Has China’s ‘618’ shopping festival lost its shine as consumers turn cautious?
The shopping bonanza used to see mountains of packages pile up on street corners, but orders have dwindled amid China’s economic slowdown
For the past few days, Tan Zhaohui has seen a familiar sight every time she has returned to her home in the southwestern Chinese city of Chengdu: a mound of packages spilling out of the nearby delivery station.
The huge piles of e-commerce parcels have almost become an annual tradition in China over the past few years – a sign that the popular “618” shopping festival is approaching once again.
But this year, the piles are noticeably less towering than usual, a reflection of the subdued mood that has gripped China’s consumers in recent months.
“The delivery person told me that there weren’t as many packages as before,” the 58-year-old said. “I guess people are getting more cautious as the economic environment is not as good as before.”
The “618” festival is so popular that it has come to be viewed as a barometer of sorts for China’s retail sector, with analysts scrutinising the platforms’ turnover figures and consumption trends.
This year, the biggest takeaway seems to be a general lack of enthusiasm among consumers, despite weeks of non-stop promotional campaigns by the platforms and the government offering subsidies for a wide range of goods.