The Transaction Values of China’s “618” Shopping Gala Hit a New High

“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 1^st June and lasted for 18 days. According to Syntun data ^[1], 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”.