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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, 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:

Online Marketing Opportunity - Insight and Analysis of Chinese Netizens and WeChat - A Must-Know Marketing & Social Media Tool to International Wine Marketers In China

Online Sale - A Marketplace Any Wineries Shouldn’t Ignore - What Singles Day 11.11 Phenomenon Implicate To Your Marketing Strategy

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