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The Increasing Return of China’s E-commerce Market – BeautyMatter

The Increasing Return of China’s E-commerce Market – BeautyMatter

The state of the Chinese economy has fluctuated in the past few years due to the pandemic. Lockdown restrictions impacted sales both in person and online. In 2022, it was estimated that over 700 beauty brand doors were closed temporarily in China’s shopping districts, from Maybelline to Innisfree. While this resulted from consumers being unable to shop in person, online sales were also impacted as shipping companies were restricted in their travel, prolonging the turnaround time of deliveries, which led to many cutting down on their shopping habits. According to Alibaba, the uncertainty of restrictions and changes encouraged consumers to take a step back from overconsumption and focus on what they already owned.This was reflected in 2022’s month-long 618 e-commerce shopping festival, which only saw a 10.3% rise in sales from 2021, a significant decrease from the 27.7% sales growth from 2020 to 2021. The 6.18 festival was created by JD.com and takes place each year. The festival was named 6.18 to celebrate the day the shopping site was founded by Liu Qiangdong on June 18,1998. During the shopping festival, which usually rakes in impressive revenue, sought-after goods become discounted for a limited time. During last year’s 6.18 shopping festival, skincare… 

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