618 shopping day
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618 shopping day is a shopping festival created by JD.com. The festival is celebrated annually on the 18th June (6th Month), hence the name '618'.[1]
'618' is significant as is the date JD.com was founded by Liu Qiangdong on 18th June, 1998.[2] It was first started in 2010, as a competitor to the shopping festival launched by rival Taobao, Singles's Day (or Double 11 in Chinese).
In 2022, JD.com saw slower growth in the 618 shopping day event, due to slowing economic conditions and COVID-19 outbreaks in china.[3][4][5]
Adoption
Since its creation in 2010, June 18th has become the second largest shopping day in China after Singles' Day on November 11th. Although originally created by JD.com, it has now been adopted by other platforms, including Taobao, Pinduoduo and others. The volume of sales rivals Black Friday in the US. In 2020, there were hundreds of billions of USD in sales occurring across multiple platforms.[6] Massive volumes of sales have been reported in other years as well.[7][8][9]
A number of foreign companies operating in China have also taken part in the festival and offered their own deals for June 18th. In 2019, Apple sold 100 million CNY (about 15 million USD) of products within the first three minutes.[10]
References
- ^ "JD's priority for 618 2017: Online + offline in 5 areas". June 2017.
- ^ "Why June 18th (618) became a Shopping Festival?". Eggsist | IT advisory firm in China - Internationalization and software development. 2021-06-21. Retrieved 2022-06-22.
- ^ Reuters (2022-06-19). "China's JD.com posts slowest growth ever in '618' shopping event". Reuters. Retrieved 2022-06-22.
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has generic name (help) - ^ Kharpal, Arjun (2022-06-16). "China's multi-billion dollar shopping festival tests e-commerce giants and consumer appetite". CNBC. Retrieved 2022-06-22.
- ^ Ahern, Brendan. "Shopping Festival Sales On June 18 Rise & Highlight New Consumer Habits, Asian Equities Flash Risk Off". Forbes. Retrieved 2022-06-22.
- ^ 中国发展网, "万亿级销售总额,“618”购物节带动消费回暖", http://www.chinadevelopment.com.cn/news/zj/2020/06/1656783.shtml#, retrieved June 11th 2022
- ^ Xinhua, “618”电商网购节迎来高潮——线上汇聚消费新动能, [1], retrieved June 12th 2022
- ^ CCTV 《618电商购物节》 20210618, https://tv.cctv.com/2021/06/19/VIDElLcq5s01fdXBYmzvt5op210619.shtml, retrieved June 12th 2022
- ^ Tencent News, 京东618,怎么就成了别人家的狂欢节?, https://new.qq.com/omn/20210619/20210619A03EAI00.html, retrieved June 12th 2022
- ^ China Daily, June 18 shopping festival hits the mark, http://www.chinadaily.com.cn/a/201906/20/WS5d0afbd5a3103dbf143294e2.html, retrieved June 11th 2022