China's June 2012 Group Buy Transaction Value Down 23% PoP
DoNews, 7/09/12
China's group buy transaction value fell to RMB 2.08 bln in June 2012, down 23% compared to the May figure, according to group buy directory site Letyo.com. From January to May this year, monthly transaction volume ranged between RMB 2.3 bln to RMB 2.7 bln.
The industry reached new lows in both transaction value and transaction volume in June 2012, with transaction volume falling below 40 mln orders for the first time in 12 months, down 26% PoP to reach 38.38 mln.
Juhuasuan, the group buy site of Hangzhou-based C2C & B2C e-commerce site Taobao, maintained its first place ranking, recording 17.4 mln orders with an average order value of RMB 56, and monthly transaction value of RMB 970 mln, far more than the RMB 160 mln averaged by Tencent's (0700.HK) group buy directory site QQ Tuan (tuan.qq.com), which ranked a distant second.
Group buy transaction value for the Shanghai area dropped from RMB 140 mln in May to RMB 70 mln in June, the largest drop on record for the region and marking the first time in 12 months that Shanghai group buy transaction value fell below RMB 100 mln.
Beijing group buy transaction value managed to remain over RMB 100 mln, but still fell 35% PoP from RMB 170 mln to RMB 110 mln.
Keywords: national statistics growth rate Taobao Internet Tencent Juhuasuan 0700.HK transaction volume Letyo group buying QQ Tuan
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