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ECNS Wire

Record Singles' Day presales reveal consumption power

1
2019-11-07 16:47:01Ecns.cn Editor : Mo Hong'e ECNS App Download

(ECNS) -- Presales in the run-up to the Singles’ Day shopping bonanza on Nov. 11 continues setting records on leading e-commerce platforms, with many orders arriving from China’s rural areas.

Tmall, the online store from e-commerce giant Alibaba that started the shopping promotion 10 years ago, said 64 brands reported presales of more than 100 million yuan ($14 million) by Oct. 31.

Estee Lauder netted 500 million yuan in 25 minutes, equal to whole-day sales in the last shopping festival. Smartphone brands such as Honor, OPPO, VIVO and Xiaomi also saw presales that in 30 minutes beat the daily amount on Nov. 11 last year.

Data from JD.com showed customers placed 10,000 presale orders for a 65-inch TV in just 20 seconds, while refrigerators and washer-dryer combos also proved hugely popular.

The ZESPRI store, the world's largest marketer of kiwifruit, received presale orders on JD.com for 300,000 eggs and 30 tons of kiwifruit in 30 minutes.

Data showed customers from China’s smaller cities and the countryside are fuelling e-commerce as many platforms have expand their promotions beyond big cities.

Houses and cars are also among products promoted in the shopping festival this year. JD.com has worked with 200 developers to promote more than 6,000 houses, pledging a 50 percent discount if a buyer payed the full amount. 

E-commerce has become a key driver behind China's retail market. With online retail sales rising 16.8 percent year-on-year to reach 7.32 trillion yuan during the January-September period, according to the Ministry of Commerce.

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