First launched in 2010 by China’s e-commerce giant Jingdong, the 618 shopping event has developed into a major mid-year shopping event that has driven online consumer spending over the decade. However, consumers are becoming more cautious during a pandemic-hit economic downturn and growing tired of more frequent shopping events stimulation over the past decade.
The event was originally created as a competition for the Alibaba-backed Singles’ Day shopping event on November 11. And similar to Singles’ Day, the 618 shopping festival has grown out of its founding platform and become a promotional event across all major Chinese e-commerce platforms. The event is also considered a barometer (指标) for consumer spending capacity and new shopping trends in China.
For those who are taking a close look at the country’s second-largest shopping carnival, this year’s edition of 618 might seem like 2020’s all over again, yet if anything the situation is even more serious.
In both years, China was just coming out of lockdowns which had taken a toll on the country’s economy and led to negative consumer consumption concept. But the timing is different. In 2020, Covid-19 broke out in January and most pandemic-related lockdowns were removed in early April. By the time 618 arrived in June, the state had already stepped in to boost consumption by launching a series of digital subsidy programs over April and May. On top of that, the two-month gap allowed more time for manufacturing and logistics (物流) companies to recover from the lockdowns ahead of the shopping festival.
This year, however, there’s less time for the market—either consumer consumption concept, merchants (商人), or logistics companies—to react since the months-long lockdowns to control new Covid-19 outbreaks in cities like Beijing and Shanghai only ended on June 1, just as many retailers were preparing for the 618 shopping festival with pre-promotion and early deals. Moreover, recent trends make it obvious that Chinese consumers will be even more cautious in 2022 than they were near the start of the pandemic.
1. What was the reason for JD to establish the 618 shopping events?
A.To attract customers to shop in malls. |
B.To celebrate Jingdong’s establishment. |
C.To compete with Alibaba for customers. |
D.To create opportunities for single person. |
2. Why is the 618 shopping event seen as an assessment of spending power?
A.Because of its leadership in fashion. |
B.It is China’s second-largest shopping festival. |
C.Because of JD company’s popularity. |
D.It is organized by China’s largest online platform. |
3. What difficulty do the 618 shopping events in 2020 and 2022 both face?
A.The absent logistics assistance. |
B.The same tough timing for selling. |
C.The pandemic-hit economic decline. |
D.The sales restrictions set by government. |
4. Why may the 618 shopping event in 2022 be even worse?
A.Lockdowns just ended in early April. |
B.There is less time for the market to respond. |
C.Covid-19 outbreaks are more serious in cities. |
D.Chinese customers are more lacking in money |
5. What does the underline word “lockdowns”in the last paragraph mean?
A.measures to close cities | B.limited activities | C.locks to the door | D.downtowns |