Citigroup analysts say JD.com 's sales increased by 6% 8% during the June 18 period, higher than previously expected.

CTOnews.com, June 19, according to Reuters, the latest client report released by Citigroup analysts shows that JD.com 's sales increased by 6%, 8% from late May to yesterday's 618 Shopping Festival, which exceeded Citigroup's previous growth forecast of 2%. 5%. However, due to a larger base, total merchandise sales (GMV) of JD.com 618 this year is still down from last year's 10.3 per cent increase, and 27.7 per cent in 2021.

The festival, named after JD.com 's founding date, is now popular with all domestic e-commerce platforms and has become an important barometer of Chinese consumer spending. JD.com had previously announced that he would not release this year's 618 GMV data, but stressed that sales had reached an all-time high, while Alibaba had earlier stopped publishing double 11 GMV data.

In addition, Goldman Sachs analysts also said in a client report that JD.com 's sales during the June 18 period were "slightly" higher than expected, while Jeffery analysts also said the event was "higher than expected and set a new record". However, neither provided specific numerical estimates.

CTOnews.com previously reported that JD.com was the first to release the 618 Battle report in the early hours of this morning, which claimed: "as of June 18, 2359JD 618 growth rate in 2023 JD 618 exceeded expectations, and another innovative record, a large number of brand merchants have achieved eye-catching growth in this JD.com 618."