6.18 Online Festival in China: Smartphone Sales Down 2% Annually
Discover key insights from China's 6.18 Online Festival 2024, highlighting smartphone market trends, including sales dynamics, vendor performance, and shifts in consumer behavior towards foldable devices and livestream shopping platforms.
The 2024 6.18 Online Festival in China revealed a nuanced picture of smartphone sales. Despite a 2% decline in unit sales, stable market value was maintained thanks to higher average selling prices amid a broader 3% drop in overall online sales.
Major shopping events like 6.18 and 11.11 faced challenges from slowing online shopping growth and intensified promotions by livestream influencers. E-retailers responded with streamlined processes and extended sales periods to re-engage consumers.
Apple, Xiaomi, and Honor dominated sales with innovative models like Apple's iPhone 15 series and Xiaomi's Redmi K70. The festival also saw rising interest in foldable smartphones from brands like Honor and Vivo, alongside continued growth of livestream shopping platforms amidst increasing scrutiny.
Traditional e-retailers like Pinduoduo expanded their influence by diversifying product offerings and attracting a younger demographic, reflecting ongoing shifts in consumer behavior and market dynamics in China's online shopping landscape.
