618 promotion transaction volume is quite interesting to many people. Syntun has released reports upon that. Firstly, the total transaction volume reached 695.9 billion yuan during 618 promotion period, an increase of 8.2% year-on-year. Secondly, the total sales volume of comprehensive e-commerce reached 582.6 billion yuan, an increase of 0.7% year-on-year. Thirdly, the total sales volume of live streaming e-commerce reached 144.5 billion yuan, an increase of 124.1% year-on-year. Moreover, the total new retail sales reached 22.4 billion yuan, an increase of 26.0% year-on-year. In addition, the total sales of community group purchase reached 15.3 billion yuan, an increase of 15.4% year-on-year. In the recovery stage of the epidemic, mandatory consumption has won over optional consumption.
Platforms developed new retail and had highlights during the promotion period
Through the combination of digital commerce and technology, platform delivered rich SKUs from major manufacturers to consumers to meet the needs of stock up and supply of necessary materials. During the epidemic, these measures have strengthened the trust and wisdom of consumers. For example, JD supermarket made remarkable achievements in various categories of daily necessities. And the seven consumption trends reflected the upgrading demand of residents’ consumption. Another example is Meituan Shangou. As a platform of building a home for all things, it has turned huge user base into the potential of new retail users.
The commodity retail is recovering with retail e-commerce bouncing back
According to the data of the Bureau of statistics, the total retail sales of social consumer goods in May was 3354.7 billion yuan, a year-on-year decrease of 6.7%. And the total retail sales of goods decreased by 5% year-on-year. Compared with the same period in February through April, the total retail sales of goods are accelerating the repair and showing resilience. From January to May, the national online retail sales reached 4960.4 billion yuan, a year-on-year increase of 2.9%. Among them, the online retail sales of physical goods reached 4271.8 billion yuan, an increase of 5.6%.
The epidemic disturbance in Q1 and Q2 stimulated the platforms and SMBs to participate in the 618 promotion. As a result, the total retail sales of social consumer goods and the total online retail sales of goods are bouncing back. Different parties have made various efforts to promote the steady growth of the total online transaction volume of the shopping festival. The e-commerce segment showed its own strengths.
Deep Digital China will continue to report transaction volume of major promotions in China. Please talk to us if you need our advice on your ecommerce promotion.