China's online shopping spree reveals fresh spending preferences
Young Chinese consumers are showing a growing interest in domestic brands while imported products continue to gain popularity, according to insights from Chinese e-commerce giant JD.com.
About 62 percent of the spending on products of domestic brands are made by consumers born in the 1990s and 2000s, analysis of the shopping big data on JD.com during the country's annual online shopping bonanza "Double 11" showed.
Featured with extensive and heavy discounts, the online shopping spree usually lasts from late October to mid-November, with a climax often seen on November 11.
On the other hand, the national pavilions that sell local specialties of foreign countries and online supermarkets selling imported products on the e-commerce platform saw their total transaction rise more than three times.
Products from European countries are very popular, especially those from France, Germany, the Netherlands, Italy, and Spain, data from JD.com pointed out, adding that cosmetics, maternal and infant products, and health products are among the best-selling goods.
First introduced in 2009, "Double 11" has continued to see the robust spending stream of one of the world's largest consumption markets.
The number of merchants participating in JD.com's "Double 11" promotion campaigns broke the record again, increasing by over 1.5 times compared with the same period of last year. Meanwhile, over 60 brands saw their sales top one billion yuan (about 137.2 million US dollars) on JD.com during the online shopping festival.
The e-commerce festival also witnessed the further rise of livestreaming as a channel to promote products and grab discounts. JD.com's procurement and sales staff have drawn wide attention this year by turning into livestreamers, attracting over 380 million visits by the end of November 11, according to the company.