US EditionIs this the end of the 618 Shopping Festival as we know it?
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Is this the end of the 618 Shopping Festival as we know it?
On 18 June, the longest 618 Shopping Festival ended. Thanks to the extended duration of the event, sales reached a record high. The gross merchandise value (GMV) this year across platforms was 855.6 billion RMB (119 million USD), up 15.2% year-on-year (YoY). However, pundits have pointed out that the daily transactions dropped to 23.1 billion RMB (3.19 billion USD) from 24.8 billion RMB (3.42 billion USD) in 2024. Thanks to the extended duration…
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