Insight Report 9 minutes PremiumCoronavirus Insights: China Launches New “55 Shopping Festival” To Give Retail a Post-Lockdown Boost Coresight Research May 21, 2020 What's InsideTo stimulate the economy and encourage consumers to release pent-up demand post Covid-19, the Shanghai Municipal People’s Government co-launched a new, large-scale shopping holiday with the retail industry at the beginning of May 2020. We discuss the potential of the 55 (Double Five) Shopping Festival to drive discretionary spending in Shanghai throughout May and June, exploring the following: The scale and impact of the two-month-long Double Five shopping season—including early success for Shanghai merchants from the launch of the festival on May 4–5 The omnichannel approach—including the participation of e-commerce platforms such as Alibaba’s Tmall and Pinduoduo in generating traffic to brick-and-mortar retail The focus on “shopping and tourism”—how Double Five is driving purchasing behavior in the tourism sector Click here to view Coresight Research’s ongoing coverage of the coronavirus outbreak. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Chinese New Year 2023 Review: Early Signs of Consumption Recovery AppearNovember 2023 US Retail Sales: Electronics and Appliance Stores See Sales Growth AccelerateWalmart Thrives as Financial Health Steadies: US Consumer Tracker 2023, Week 33Generative AI Latest: Amazon’s Initiatives, the Home Sector’s Entry and the Launch of Hypermodal AI