circular consumption of automobiles, household appliances, and home furnishings; And guide to increase the research and development and production of green, low-carbon, digital technology, and aging friendly products.