China's Ministry of Commerce has launched its online shopping festival ahead of the Chinese New Year. The special shopping festival runs until the first week February. Last year's event posted sales of over 165 billion dollars. Chen Yuan talks to an e-commerce expert to find out this year's most in-demand items.
Whether you want brand-new clothes for yourself or delicious treats for the family, shopping remains integral to Chinese New Year celebrations. As people across China prepare for the festivities, one expert says the tradition is being remade by online shopping.
LAO GUOLING Director, E-Commerce Research Center Shanghai University of Finance and Economics "Apart from food, there's a heavy focus on tradition and culture this year."
The upcoming Spring Festival is the first since UNESCO included it on its Intangible Cultural Heritage list. On Chinese e-commerce platform Taobao, searches for distinct Chinese products have seen a surge in popularity as the festival nears.
And, Lao says young people are becoming major trendsetters.
LAO GUOLING Director, E-Commerce Research Center Shanghai University of Finance and Economics "The younger generation emphasizes emotional value, opting for new interpretations of traditions. For example, young people might buy festive toys, such as a LEGO kumquat tree, instead of an actual one."
Electrical products are also trending. A survey by e-commerce giant JD's research institute says food and beverages remain the top choices for out-of-town workers to take home, but nearly half opt for appliances like TVs and washing machines.
Lao says government subsidies are playing a key role in boosting consumption in the sector.
LAO GUOLING Director, E-Commerce Research Center Shanghai University of Finance and Economics "This year's subsidized items include smartphones, tablets, and smartwatches. This can encourage people to upgrade their own devices, or buy these smaller products as gifts."
CHEN YUAN Beijing "During last year's shopping festival, nationwide online retail sales reached approximately 1.2 trillion yuan, or around 165 billion USD. With many regions and e-commerce platforms hosting promotional events across the country, the upcoming Spring Festival is set to fuel a drive in consumer spending. Chen Yuan, CGTN, Beijing."