Third Shuangpin Online Shopping Festival brings in $107 billion

The Shuangpin Online Shopping Festival ended on May 12 with more than 260 e-commerce companies participating in the 15-day online event. The festival drove 692.8 billion RMB ($107 billion) of online retail sales across China, a year-on-year increase of 26.7%.

The third Shuangpin Online Shopping Festival was jointly organised by the Ministry of Commerce, the Ministry of Industry and Information Technology, the General Administration of Market Supervision, the State Post Bureau, and the China Consumers Association. The festival aimed to boost sales and awareness of Chinese retailers and merchants as many continue to recover from the impact of COVID-19 and domestic brands accounted for 73.8% of sales.

More than twenty regions across the country held related activities, such as the Beijing consumption season and Shanghai’s Five Five Shopping Festival. Brands and platforms advertised their involvement in the initiative and some chose to introduce discounts and new collections. During the festival, 188,000 brands launched products, an increase of 46.8% year-on-year.

The name shuangpin was used to highlight the high-quality products and services on offer during the online shopping festival: shuāng 双 means double and pǐn 品 means brand and quality in Chinese.

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