The Effects of China’s Double 11 Shopping Festival
- On November 13, 2020
- double 11 shopping festival
Double 11 has become an international event.
Entering its twelfth year, the “Double 11” shopping festival once again set off a global consumption boom. The “Double 11” shopping festival is one of the busiest online shopping days of the year, and its scale and scope continue to expand. From this shopping festival, people in the fashion industry and retail industry see the huge consumption potential in the future.
Kitchenware, decorations, bedding and other household items are more popular in this year’s “Double 11” shopping festival. This year, more than 350,000 brands and sellers joined the “Double 11” event, attracting 80 million consumers to buy.
Four of the world’s six largest e-commerce platforms are in China, “Chinese e-commerce has begun to expand overseas. In this field, Chinese companies are in a leading position.” Many European e-commerce companies have begun to “follow the trend” and hold “Double 11” events. Mediamarkt, one of Europe’s largest e-commerce companies, launched a “Singles Day” black November promotion. The Belgian Electronics website posted a large promotional poster on the homepage of the official website and explained the meaning of “Double 11”.
China’s epidemic prevention and control is very good, and it has taken the lead in realizing economic recovery, becoming an important force in promoting global economic recovery and growth. The huge potential of the Chinese market and the rapid recovery of the Chinese economy are undoubtedly good news for international companies that focus on exports.
In the post-epidemic era, consumers have changed their consumption patterns, bringing more opportunities for the growth of e-commerce. The Chinese market continues to grow and expand, and the increase in consumption power has created new demand for diversified and high-quality imported goods, which has brought huge development opportunities to other countries and regions.
As the first country in the world to control the epidemic, the huge consumption potential released by Chinese consumers during the’Double 11′ shows the huge size and vigor of the Chinese economy. China’s strong endogenous power will not only force China’s economic growth, but also provide new opportunities for businesses around the world and add new impetus to the recovery of the world economy.