Douyin's CNY Shopping Festival Brings In 20.8bn RMB | Dao Insights

Douyin’s Chinese New Year shopping festival brings in 20.8bn RMB

Douyin announced that its first online Chinese New Year shopping festival generated 20.8 billion RMB between January 4 and 20.

Among the most popular items were clothing, jewellery, and cosmetics, as well as traditional handicrafts, such as Hanfu clothing, embroidery and handmade leather sculptures. There was a substantial demand for easy-to-cook products and snail soup noodles (luosifen 螺蛳粉) were the best-selling snack on the platform. Local delicacies, such as hot dry noodles from Wuhan, Taiwan’s Chinese scallion pancakes, mixed noodles from Jiangxi province and sticky rice cakes also saw strong sales.

During the festival, 14.3 billion livestreams were viewed and 320 million viewers engaged with videos with over 1.9 billion interactive comments.

Many e-commerce platforms, encouraged by the government, have been launching online Chinese New Year shopping festivals to promote online consumption in the run-up to the event as COVID-19 cases grow.

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