A Glimpse to the Power of Chinese eCommerce Development - 11.11 (Singles Day)
Knowing it or not, this is whoever international marketer who shouldn’t ignore the power of e-commerce festival in China. This year, as usual, records made at every moment.
In Alibaba’s flagship platform – T-Mall & Taobao, transaction reached 10 billion Chinese Yuan (CNY) in 3 minutes.
CNY 57.1 billion in 1 hour 49 seconds which broke the daily record made 3 years (2014) ago, and reached US$10 billion in 1 hour 7 minutes.
Other records included 325,000 transactions made in 1 second (vs 175,000 transactions made in 2016) and payment system (AliPay) processed and completed 256,000 transactions in 1 second. At 1 a.m., over 90% of transactions were made on buyers’ mobile device.
Even T-Mall’s competitor JD.com, whose turnover exceeded CNY95 billion at 2 a.m. (in 2 hours).
I’ll update you of this Chinese full-buying-power consuming record-breaking event later today.
There’re some interesting articles about the Singles Day which you may also interest: