At a press conference held by the Ministry of Commerce on Thursday, the spokesman introduced the current consumption numbers and highlighted the sales of the online Lunar New Year's Shopping Festival in 2022.
According to data released Friday by Chinese tech giant Alibaba, the total transaction volume on its e-commerce plaform Tmall during the 'Double 11' shopping festival was 540.3 billion yuan ($84.448 billion), hitting a new high.
Chinese e-commerce platform JD.com launched its Double Eleven Shopping Festival at 8:00 p.m. last night. The turnover of smartphone brands Xiaomi, OPPO, Realme, Huawei, Honor, iQOO and Vivo increased by over 300% year-on-year.
Compared to the grand scale of the Double 11 shopping festival, Double 12, which took place on Dec. 12, appeared to be more low-key without ubiquitous campaigns and great discounts.
Alibaba Group kicked off its 2019 11.11 Global Shopping Festival, taking the annual celebration into its second decade with a focus on “new consumption,” “new business” and contributing to a greener society.
In Episode 29 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma talk about China’s version of “Black Friday,” the biggest ecommerce shopping festival of the year which Alibaba invented out of thin air in 2008 and now falls yearly on November 11.
