China’s biggest online shopping event - Double Eleven (November 11), or Single's Day shopping festival – which offers consumer a feast of lower-priced products, saw transactions hits 372.3 billion yuan ($56.27 billion) during the 11 days of presales and the first half hour of the November 11 event, according to data from e-commerce platform Tmall.com under Alibaba, the main battlefield of the shopping spree.
In 2019, the Double Eleven shopping festival saw sales revenue of 410.1 billion yuan, up 30.5 percent year-on-year.
This year is the 12th Alibaba promoted shopping gala.Alibaba said over 30,000 brands from more than 220 countries and regions are participating in this year's event.
The most welcomed brands are Xiaomi, Huawei and Midea, and the most popular export destinations are the US, Russia and France.
The Tmall peak orders during the Nov 1 to 11 hit 583,000 per sec, and the sale of masks during the shopping festival were 76.24 percent lower than during the epidemic.
Impacted by COVID-19, total retail sales during the first three quarters of 2020 in China fell 7.2 percent, while posting a modest gain of 0.9 percent in the third quarter.
China’s biggest online shopping event - Double Eleven (November 11), or Single's Day shopping festival – which offers consumer a feast of lower-priced products, saw transactions hits 372.3 billion yuan ($56.27 billion) during the 11 days of presales and the first half hour of the November 11 event, according to data from e-commerce platform Tmall.com under Alibaba, the main battlefield of the shopping spree.
This year is the 12th Alibaba promoted shopping gala.Alibaba said over 30,000 brands from more than 220 countries and regions are participating in this year's event.
