The June 18 Shopping Festival — once a high-decibel race for Gross Merchandise Volume — took a markedly different tone this year, reflecting deep shifts in China’s fashion retail landscape. Underneath the transactional data, three key themes emerged: a pivot to quality-driven growth, the rapid rise of on-demand retail, and the emotional economy’s increasing grip on consumer behavior.
The numbers were strong — but more nuanced. Tmall reported 453 brands surpassing 100 million renminbi, or about $14 million, in transaction volume, a 24 percent year-over-year increase. JD.com doubled its user order volume from 2024, led by surging sales in apparel, beauty and daily essentials. Douyin’s e-commerce arm saw more than 60,000 brands double their GMV, with 236 surpassing the 100 million renminbi mark via livestreaming.
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Even platforms traditionally outside the commerce core saw major growth: Rednote’s livestream orders rose 9.4 times year-over-year, and Bilibili, capitalizing on its Gen Z community, posted a 146 percent increase in live-commerce GMV. WeChat Channels made a splash with a debut livestream starring Christy Chung, racking up over 10 million views and more than 7 million renminbi, or about $1 million, in sales.
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The Rednote + Tmall sales hints were centered around the “trust” economy.
Beneath the headlines, the landscape is changing. This year’s 618 was no longer just about deals and delivery — it became a mirror for a broader redefinition of value and experience in the consumer mindset.
Here, a look at some of the key trends emerging from the latest 618 Festival.,
1. State-Led Consumption Upgrades Point to Quality-First Growth
State-backed incentives played a decisive role in 618’s success, shifting the focus from volume to value. Strategic subsidies, especially in categories like smart home and green tech, enabled consumers to trade up. High-ticket items such as AI-powered robotic vacuum cleaners saw renewed interest, with government-backed discounts helping bridge the price gap for quality consumption.
This alignment of government policy, consumer demand, and platform strategy created a new model for “tripartite synergy,” accelerating premiumization across categories.
2. On-Demand Retail Becomes a Growth Catalyst
Real-time retail proved to be one of the strongest growth stories of the year. Apple saw record daily sales on Taobao Instant Retail, and brands like Decathlon leveraged Meituan’s infrastructure to deliver running gear within 30 minutes — resulting in a 220 percent spike in same-day orders.
Fashion labels such as Only and Jack & Jones embraced the “online order + store direct delivery” model, slashing turnaround times to under 72 hours. Meanwhile, companies like PurCotton upgraded their logistics networks to meet localized, rapid fulfillment — achieving a 90 percent success rate within an 8-kilometer radius.
Beyond convenience, on-demand retail is redefining fashion’s supply chain — ushering in a new era of fragmented, hyperresponsive consumption.
3. The Emotional Economy Reshapes Fashion’s Value Proposition
If quality and speed are two legs of the new retail triangle, emotion is the third. The emotional economy powered breakout moments during 618 — from reed diffuser brand ToSummer topping its category with sensory-driven branding, to Atour Hotel’s sleep-enhancing product line nearing core business revenue.
In beauty, Proya crossed the 100 million renminbi sales threshold within 10 minutes of launch. Its antiaging portfolio, aligned with prevailing consumer anxieties and aspirations, positioned it as a top performer once again.
Chinese consumers are increasingly seeking emotional resonance over logos — valuing lifestyle alignment, storytelling and psychological uplift. This shift was reflected in brand preference data: 70 percent of JD.com’s top 100 brands were domestic, while more than 60 percent of Tmall’s 100 million renminbi club comprised Chinese names.
4. A Glimpse Into the Next Chapter
The 618 Festival revealed more than just short-term sales surges — it signaled the emergence of new rules shaping China’s retail future. State stimulus, on-demand infrastructure, affective consumption, and homegrown innovation are reshaping consumer expectations and fashion’s business logic.
For global and local players alike, the message is clear: competing in China now means playing by a different rulebook — one that values connection over conversion, responsiveness over repetition, and trust over transaction.
Editor’s Note: China Insight is a monthly column from WWD’s sister publication WWD China on trends in that all-important market.