china-shopping

Are Chinese consumers really indulging in ‘revenge consumption’ – a phrase coined by Chinese social media users to describe an anticipated flood of post-lockdown purchases – in the post-COVID era?
An analysis of data generated by JD.com’s 618 Grand Promotion – the biggest mid-year shopping festival in China – is a good way to find out. Transaction volumes on JD.com on the first day of this event, which kicked off on 1 June, showed an increase of 74% year-on-year, demonstrating a strong recovery of consumer confidence.

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