The annual “618 purchase price festivals” went on. In the context of the ongoing increase in the downward pressure on our economy and the spread of the epidemic, “618” is more seen as an important point in stimulating consumption and reclaiming confidence.
The experts considered that this year’s “618” was exceptional and, in addition to the promotional features of previous years, it was more important to work with branded enterprises to break off in consumption, in order to become more cheaper promotional cost inputs, more stable supply chain services, more rapid financial settlements, and to ignite branding.
Boosting short-term consumer markets
The early and longer start-up is a major feature of “618” in recent years. On 23 May, at 8 p.m., Gwkw was fully launched in 2022, “618” and will continue until 20 June; on the same day, sophistication was officially launched as “618”; on 26 May, at 8 p.m., the cat “618” was opened.
The preferential rules are also simpler. The compression of “head veilings” in Gindong into a cross-shop, with consumers not going back to separate tickets, directly benefiting every 299 minus 50; the commuting of the trans-shop with a reduction of 300 to 50 per cent from last year’s “over 200 shop to 30” to date; the patching of more through platform red bags, hundreds of millions, 300 to 50, brands and one-size-fits-all benefits; and the production of “price plus bags” will be used only as a single user.
The annual “618” is an important window for demonstrating China’s consumer strength. Public data show that in 2021 the total value of “618” market-wide commodity transactions reached $57.85 billion, an increase of 26.5 per cent. Within four hours of the opening of the pre-sale sale at 8 p.m. on 23 May this year, the value of the advance sale of Gink occupier was three times that of last year. As at 12 p.m. on 24 May, the total pre-sold value of the Ginkong Power as a whole increased by 270 per cent over the same period last year.
Lee Lee, Chief Expert on Electronic Commerce at the China International Centre for Electronic Commerce, Department of Commerce, stated that activation of consumption should be a priority of current economic policies and a strong driving force for coping with economic downturns by boosting consumption. At the same time, consumer activity is an important expression of confidence in future economic development, which is now more important than gold. “618” is the most important central promotional activity in our first half of a year’s network retailing, especially when current social consumption increases into the bottom line, which is more affected by the control measures of the epidemic, this year’s “618” campaign should be the key to stimulating consumption and reclaiming confidence.
The researcher of the Institute of Finance and Strategic Studies of the Chinese Academy of Social Sciences, Lee Hao, is of the view that such a wide-ranging and cognitive promotional campaign is needed in order to stimulate consumer consumption and to demonstrate to the international market the country’s huge domestic demand market and the advantages of a strong domestic market. At the same time, it is also necessary to provide a market basis for the economic development of the entity through the “618” exercise of consumer confidence.
“618’ will activate short-term consumer markets in a centralized manner. The epidemic has affected more consumers who are willing to buy, the past patterns of consumption, such as isolation and extremely simple living, have changed, consumers are now more pragmatic, and demand for centralized procurement of essential goods is growing. 618’, on the other hand, provides an opportunity for consumers to achieve concentrated consumption at lower prices. Believes that this year `618’ will be more hot than in previous years.” Associate Director, Research Fellow and Forest, Center for Digital Economy and Financial Innovation Studies, Graduate Institute of International Co-Business.
The real economy of the entity
On 26 May, the mobile brand was really mymereal launch of “618”. Data from the Chinese Congregation show that during the first four months of this year, the total outflow of domestic market machines declined by 30.3 per cent. My Vice-President of the Realme, the Managing Director of the Chinese District, Mr. Xu, gave a voice to journalists from the daily economic newspapers, and the current pressure on the mobile phone industry was more challenging, and indeed Irealme would be moving down from 10 to 20 per cent of global market distribution targets this year. The “618” was the most important promotional point in the first half of the year, especially when lower economic pressures were high, when consumers were more sensitive to prices and more sensitive to promotional nodes, and it was expected that “618” would result in a peak of consumption. My realme will work together with mainstream power providers, such as Gingnor and cat, to give consumers more choice.
It is clear that “618” is long overdue not only as glasses on the line, but as a covarication on the line. As stated by the Managing Director of the digital commercial block in Aliba’s home, “in a situation of greater volatility and uncertainty in domestic consumer markets, it is the most important thing this year to help business build up and grow”.
The Chinese retailer CEO Sinli indicated that this year, Gwkw’s “618” will provide businessmen with a more healthy, open and orderly ecology that will provide opportunities for sustainable development for hundreds of thousands of businessmen. Focusing on small and medium-sized businesses, Ging will reduce the impact of the epidemic on small and medium-sized businesses through a series of reduction efficiency initiatives, helping them to increase their input output at least 20 per cent in Gingnor “618”.
It is understood that this year, eastern Gw, “618”, will bring together millions of underprivileged entity doors to achieve line-ups. At the same time, in many cities, such as Gindong, consume vouchers have been issued through the Gink City Consumer Promotion Platform, covering a large number of consumer scenes on the line and continuously stimulating consumption potential. In addition, instant retail operations in the east of the Virgin will also provide immediate retail experience in the same city for consumers in over 1,700 district municipalities, with over 150,000 sub-units of the country, such as Wal-Mart, Huan-hundred, apple-making store, wire and children’s princes.
More than 500 branded official flagship shops have introduced “brand shops” and special hardship initiatives and special support for industrial belts, agri-zone dealers who are severely affected by the epidemic, promoting high-quality linking to the national market, and helping to eat.
Singen is oriented towards the county town market, with over 11,000 retail cloud shops branding over 180,000 electric home brands providing users with solutions for consumption around “home spots”.
According to H.E. Mr. Lee, influenced by a combination of factors, the real economy of the current line is facing considerable challenges, with higher prices for raw materials and logistics.