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Coronavirus Insights: China Launches New “55 Shopping Festival” To Give Retail a Post-Lockdown Boost

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Coresight Research

What's Inside

To 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.

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