Just like Black Friday and The Double Eleven, 6·18 is an online shopping festival where Chinese consumers depict their buying power by going on a shopping spree.
A mid-year shopping extravaganza that starts pre-sale June 1st and culminates on June 18th, 6· 18 breathes new life in e-commerce with booming consumption translating intorecord-breaking sales.
So, what can you expect from this year's 618 Summer Shopping Craze? Here are three things to look out for:
1. Price Wars
All companies out there want to drive targeted traffic to their e-commerce platforms and convert prospects. Nothingdoes the job of hooking customers and getting them to purchase better than attractive prices.
While this continues to be the main feature every year with every platform, right from Taobao and JD.com to Pinduoduo and Suning.com engaging in price wars, this year, there’s a slight twist with thefocus on expanding the market scale.
Sure, burning money through promotions and advertising will stay, but the onus will be on attracting users by strengthening the online shopping experience and quality control.
2. Live-Streaming
In a world hard hit by COVID-19, customers are eager as well as excited to enjoy a wholesome shopping experience. Brands do realize that and hence, will turn to live streaming to promote online shopping.
Diversified and creative content in the formof live broadcasts will provide consumers the convenience, safety, and thrill of shopping that they are so longing for.
The platform that does it the best is expected to come out a winner.
3. Decentralized e-Commerce Models
New business models such as F2C (Factory to customer) and C2M (Customer-to-Manufacturer) are gaining traction andre-shaping the retail industry.
From shortening the supply-chains and lowering prices to giving consumers the freedom to get tailored products, these models provide significant value to consumers and retailers.
6·18 is getting bigger and better each year. Period.With price wars, live-streaming, and decentralized e-commerce models, brands and platforms are expected to embrace new ways to scale their business.