Chinese eCommerce giant JD.com pulled in $24.6B during their annual 618 Shopping Festival, held this year June 2 to the 18th. That number set a new record for the festival, with a whopping 37% increase over last years festival.
The top-selling categories this year was mobile phones, PCs, air conditioners, digital products and food & beverages.
Mobile phones were the hot category. The site moved 10,000 units in eight seconds on June 18, and 100 million yuan in 30 seconds.
JD.com partners with over 500,000 brick-and-mortar retail stores to implement its “boundaryless retail” initiative. The sales of brick-and-mortar stores experienced a huge leap in sales growth on June 18, with JD Daojia—an online-to-offline service JD.com offers to bring groceries and fresh food to consumers. Walmart participated in the shopping festival again this year and saw its sales grow fourfold.
Logistics played a big part in the success of the festival. During the festival, JD put into action 27 unmanned warehouses, increasing daily order volume 1,415% over the previous year. For deliveries, the JD.com-operated stores delivered 90% of orders within one or two days during the 618 festival period
Loans made by JD Finance—the financial technology arm of JD.com—to business partners and users increased by 348% year over year. Active users of JD Baitiao—one of JD Finance’s products that provides credit to consumers so they can pay by installment—increased by 167% year over year.
Alibaba’s Tmall unit also participated in the festival. During the 18-day sale period, they sold over 200 million units of beauty facial sheet masks, 140 million pairs of sunglasses and sale of sunscreen doubled. Over 20 million men’s T-shirts were sold, sales of women’s jeans increased by 70% and sales of luxury brand jewelry including Chow Seng Seng, Luk Fook and Pandora increased by 300% year over year. In just the first 60 seconds of June 18, Yoseido, a Chinese beauty company, sold over 100,000 units of beauty facial sheet masks.