Onion Global Surpasses RMB100 million in GMV for the first three days during the 2022 High Five Shopping Festival

Rhea-AI Summary

Onion Global Limited (NYSE: OG), a lifestyle brand platform, announced it generated over RMB100 million in Gross Merchandise Value (GMV) within the first three days of its 2022 High Five Shopping Festival. This event, running from May 13 to May 20, 2022, attracted over 230,000 orders with participation from over 1,000 brands. The festival catered to Generation Z's consumption trends and included substantial discounts across various popular categories. The success highlights Onion Global's strategy to adapt to evolving consumer preferences amidst changing spending behaviors.

Positive

• Generated over RMB100 million in GMV in first three days of the shopping festival.
• Over 230,000 orders placed, indicating strong consumer demand.
• Participation from more than 1,000 brands, showcasing broad market engagement.
• Over 300 brands joined the festival for the first time, expanding brand diversity.

Negative

• None.

GUANGZHOU, China, May 19, 2022 /PRNewswire/ -- Onion Global Limited ("Onion Global", the "Group" or the "Company") (NYSE: OG), a next-generation lifestyle brand platform that incubates, markets, and distributes the world's fresh, fashionable, and future brands to young people in China and across Asia, today announced that it generated over RMB100 million in GMV within the first three days of its 2022 High Five Shopping Festival. As O'Mall's first large-scale promotion event in 2022, the festival ran under the theme of "New Life, High Five" and specifically caters to the lifestyle and consumption trends of Generation Z consumers, allowing them to reward themselves with the newest and latest lifestyle products. During the promotion, massive discounts were on offer for a wide range of popular categories under distinct consumption scenarios, including camping trips, 520 Valentine's Day, and healthy living. The eight-day shopping festival started on May 13, 2022 and will go on until May 20, 2022.

Highlights for the first three days during the 2022 High Five Shopping Festival

• The total GMV during the first three days was over RMB100 million, and the total number of orders was over 230 thousand;
• More than 13,000 Standard Product Units (SPUs) offered by over 1,000 brands participated in the High Five Shopping Festival this year;
• More than 300 brands joined the festival for the first time;
• O'Mall platform sourced the products from 32 countries/regions, of which Australia was the top original country/region in terms of GMV during the first three days of the festival this year.

Mr. Cong (Kenny) Li, Founder, and CEO of Onion Global commented, "The success of the High Five Shopping Festival strongly reflects our insightful prediction of new consumption trends in the modern era. With growing spending power, Generation Z has become the driving force of consumption growth, and their expectations of brands are constantly changing. The younger generations are gradually shaping their own networks and developing their preferred lifestyles and consumption choices, bringing high growth potential to new consumption brands. Onion Global will closely follow and monitor new consumption trends developing from the ongoing pandemic, dive deeper into the characteristics of younger generation consumers, and incubate and provide the most attractive and cost-effective products to consumers. The selection of camping, gifting and health products for promotion during this shopping festival was specifically curated based on our in-depth market and consumer data analysis. Only by constantly staying ahead of consumers' changing needs and expectations can we further solidify our position as a leading brand management platform in the field of new consumption." 

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, the Company's forecasts, general observation of the industry, and business outlook, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "expects," "anticipates," "target," "aim," "future," "intends," "plans," "believes," "potential," "estimates" "continue," "is/are likely to," or other similar statements. Further information regarding these and other risks is included in Onion Global's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Onion Global does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Onion Global Limited

Onion Global Limited (NYSE: OG) is a next-generation lifestyle brand platform that incubates, markets, and distributes the world's fresh, fashionable, and future brands, which we refer to as "3F brands," to young people in China and across Asia. The Company's mission is to be the dream factory of lifestyle brands for young people. The Company's platform offers an integrated solution to develop, market, and distribute new and inspiring branded products, thereby reshaping the lifestyle shopping and consumer culture in China. Onion Global Limited has been listed on New York Stock Exchange since May 2021.

For more information, please visit: http://ir.msyc.com/.

Investor Relations Contact
In China:
Onion Global Ltd.
Investor Relations
E-mail: ir@msyc.cc

Christensen
Mr. Eric Yuan
E-mail: eyuan@christensenir.com
Tel: +86-10-5900-1548

In the United States:
Christensen
Ms. Linda Bergkamp
E-mail: lbergkamp@christensenir.com
Tel: +1-480-614-3004

 

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SOURCE Onion Global Limited

FAQ

What was the GMV generated by Onion Global during the 2022 High Five Shopping Festival?

Onion Global generated over RMB100 million in GMV within the first three days of the festival.

When did the 2022 High Five Shopping Festival take place?

The festival ran from May 13 to May 20, 2022.

How many orders were placed during the first three days of the festival?

There were over 230,000 orders placed during the first three days.

How many brands participated in the 2022 High Five Shopping Festival?

More than 1,000 brands participated in the shopping festival.

What demographics did the shopping festival target?

The festival specifically catered to the lifestyle and consumption trends of Generation Z consumers.