This year's "Double 11" shopping festival, China's biggest annual shopping event, has seen growing enthusiasm for trade-in programs and experience-driven products, trends that have driven youth consumption and reached even the more rural areas of the country.
In the first years after its creation in 2009, Double 11 was a frenzied spree of online consumption on Nov 11 each year. Over time, the festival has extended, evolving from a one-day shopping extravaganza into a month-long event.
Thanks to China's ongoing trade-in program for home appliances, the market for these products remains strong in November.
"During this year's Double 11, over 90 percent of county and rural areas nationwide have seen consumers participating in trade-in programs. We offer a one-stop service where consumers can get new electronic devices in exchange for their old ones," said Luo Huyi, a director for digital products at JD.com, a major Chinese e-commerce platform.
For many young consumers, Double 11 has evolved beyond a simple shopping spree into an experience-driven event, providing them with an ideal opportunity to book appealing cultural and tourism services online in advance.
From historical site tours to skiing and camping, online orders for cultural travel have seen a great rise during this shopping event. Between Oct 14 and Nov 10, online transactions for tourism products grew more than eightfold compared to the same period last year. Notably, outbound travel bookings increased more than 11 times year on year, data from China’s leading online travel agency Ctrip showed.
During the shopping festival, toys that help with emotional well-being, like cute stuffed animals and creative building-block toys, have also become more popular among young consumers.
China's "Double 11" shopping festival sees trends in trade-ins, experience-driven consumption
China's "Double 11" shopping festival sees trends in trade-ins, experience-driven consumption
Canadian Prime Minister Mark Carney's official visit to China signals a policy shift towards building a more pragmatic relationship between the two countries, according to a Canadian researcher.
Carney arrived in Beijing on Wednesday to begin an official visit to China through Saturday, which marks the first trip by a Canadian Prime Minister to the country in eight years.
Robert Hanlon, director and principal investigator of Canada and the Asia Pacific Policy Project (CAPPP) at Thompson Rivers University in British Columbia, told the China Global Television Network (CGTN) that Carney's visit indicates Canada is recalibrating its strategic perception of China, which could cement the foundation for the country's economic diversification efforts and boost the development of bilateral cooperation.
"I think it's a clear message that he has moved Canada's strategy to a much more pragmatic, interest-based, -focused relationship with our trading partners, moving away from values-based narratives that we might have heard on previous governments. Canada has spoken about moving from what the Prime Minister's Office is calling "from reliance to resilience", and that means diversifying our economies and our trade everywhere in the world. And so China being our second largest trading partner, it makes perfect sense for our PM to head to Beijing," he said.
The scholar also noted the huge cooperation potential between the two sides in economic and trade fields, citing Canada's efforts to step up shipments of liquefied natural gas (LNG) and the planned construction of an oil pipeline in Alberta which aims to increase export access to Asian markets. "Canada and China both share tremendous economic opportunities together and so finding ways to enhance our exports. Canada specifically looking to build out its LNG and oil, kind of export market. We know Canada is a major producer of critical minerals and China is a buyer. And so there's a lot of synergy between that kind of those kind of markets," he said.
Canadian PM's visit to China paves way for more pragmatic trade ties: scholar
