EUROEAT

NEWS

618 – One of the four S-level shopping events of the calendar year is almost here!

The unique feature of China’s e-commerce market is that the annual sales are heavily concentrated around four S-level events: Chinese New Year, 618, 11.11. and 12.12.

The name 618 comes from the fact that this event was originally organized on June 18, although now it is roughly a month long shopping bonanza.

As an example, T-Mall has organized the shopping carnival around three waves: Wave 1 takes place June 1-3, Wave 2 is for category (toys, kitchenware etc) specific campaigns, takes place June 4-13 and Wave 3 takes place June 18-20.

618 is critically important for Euroeat’s performance: as one of the four main sales events, major bulk of annual revenue is generated around these events. How well we perform for the full year is to large extent determined during these four shopping carnivals.

These S-level events are also a test to our machinery: as the sales volumes are very high compared to normal months, we need to have proper selection of goods readily available in our warehouses around the country. This also stretches our financing needs as we must be able to fund the sudden increase in sourcing.

Our logistics needs to be in top form. As the event stretches over several weeks, it is mission critical to get happy customers early in the month so that they recommend our goods publicly. And invite more consumers buy Moomin products during Waves 2 & 3.

And it goes without saying that our planning for the month must be flawless, there is no room for mistakes. Having the right products with the right prices available for consumers for the whole month takes time & requires attention to the tiniest of details. Therefore the planning for 618 started already in early April.

So, let the 618 shopping festival begin! Results you will see in connection to our 2Q business review later in July.

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