Shenzhen Flexes it's Consumer Purchasing Power on 11/11

THE Double Eleven shopping festival has once again ignited consumers’ shopping enthusiasm, revealing the robust potential and vitality of the Chinese consumer market.

According to relevant data, Guangdong has ranked first in both purchasing power and the number of shoppers nationwide, with Shenzhen standing out as the city with the strongest purchasing power in the province, Shenzhen Special Zone Daily reported.

As of 11:59 p.m. Saturday, JD.com, one of China’s largest e-commerce platforms, recorded unprecedented transaction volumes, order numbers, and user counts. Over 60 brands each surpassed 1 billion yuan (US$137 million) in sales, and the transaction volume for nearly 20,000 brands has tripled year on year. New merchants on JD.com experienced a fivefold increase in transaction volume month on month.

According to JD.com data, Guangdong leads the nation in both purchasing power and the number of shoppers. Shenzhen has become the city with the strongest consumer power in Guangdong, while Dongguan witnessed the highest year-on-year increase in purchasing power.

Gaming tablets, air conditioners, mobile phones, tablets, and refrigerators have become the top five categories of per capita consumption in Guangdong, while switch sockets, skincare products, manual tools, milk, and household hardware are the top five categories of per capita shopping items, statistics showed.

In terms of transaction growth rate, gold earrings, flooring sealants, gold rings, washers and dryers, and gold bracelets are among the top five categories in the province, experiencing growth rates of 317%, 314%, 213%, 111%, and 108%, respectively.

As the Alibaba-backed Tmall’s shopping festival concluded at 11:59 p.m. Saturday, there was a significant increase in user and merchant numbers, driving substantial growth in orders and total transaction volume.

Dai Shan, CEO of Taotian Group, stated that this year, the number of Tmall’s Double Eleven users has reached a historical peak, with a cumulative number of visitors exceeding 800 million.

Dai also said that users in third-tier and below markets performed particularly well, placing 140 million more orders than last year, reflecting the appeal of the low-price strategy and consumers’ demand for high-quality and reasonably priced products.

Tmall data revealed that, as of 11:59 p.m. Saturday, 402 brands each achieved transactions exceeding 100 million yuan, with 243 of them being domestic brands. Furthermore, 38,000 brands experienced transactions increasing by over 100% year on year.

SOURCE: Shenzhen Daily