Jun 18, 2022|
JD618 Grand Promotion Propels China’s Biggest Consumption Surge of 2022
by Yiming Yan
JD.com kicked off its peak night of the 19th JD 618 Grand Promotion at 8 pm on June 17, resulting in the year’s biggest consumption boom so far, with 11 stores’ turnover exceeding RMB 100 million yuan in less than 10 minutes—a clear indication of the recovery of consumer demand in major cities and the wider market.
“Quality consumption” has been a common goal for users and retailers during the JD618 Grand Promotion this year. The turnover of ultrabooks, which are leading high-end consumer trends, climbed by two times year over year in the first ten minutes. Air conditioners, gaming TVs, RF (radio frequency) beauty instruments, and other new stylish household appliances are also in demand, with sales of 65+ inches TV exceeding the entire day last year in just ten minutes.
What’s more, since June, the trend of resuming work and production has resulted in structural changes in categories, shifting consumption from “home consumption” to “productivity consumption,” guiding consumption structure development to a more reasonable proportion. Office stationery had a 100 percent year-on-year growth, and home printers had a 200 percent year-on-year growth in the first 10 minutes of the peak night.
The ongoing development toward more premium products remains strong, with social consumption becoming more individualized and diverse. Users’ demand for products has extended throughout the entire life cycle of consumption: Before, during, and after-sales. “Services-driving-consumption” has continued to take shape. The turnover of home appliance trade-ins climbed 6 times year-over-year in the first 10 minutes of the peak night, and the turnover of JD appliances’ value-added services increased 150 percent year-over-year.
Consumers in Hong Kong, Macao, Taiwan, and other overseas markets were also enthralled. The first order for JD’s global sales platforms came from Chicago, and the first order for JoyBuy, JD’s B2B cross-border e-commerce platform, came from Indonesia. Chinese domestic brands have seen a 128 percent boost in global sales year over year since the start of the JD618 Grand Promotion.
Following a slow consumer market in April-May, JD 618’s peak night also paid great attention to assisting small and medium-sized businesses in the industrial zone, as well as the regeneration of the countryside. The turnover of Yunnan small grain coffee increased 5 times year on year, while the turnover of Anxi Tieguanyin tea increased 240 percent year-on-year in the first 10 minutes of the peak night.
According to a third-party organization’s report on “New Trends in Online Shopping Consumption,” the pandemic has reshaped online shopping habits, with respondents being more concerned about delivery time and availability of goods, and JD.com being preferred by 88.9 %percent of consumers as a reliable channel, ranking first in the industry.
“Unlike earlier JD618s, which focused solely on economic and industrial value, this year’s JD618 Grand Promotion also includes social value,” said Wei Jianguo, vice chairman of the China Center for International Economic Exchanges and a former vice-minister of the Ministry of Commerce.