HONG KONG (AP) — JD.com’s annual “618” online shopping extravaganza racked up a total of 269.2 billion yuan ($38 billion) worth of transactions, as consumers splurged during China’s first major e-commerce sale since the pandemic began.
This year’s tally was 33% higher than last year’s 201.5 billion yuan in sales. It reflects an increasing shift to online shopping as consumers shun brick-and-mortar stores.
The “618” shopping event, which typically spans from June 1 to June 18, was first conceived by JD.com to rival Alibaba’s November 11 Singles’ Day festival. It is being closely watched as a barometer of consumer appetites for spending given pressures from the pandemic. China’s economy contracted for the first time in nearly three decades during the first quarter of this year.
Imported goods remained popular among JD.com customers, who snapped up luxury products, electric shavers and coffee machines. Some of the most popular brands among customers