Frost & Sullivan insights
As social media platforms and short-video platforms become increasingly popular among Chinese consumers, trending topics can easily lead to discussions and dissemination. The popularity of Olympic-related topics has led to a surge in online sales of items similar to those worn by athletes. Buyers said they want to pay tribute to the hard work and achievements of athletes.
During the Tokyo Olympics, Olympic-related products were also sold online. Lou Lei, Executive Director of Frost & Sullivan Greater China, said in an interview with China Daily that Chinese athletes achieved remarkable results in various competitions at the 2020 Tokyo Olympics. Popular sports among the public such as running, basketball, and football are always likely to be the focus of discussion. This has led to a surge in products related to the Olympics. In recent years, Chinese consumers have continuously increased their confidence and recognition of domestic products and brands.
Traders in Yiwu, Zhejiang Province, China's largest small commodities distribution center, have long prepared to sell small items related to the 2020 Tokyo Olympics.
Traders in Yiwu City, Zhejiang Province, the largest small commodity distribution center in China, have long been preparing to sell small commodities related to the 2020 Tokyo Olympics.
Their sales hopes were boosted when Yang Qian, the first Chinese gold medalist at the Games, became a big online hit after her victory in the women's 10-meter air rifle competition on July 24, the first day of competition.
On July 24th, the first day of the competition, Yang Qian, China's first Olympic gold medalist, caused a sensation online after winning the women's 10-meter air rifle event, greatly boosting their sales prospects.
Yang, a 21-year-old student athlete from Tsinghua University, enjoyed the moment by forming a heart shape with her hands as she celebrated her triumph on the podium.
As the 21-year-old Tsinghua University student athlete Yang celebrated her victory on the podium, she formed a heart shape with her hands to enjoy the moment.
Yang was wearing a hairpin with a yellow duck design, and following her triumph, such hairpins were in high demand among a large number of buyers.
Ms. Yang's yellow duck-shaped hairpin, which became a hit among many buyers with her victory, has become extremely popular.
Gold medalist Yang Qian celebrates on the podium in Tokyo, July 24, 2021. [Photo/IC]
Source: China Daily
Traders in Yiwu, seeing the debate about Yang's hairpin on social media platforms, wasted no time making items in similar styles to capitalize on this business opportunity.
Yiwu traders, seeing the debates about hairpins on social media platforms, seized the opportunity to create similar products to capitalize on this business opportunity.
According to Taobao, an e-commerce platform of Alibaba Group, the average daily online search volume for "yellow duck hairpins" soared by more than 4,000 percent year-on-year in the week following July 24.
Data from Taobao, an e-commerce platform under Alibaba Group, shows that within a week after July 24th, the average daily online search volume for 'Yellow Duck Hairpin' soared by more than 4000% year-on-year.
In less than a month, one retailer on Taobao sold nearly 100,000 of these hairpins. The trader also created 22 styles and colors of hairpins similar to those worn by Yang. The prices for the items ranged from 3 yuan to 10 yuan (46 cents to $1.55).
In less than a month, a retailer on Taobao sold nearly 100,000 hairpins. The businessman has also developed 22 styles and colors of hairpins similar to the ones Yang wears. The prices for these items range from 3 yuan to 10 yuan (from 46 cents to $1.55).
Hairpins have also been sought by customers overseas. Another Alibaba Group e-commerce platform, Tmall, said that in July, more than 10,000 yellow duck hairpins were ready to complete safety checks at its warehouse in Shanghai for delivery to customers in Tokyo.
Hairpins are also popular among overseas customers. Another e-commerce platform of Alibaba Group, Tmall, stated that in July, more than 10,000 yellow duckbill hairpins were ready to undergo safety inspections at the Tmall Shanghai warehouse and be delivered to customers in Tokyo.
Lou Lei, executive director of consultancy Frost & Sullivan China, said: 'Chinese athletes achieved strong results in different competitions at the Tokyo 2020 Olympics. In the past few years, Chinese consumers have shown increased confidence and recognition of domestic products and brands.
Lou Lei, Executive Director of Frost & Sullivan Greater China, said: 'Chinese athletes competed in all events at the 2020 Tokyo OlympicsRemarkable achievements have been made. In the past few years, Chinese consumers' confidence and recognition of domestic products and brands have been continuously increasing.
"Hot topics can easily generate discussion and go viral due to the increasing popularity of social media platforms and short-video platforms among Chinese consumers," Lou said.
"Since social media platforms and short-video platforms are becoming increasingly popular among Chinese consumers, hot topics can easily lead to discussion and dissemination," said Lou Lei.
Last month, among the items worn by gold medalists during the Tokyo Olympics, the yellow duck hairpin was the most popular among online buyers, according to Taobao.
According to Taobao, at the beginning of last month, among the items worn by gold medalists at the Tokyo Olympics, the yellow duckbill hairpin was the most popular among online shoppers.
Other items in high demand include necklaces similar to those worn by table tennis player Chen Meng during competition, an essential balm used by weightlifter Hou Zhihui at Tokyo 2020, and mobile phone cases like the one owned by basketball player Yang Shuyu.
Other items with high demand include necklaces similar to those worn by table tennis player Chen Meng during competitions, essential lotions used by weightlifter Hou Zhihui at the 2020 Tokyo Olympics, and phone cases owned by basketball player Yang Shuyu.
In addition to small items, other products related to the Tokyo Olympics are also selling online.
In addition to small items, other products related to the Tokyo Olympics are also sold online.
Damoson, an online store selling men's wear on Tmall, launched a new black-and-white T-shirt during the Games with "Go China" printed in Chinese characters on the front. The store said it noticed the potential business opportunities resulting from the Games and decided to launch the T-shirt immediately to attract more customers.
Tmall men's clothing online store Damoson launched a brand-new black and white T-shirt during the Olympics, with the Chinese characters 'Set Off for China' printed on it. The store stated that it noticed the potential business opportunities brought about by the Olympics and decided to immediately launch this T-shirt to attract more customers.
In online messages posted, buyers said they wanted to pay tribute to athletes' hard work and achievements.
In the messages posted online, buyers stated that they wanted to pay tribute to the athletes' hard work and achievements.
However, the popularity of small items related to the Olympics is nothing new.
However, the popularity of small Olympic-related items is nothing new.
During the London Olympics in 2012, and at the Rio de Janeiro Games four years later, online sales of items similar to those worn by athletes surged.
During the 2012 London Olympics and four years later at the Rio de Janeiro Olympics, online sales of items similar to those worn by athletes surged.
Lou said, 'The popularity of certain topics related to the Olympic Games is unlikely to last online for a long time, as users tend to constantly discover new issues to discuss. After the Tokyo Olympics, there is expected to be less discussion about some relatively niche sports.'
Lou Lei said, 'Some topics related to the Olympics are unlikely to last online for too long because users tend to keep looking for new topics to discuss. After the Tokyo Olympics, it is expected that discussions about some relatively niche sports will decrease.'
"However, sports such as running, basketball and soccer, which are widely popular among the public, are always likely to feature in discussions."
"However, popular sports among the public such as running, basketball, and football are always likely to be a focus of discussion."
*This article is reprinted from China Daily, authored by ZHU WENQIAN, with the original title 'Small items in high demand as Zhejiang traders seize sporting opportunity'.
