BUSINESS Chinese spend big over Singles' Day shopping festival


Chinese spend big over Singles' Day shopping festival


16:20, November 11, 2020

Chinese shoppers have spent big over the Singles' Day shopping festival, showing the country's strong economic recovery following the COVID-19 epidemic.

Employees work at an airmail distribution center of China Post in Guangzhou, south China's Guangdong Province, on Nov. 10, 2020. (Photo: Xinhua)

Sales on Alibaba's e-commerce platform Tmall exceeded 372.3 billion yuan (56.29 billion U.S. dollars) between Nov. 1 and 12:30 a.m. on Nov. 11.

At the shopping peak, 583,000 orders were made in a single second on Tmall, setting a new online shopping record.

To cater to growing demand from Chinese consumers, Tmall launched this year's shopping festival early, with the first discount period running from Nov. 1 to Nov. 3 in addition to the normal full-day sales on Nov. 11.

More than 800 million shoppers, 250,000 brands and 5 million merchants have participated in this year's shopping spree, according to Tmall.

Weng Yi, a researcher with Chinese think tank Cathay Institute for Public Affairs, said this year's Singles' Day shopping spree could serve as a barometer for China's consumption, as the government pursues a "dual circulation" development pattern, where domestic and foreign markets can boost each other, with the domestic market as the mainstay.

"With overseas purchases hampered by the pandemic, the Singles' Day shopping carnival has offered an optimal opportunity for Chinese consumers to buy overseas products, and may significantly boost sales for global brands and merchants," Weng said.

E-commerce giant also scored big in the shopping extravaganza, with its sales topping 200 billion yuan (29.41 billion U.S. dollars) between Nov. 1 and 12:09 a.m. on Nov. 11.

Notably, sales of JD's fast-delivery grocery business soared a staggering 50 fold compared with the same period last year, while its sales of 5G smartphones spiked 11 fold.

Moreover, sales of imported products for new mothers and babies on JD doubled year on year and mobile phones offering optimal gaming experience grew by 160 percent.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue