Skip to content
Upgrade to Intel
Subscribe and gain unlimited access to exclusive features and content

China’s 618 festival sees cautious spending amid uncertainty

China's mid-year e-commerce sales festival failed to generate significant excitement among shoppers despite extended offers, reflecting a cautious consumer sentiment amid economic uncertainty. Named after JD.com’s founding date, the 618 festival is a key indicator of household consumption, but faced challenges with a diminishing buzz and ongoing consumer belt-tightening. Although JD.com reported record turnover and order volumes, the exact growth rates were undisclosed. Analysts expect a modest GMV growth similar to last year's 5.4%. Major platforms like JD.com and Alibaba extended sales periods and eliminated pre-sales phases to adapt to market conditions. Despite some sectors outperforming, overall enthusiasm was low, partly due to frequent discounts and an abundance of shopping festivals.

Get more news based on your interests