China’s consumer market has become increasingly segmented in recent years, opening up new opportunities for businesses willing to think outside the box to meet consumers’ specific and fast-changing needs. At this year’s 6.18 Mid-Year Shopping Festival *(“6.18”), 755 new brands** achieved single-day sales of more than RMB1 million (US$156,400) on the event’s first day on June 1, reflecting the market’s incredible consumption power and room for new upstarts.
New brands that achieved stellar results during the festival span all product categories and sub-sectors. Among these is Miss Berry, one of the top sellers of low-proof beverages in China. Its fruit wines are especially loved by young consumers and has propelled the brand to the top 10 list in its sub-category during the first sales period of 6.18. Ubras, a lingerie brand known for its one-size wireless comfort underwear, has found similar success. On the first official day of the 6.18 sales period, Ubras exceeded RMB100 million in gross merchandise volume.
Fueled by young consumers’ love for unique products that speak to their lifestyles and personalities, 28 original designer brands saw more than RMB1 million in sales on June 1 alone. For example, Apede Mod, an up-and-coming handbag label, broke the RMB3 million sales record.
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* The presales period of the 2021 6.18 Mid-Year Shopping Festival kicked off at 8 p.m. on May 24 and lasted until May 31. The official sales period started on June 1 until June 20.
**New brands refer to those that have been on Tmall for less than three years.