Latest news with #Syntun
Yahoo
9 hours ago
- Business
- Yahoo
2025 "618" Promotion Report: GMV Reaches 855.6 billion RMB
BEIJING, June 19, 2025 /PRNewswire/ -- The 2025 "618" mid-year shopping festival commenced on May 13th, featuring a significantly extended promotion period compared to previous years, designed to boost demand and bolster consumption recovery. Major e-commerce platforms offered substantial discounts, augmented by government subsidies across a wide range of product categories. Promotional strategies were streamlined, prioritizing direct price cuts to enhance consumer purchasing incentives and shopping experience. The deep integration of government subsidies has further amplified China's sustained consumer vitality. Local governments intensified subsidy policies, expanding coverage to diverse product categories to meet evolving consumer needs, thereby supporting market upgrading while maintaining robust demand. Amid evolving consumer preferences, the e-commerce industry has entered a new phase of ecological restructuring and sustainable market development. Traditional e-commerce giants like Alibaba and have deepened collaborations with social media & e-commerce platforms such as Xiaohongshu and Bilibili, leveraging content-driven engagement to drive transaction conversions and reshape overall marketing strategies. Concurrently, China's instant retail market continues to exhibit explosive growth, fueling competition among traditional e-commerce players to expand into omnichannel ecosystems and redefine the retail landscape. As a third-party data monitor, Syntun has consistently tracked and released "618" sales data to provide an impartial and objective perspective to the public. According to Syntun, the Gross Merchandise Volume (GMV) during the "618" shopping festival (May 13th–June 18th) reached 855.6 billion RMB across major e-commerce platforms, including traditional and content e-commerce platforms, with Tmall ranking first. Meanwhile, instant retail platforms and community group-buying platforms contributed GMVs of 29.6 billion RMB and 12.6 billion RMB respectively. For more details about the "618", please click the link: (Syntun_2025_618_Sales_Data_Briefing) As a professional digital retail data service provider, Syntun has developed a variety of products in line with the needs of the retail industry, which can solve the problems encountered in the process of production, operation, marketing and management, and help brands make accurate decisions. CONTACT:FB: Syntun ChinaTW: @Syntunchina Syntun Marketing TeamTel: +86-10-5287-4212Email: info@ Related Links: View original content to download multimedia: SOURCE Syntun Ltd. 登入存取你的投資組合
Associated Press
10 hours ago
- Business
- Associated Press
2025 "618" Promotion Report: GMV Reaches 855.6 billion RMB
BEIJING, June 19, 2025 /PRNewswire/ -- The 2025 '618" mid-year shopping festival commenced on May 13th, featuring a significantly extended promotion period compared to previous years, designed to boost demand and bolster consumption recovery. Major e-commerce platforms offered substantial discounts, augmented by government subsidies across a wide range of product categories. Promotional strategies were streamlined, prioritizing direct price cuts to enhance consumer purchasing incentives and shopping experience. The deep integration of government subsidies has further amplified China's sustained consumer vitality. Local governments intensified subsidy policies, expanding coverage to diverse product categories to meet evolving consumer needs, thereby supporting market upgrading while maintaining robust demand. Amid evolving consumer preferences, the e-commerce industry has entered a new phase of ecological restructuring and sustainable market development. Traditional e-commerce giants like Alibaba and have deepened collaborations with social media & e-commerce platforms such as Xiaohongshu and Bilibili, leveraging content-driven engagement to drive transaction conversions and reshape overall marketing strategies. Concurrently, China's instant retail market continues to exhibit explosive growth, fueling competition among traditional e-commerce players to expand into omnichannel ecosystems and redefine the retail landscape. As a third-party data monitor, Syntun has consistently tracked and released '618" sales data to provide an impartial and objective perspective to the public. According to Syntun, the Gross Merchandise Volume (GMV) during the '618" shopping festival (May 13th–June 18th) reached 855.6 billion RMB across major e-commerce platforms, including traditional and content e-commerce platforms, with Tmall ranking first. Meanwhile, instant retail platforms and community group-buying platforms contributed GMVs of 29.6 billion RMB and 12.6 billion RMB respectively. For more details about the '618", please click the link: ( Syntun_2025_618_Sales_Data_Briefing ) As a professional digital retail data service provider, Syntun has developed a variety of products in line with the needs of the retail industry, which can solve the problems encountered in the process of production, operation, marketing and management, and help brands make accurate decisions. CONTACT: FB: Syntun China TW: @Syntunchina Syntun Marketing Team Tel: +86-10-5287-4212 Email: [email protected] Related Links: View original content to download multimedia: SOURCE Syntun Ltd.
Business Times
15 hours ago
- Business
- Business Times
China's 618 shopping fest sets record, but daily spending slips
[BEIJING] China's largest mid-year shopping festival, 618, ended on Wednesday (Jun 19) with record sales, though daily spending dropped amid an extended sales period aimed at enticing consumers to part with more of their hard-earned money. The longer sales period helped the combined gross merchandise value (GMV), a business metric commonly used in e-commerce, reach an all-time high of 855.6 billion yuan (S$153.3 billion), according to retail data provider Syntun. That was 15.2 per cent higher than the prior year's 742.8 billion yuan. The festival, originally a single-day event celebrating founding on Jun 18, has evolved into a month-long affair spanning all major e-commerce platforms. This year's pre-sales began on May 13, a week longer than in 2024, leading to lower average daily spending of 2.31 billion yuan, compared with 2.48 billion yuan last year, according to Reuters calculations. Alibaba Group's Tmall kept its top position on sales, the data showed, followed by ByteDance's Douyin and Pinduoduo Holdings' Pinduoduo. Syntun did not provide sales figures for each platform. Despite the upbeat figures, the world's second-largest economy's retail sector continues to struggle due to concerns over employment stability, stalled wage growth and the ongoing property crisis. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Retailers and the government have sought to lift subdued spending by deepening discounts and expanding consumer subsidies but analysts say longer festivals and year-round discounts have dampened excitement for these kinds of events. 'I don't have anything special to buy during the 618 shopping festival. Because there are always great deals, I can buy whatever I need whenever,' said Xu Binqi, who works in Beijing's film industry. 'Take skincare products as an example, I buy them whenever I run out, and the prices are no higher than during the 618 festival.' Rachel Lee, general manager of market research firm Worldpanel China and co-author of Bain .'s recent China Shopper Report, said that when consumers are budget-conscious, they seek affordable alternatives, and discounts play a lesser role. 'Standalone promotional discounts will find it increasingly difficult to drive volume growth,' she said. This year, said the number of users placing orders for the 618 event more than doubled year on year, with over 2.2 billion orders across its online, offline and food delivery platforms. Alibaba said that 453 brands surpassed 100 million yuan in GMV over the 618 period. Brands that surpassed one billion yuan in GMV included Apple, Xiaomi, Huawei, Nike, Adidas, L'Oréal and Lululemon, Alibaba added. Retail growth, subsidy impact While the retail environment in China remains difficult, there are signs that consumption overall has picked up in recent months. Retail sales growth surpassed expectations in May, with official data showing a 6.4 per cent increase, the fastest growth since December 2023. Analysts pointed to the earlier start of 618, along with government consumer subsidies for goods such as home appliances and mobile phones, as twin drivers. Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, said the extended 618 festival front-loaded consumer demand, encouraging earlier spending and smoothing consumption trends into May. 'A longer 618 festival with low prices helps sustain engagement across weeks and has contributed materially to May's strong retail performance,' Cooke said. Analysts warn that a pause in subsidy programmes in several regions, as central government allocations dry up, could weigh on 618 sales and overall consumption this month, though more funds are likely to be allocated for those programmes in July. 'Rapid sales growth of key subsidy categories (such as home appliances) driven by the 618 shopping festival starting from quickly depleted funds,' HSBC analysts wrote in a note. Eve Wang, 32, reflected on the shift in spending habits: 'In the past, for example during events like Singles' Day and 618, I used to spend a lot of money on stockpiling goods, but now ... I only buy what I need.' REUTERS
Economic Times
15 hours ago
- Business
- Economic Times
Daily spending dips, but China's 618 shopping fest sets record with all-time high sales
Reuters A advertisement for the "618" shopping festival displayed at a shopping mall in Beijing, China (File Photo) China's largest mid-year shopping festival, 618, ended on Wednesday with record sales, though daily spending dropped amid an extended sales period aimed at enticing consumers to part with more of their hard-earned money. The longer sales period helped the combined gross merchandise value (GMV), a business metric commonly used in e-commerce, reach an all-time high of 855.6 billion yuan ($119 billion), according to retail data provider Syntun. That was 15.2% higher than the prior year's 742.8 billion yuan. The festival, originally a single-day event celebrating founding on June 18, has evolved into a month-long affair spanning all major e-commerce platforms. This year's pre-sales began on May 13, a week longer than in 2024, leading to lower average daily spending of 2.31 billion yuan, compared with 2.48 billion yuan last year, according to Reuters calculations. Alibaba Group's Tmall kept its top position on sales, the data showed, followed by ByteDance's Douyin and Pinduoduo Holdings' Pinduoduo. Syntun did not provide sales figures for each platform. Despite the upbeat figures, the world's second-largest economy's retail sector continues to struggle due to concerns over employment stability, stalled wage growth and the ongoing property crisis. Retailers and the government have sought to lift subdued spending by deepening discounts and expanding consumer subsidies but analysts say longer festivals and year-round discounts have dampened excitement for these kinds of events. "I don't have anything special to buy during the 618 shopping festival. Because there are always great deals, I can buy whatever I need whenever," said Xu Binqi, who works in Beijing's film industry. "Take skincare products as an example, I buy them whenever I run out, and the prices are no higher than during the 618 festival." Rachel Lee, general manager of market research firm Worldpanel China and co-author of Bain & Co.'s recent China Shopper Report, said that when consumers are budget-conscious, they seek affordable alternatives, and discounts play a lesser role. "Standalone promotional discounts will find it increasingly difficult to drive volume growth," she said. This year, said the number of users placing orders for the 618 event more than doubled year-on-year, with over 2.2 billion orders across its online, offline and food delivery platforms. Alibaba said that 453 brands surpassed 100 million yuan in GMV over the 618 period. Brands that surpassed 1 billion yuan in GMV included Apple , Xiaomi, Huawei, Nike, Adidas, L'Oreal and Lululemon, Alibaba added. While the retail environment in China remains difficult, there are signs that consumption overall has picked up in recent months. Retail sales growth surpassed expectations in May, with official data showing a 6.4% increase, the fastest growth since December 2023. Analysts pointed to the earlier start of 618, along with government consumer subsidies for goods such as home appliances and mobile phones, as twin drivers. Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, said the extended 618 festival front-loaded consumer demand, encouraging earlier spending and smoothing consumption trends into May. "A longer 618 festival with low prices helps sustain engagement across weeks and has contributed materially to May's strong retail performance," Cooke said. Analysts warn that a pause in subsidy programmes in several regions, as central government allocations dry up, could weigh on 618 sales and overall consumption this month, though more funds are likely to be allocated for those programmes in July. "Rapid sales growth of key subsidy categories (such as home appliances) driven by the 618 shopping festival starting from quickly depleted funds," HSBC analysts wrote in a note. Eve Wang, 32, reflected on the shift in spending habits: "In the past, for example during events like Singles' Day and 618, I used to spend a lot of money on stockpiling goods, but now ... I only buy what I need." ($1 = 7.1910 Chinese yuan)
