Employees work at an airmail distribution center of China Post in Guangzhou, south China's Guangdong Province, on Nov. 10, 2020. (Xinhua/Deng Hua)
BEIJING, Nov. 12 (Xinhua) -- The Singles' Day shopping festival in China this year has seen multiple new consumption scenarios and models which show the great potential and resilience, and strong vitality of the Chinese economy, reported Economic Daily Wednesday.
This year's Singles' Day shopping festival was launched in advance, divided into two sales periods of November 1-3 and November 11, and within the 111 minutes since the first sales period was initiated at zero o'clock of November 1, 100 brands had each received a turnover of over 100 million yuan.
The performance of the festival also showed the recovery of China's domestic consumption amid the normalized prevention and control of the COVID-19 pandemic in China, as well as the continuous optimization and upgrading of China's consumption.
-- Constantly upgraded consumption structure
Healthy and smart home products were popular during the festival. On November 1 only, the sales of knife and cutting board sterilizers on China's retail giant Suning.com increased by 543 percent year on year, that of large capacity sterilizing and drying washing machines by nearly 200 percent year on year, and that of multi-door fresh-keeping and sterilizing refrigerators by 133 percent year on year.
New product consumption was also a highlight of the festival. More and more brands covering cellphones, home appliances, beauty and skin care, footwear and clothing have chosen to release new products around November.
For example, Huawei Mate 40 series went on sale for the first time on October 30, and the first round of products were sold out soon, with the bookings on Suning.com exceeding one million.
The new brands featuring elements like trendy design and technology core were also popular during the festival. At the special venue for new brands of Alibaba's e-commerce platform Tmall, more than 1,800 new brands each saw the turnover on November 1 exceed that of the whole day of November 11 in 2019.
-- Continuously enriched consumption experience
Live-streaming shopping, AR try-on, 3D shopping and other new scenarios of e-commerce consumption during the festival had brought rich consumption experience to consumers.
In this year's Singles' Day shopping festival, many e-commerce platforms had adopted live-streaming to sell goods. Data from Taobao, a major e-commerce platform of Alibaba, showed that within the ten minutes since the live-streaming started on October 21, the pre-sale volume had exceeded the sales volume of the whole day of November 11 in 2019, up by four times.
Personalized and customized consumption became a trend, and C2M (Customer-to-Manufacturer), a reverse customization model, was sought after. Relying on big data, C2M can accurately transmit consumer demands to upstream manufacturing enterprises and help them develop products that better meet market needs.
Data from Chinese e-commerce platform JD.com showed that the reverse customization of computer digital products such as game laptops, game desktops and type-C HD monitors has become the mainstream.
Within the ten minutes since the start of the sales on November 1, the sales of the digital game desktops on JD.com rose by 220 percent year on year, and 70-odd percent of the desktops were products of C2M reverse customization.
-- Continuously extended consumption scenarios
The online and offline integration was accelerated during this year's Singles' Day shopping festival, and the consumption scenarios kept expanding.
Alibaba has connected Alipay, its mobile payment platform,to takeout, food, hotels and other businesses, creating the entrance to local life scenarios.
JD.com launched a store carnival event, and nearly one million stores participated in the Singles' Day shopping festival sales.
Suning.com launched a subsidy of 10 billion yuan, with subsidy scope hitting offline stores for the first time. Data showed that from October 30 to November 3, Suning.com's Carrefour full-channel gross merchandise volume (GMV) achieved a year-on-year growth of 39 percent, with home orders and service orders up 405 percent year on year.
Small and medium-sized businesses from various sectors also took advantage of the festival to make revenue. Tmall has stepped up support for "factory goods" this year, introducing flow support and origin subsidies, and joining hands with local governments to issue targeted consumption vouchers. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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