Mobile payment platforms showcase their services during 12-12 shopping splurge

China’s consumer buying spree shifted to good old-fashioned, bricks-and-mortar stores this week, but with a very modern twist, as the country’s mobile payment service providers offered preferential ways to pay at the tills during the “Double Twelve” shopping carnival.

After record numbers spent during last month’s Singles’ Day, on November 11 – US$17.8 billion in sales for Alibaba’s online marketplaces in just 24 hours – which was dominated by online shopping, the December 12 equivalent is something of a sequel but is focused purely on offering in-store bargains.

Industry sources suggest over the past three years, the number of physical stores participating in the 12-12 festival has gone up from 20,000 to a million across China and overseas.

But paying for goods has never been easier, say experts.

“Consumers were cautious about spending on December 12, while merchants didn’t offer as many big discounts as they did during Singles Day,” said Yang Yaqiong, an e-commerce analyst with Beijing-based consulting company Analysys International.

“Instead, some small merchants and physical stores took advantage of ever-more sophisticated mobile payment methods of to lure consumers.”

Alipay, the payment tool of Alibaba’s financial affiliate Ant Financial, for instance, launched a promotion from Saturday to Monday (December 10 to 12), offering discounts or coupons to its users.