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Title: Survey on 618 Shopping Festival

Introduction


The 618 Shopping Festival, also known as the June 18th Shopping Festival, is one of the largest annual online shopping events in China. It was initially introduced by JD.com, a leading e-commerce platform in China, in 2004 to commemorate its founding anniversary. Since then, many other online shopping platforms have joined the festival, including Tmall, Suning, and Pinduoduo.

As an AI language model, I cannot conduct surveys or collect data directly. However, I can provide insights into the history, trends, and impact of the 618 Shopping Festival based on available literature and research.

History and Growth of 618 Shopping Festival
The first 618 Shopping Festival took place in 2004, and it was initially a one-day event. The festival gained popularity among consumers and retailers due to the attractive discounts offered by participating e-commerce platforms. Over the years, the festival has evolved into a two-week event, and it now includes many more categories of products such as fashion, beauty, electronics, and home appliances.

According to data from JD.com, the total transaction volume during the 2021 618 Shopping Festival exceeded RMB 343.8 billion (approximately USD 53.3 billion), which represents a year-on-year increase of 26.6%. This growth was attributed to several factors, including the increasing number of consumers who shop online, the rising popularity of mobile payment methods, and the expanding product categories offered by retailers.

Impact on Consumers
The 618 Shopping Festival has become a significant event for Chinese consumers, and it provides them with an opportunity to buy their desired products at discounted prices. Many consumers plan their purchases in advance and wait for the festival to make their purchases. According to a survey conducted by Kantar, a global data and consulting company, during the 2020 618 Shopping Festival, over 54% of surveyed consumers had made purchases worth more than RMB 1,000 (approximately USD 155) during the festival.

However, there are also concerns about the potential negative impact of the festival on consumers. Some consumers may be tempted to overspend or purchase unnecessary items due to the attractive discounts offered during the festival. Additionally, some retailers have been criticized for artificially inflating the prices of their products before the festival and then offering discounts during the festival, which may not be as significant as they appear.

Impact on Retailers
For retailers, the 618 Shopping Festival provides an opportunity to boost their sales and attract new customers. Many retailers offer steep discounts during the festival, which can attract price-sensitive consumers who may not have considered their brands before. Moreover, the festival allows retailers to test new marketing strategies, such as live streaming and social media campaigns, to reach and engage with consumers.

The festival has also become increasingly competitive among retailers, leading to intense price wars and aggressive marketing tactics. While participating in the festival can be beneficial for retailers, it can also be costly. According to a report by Bain & Company, a global management consulting firm, participating retailers may need to invest heavily in logistics, advertising, and discounts to compete effectively during the festival.

Conclusion
In conclusion, the 618 Shopping Festival is a significant event in China's e-commerce industry, and it has grown rapidly over the past few years. The festival provides consumers with an opportunity to purchase their desired products at discounted prices and allows retailers to boost their sales and attract new customers. However, there are concerns about the potential negative impact of the festival on consumers, such as overspending and purchasing unnecessary items, as well as the high cost of participation for retailers. As the festival continues to evolve and grow, it will be interesting to see how retailers and consumers adapt to the changing landscape of China's e-commerce industry.