According to China’s Ministry of Commerce, the total sales volumes of this year’s Singles Day sales are over 300 million yuan, up by 27% from a year ago.
This year’s online sales during Singles Day saw the following several features: the internationalization is further improved. The e-commerce sales were over 30 million yuan during the ten days before Nov.11, with the top import source countries including Japan, America, South Korea, Australia, Germany. Over 2 million overseas consumers spent over 3 billion yuan on China’s e-commerce platforms.
Another feature is that the consumption is growing among young consumers and the dwellers of third and fourth cities. Over 70% of the consumers online are those who are born in the 1980s and 1990s.
Also the sales saw the trend that consumers tend to buy well-known brands, including domestic brands.
The vendors over social media also provide the new growth engine of the online e-commerce market. (Source: Xinhua)