GO
| HSI1 | 23,446.34 | +110.06 | 257.13B |
| HSCEI1 | 7,773.67 | +14.31 | 71.88B |
| Back Zoom + Zoom - Block Traded | |
|
2026-06-22 10:34:28 The 618 shopping festival in 2026 concluded on a muted note, reflecting a persistently soft macro environment and cautious, selective consumer spending, Citi report said. As BABA-W (09988.HK) hugely pared back investment in Quick Commerce this year, the entire industry lacked aggressive subsidy competition, further dampening the 618 campaign. Alibaba shifted toward brand advertising and endorsement strategies, while JD-SW (09618.HK) achieved a record high in transacting users, bolstered by growth in its services business. The Big Data Laboratory of Fudan University estimated that total online GMV across all platforms during the 2026 618 period rose only 3.2% YoY. Citi said it is awaiting Syntun’s forecast data release, but overall, the 2026 618 festival is likely to be the most low-profile and subdued in the past 16 years, against a weak macro backdrop and cautious consumer spending. As major e-commerce platforms did not disclose actual GMV or growth data for the 618 period, the Fudan lab estimated market shares as follows: Taobao and Tmall Group (TTG) accounted for 34%, and JD.com for 25%, together representing about 60% of total GMV; Douyin contributed 20%, while PDD Holdings Inc. (PDD.US) accounted for 7%. ~ AASTOCKS Financial News Website: www.aastocks.com | |