JD.com reports record sales of $29.2 bn for 6.18 shopping festival
JD.com has reported record sales for its June 18 Anniversary Sale (6.18) attracting $29.2 bn in sales.
JD.com reports another year of record sales for its 6.18 shopping festival
The 6.18 shopping festival, which is the second largest after Singles Day (11.11), saw JD.com improve on 2018’s sales, which made $24.7bn and were also a record high for the company.
Once again JD.com’s 6.18 sales saw the e-commerce giant nipping at the heels of rival Alibaba, which reported sales of $30bn for its annual Singles Day shopping festival last year.
JD.com reported sales were driven by China’s lower-tier cities, where transaction volume growth was twice as high as the overall growth on the e-commerce site.
JD.com’s new big data strategy Consumer-to-Manufacturer (C2M), which provides customer insights to brands to enable them to adjust marketing and manufacturing processes to make it more accessible and appealing to consumers was put to the test during the festival.
JD.com claims this helped bolster transaction volumes of new products and C2M products by 289% compared with the same period last year, with one in every three products sold during this year’s festival being a C2M product.
Alibaba’s Tmall also reported strong sales for the 6.18 festival period, announcing that more than 100 brands including Apple, Adidas, Nike, L’Oreal and Huawei achieved sales of more than RMB 100m ($14.5m).
The sales figures are at odds with the concerns about China's economic downturn and reveal consumer spending remains on track.