The Transaction Values of China’s “618” Shopping Gala Hit a New High
Jun 21, 2019
GMV of maternal and child category hit 100 million RMB in the first 2 minutes on Tmall.
During “618” shopping festival there were 2 million liters of imported liquid milk sold on Tmall global
“618” is a Chinese shopping carnival in a similar vein as Alibaba’s 11.11 festival or Black Friday in the US, in which China’s major ecommerce platforms offer reductions and promotional offers. Different from last year, this year’s activity started on 1st June and lasted for 18 days. According to Syntun data , the GMV (Gross Merchandise Volume) of 50 major e-commerce platforms hit 318 billion RMB during the promotional period, representing a year-on-year growth of 11.8% and surpassing the daily transaction value of the 2018 “11.11”.
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