Goldman Sachs predicts that this year's 618 commodity trading volume will increase by 10% to 11%, with a preference for JD.com and Kuaishou in e-commerce.

Goldman Sachs released a report indicating that the Chinese e-commerce industry performed steadily during the 2025 618 shopping festival, with an expected total merchandise transaction volume increase of approximately 10 to 11%. Parcel volume during the period from May 12 to June 15 increased by 15%. Goldman Sachs suggested a more defensive sub-industry allocation strategy due to weaker profit prospects for e-commerce platforms in the second quarter, prioritizing games, mobile travel, and Internet vertical industries. In the e-commerce sector, the preference is for JD and Kuaishou, both rated as "buy". The report mentioned that during this year's 618 shopping festival, the merchandise transaction volume in the electronics/home appliances category drove healthy growth in the industry; existing e-commerce companies and emerging short video platforms experienced consistent growth in merchandise transaction volume; there is a greater focus on real-time on-demand e-commerce; platforms continue to support merchants and ecosystems through simplified promotional activities; and the application of artificial intelligence in e-commerce activities is increasing.