Taobao's 618 Festival 88VIP Benefits and Updates

TapTechNews May 23rd news, the 618 shopping festival has begun, and the Taotian Group announced that this year is the first year that Taobao merchants support the 88VIP consumption voucher for the 618. As of May 21st, the daily average transaction amount of Taobao consumption voucher merchants has increased by 41% compared to the same period of last 618.

According to the introduction, this year's 618 Taobao and Tmall platforms have made large-scale investments and provided benefits for 88VIP users, such as the consumption voucher usage threshold being lowered from $225 to $180, and also providing the 'unlimited return with shipping cost covered' right and the ability to redeem a $30 cash voucher (for purchases over $450) and a $15 cash voucher (for purchases over $300) every day. At the same time, the scale of Taobao 88VIP users has reached 35 million, showing a double-digit year-on-year growth.

According to the data released by Taobao and Tmall, at 8 pm on May 20th, only 4 hours after the start of the 618 sale, 59 brands had sales exceeding $15.87 million, and 376 individual products had transactions exceeding $1.587 million. The GMV of Taobao's hundred-billion subsidy in the first hour of the sale had already increased by 596.5% compared to the same period of the start of the sale last year.

In addition, Taobao also launched the 88VIP shopping monthly card some time ago, which can receive a large 618 voucher. The Taobao App has also been updated, and the three major channels have been changed to two major channels of 'Taobao Live' and 'Hundred-Billion Subsidy', while reducing the area occupying the front page. TapTechNews noticed that Taobao also announced the upgrade of the web version Taobao.com this month, such as maintaining the login status for a longer time, showing the post-voucher price for the shopping cart for the first time, automatically claiming discounts for product details, and adding invoice management in 'My Taobao', etc...