Meaning:

“爆” is short for “火爆,” which means “super hot,” and “款” means “a model of product.” Coined by Chinese netizens and frequently used in association with online shopping, this term refers to a model of product that is very popular and sells in huge volumes.

Example:

A: 你这件衣服真漂亮，在哪儿买的？

Nǐ zhèjiàn yīfú zhēn piāoliang，zài nǎr mǎi de？

This top of yours is gorgeous. Where did you buy it?

B: 我昨天去万象城逛商场，一眼看中这件上衣。店员说，这是今年夏天的爆款。

Wǒ zuótiān qù wànxiàngchéng guàng shāngchǎng，yīyǎn kànzhòng zhèjiàn shàngyī。Diànyuán shuō，zhè shì jīnnián xiàtiān de bàokuǎn。

I went to the MixC Mall yesterday and fell in love with this top immediately. The saleswoman said it is among the best-selling items of this summer.