Reported 10 months ago
China's mid-year e-commerce festival, known as the '618' festival, failed to create much excitement among shoppers according to industry experts. Major platforms extended offers over a longer period to attract consumers amidst economic challenges. The festival, the second-largest annual sales event in China after Singles Day, is seen as a test of consumer spending. Despite year-round discounts, the festival still saw increased sales performance, with platforms like JD.com reporting record turnover. However, the extension of the sales period and ongoing consumer belt-tightening led to less enthusiasm for the event compared to previous years.
Source: YAHOO