Tmall.com Racks Up CNY168.2 Billion This Singles Day, With at Least One Buy Per Capita Nationally

Tmall.com Racks Up CNY168.2 Billion This Singles Day, With at Least One Buy Per Capita Nationally

Yicai Global

Date: Mon, 11/13/2017 - 16:36 / Keywords: Consumer Demand, Double-11 Shopping Festival
  • Zhang Yong, chief executive of Alibaba Group, announces the final tally. Tmall.com closed with a turnover of CNY168.2 billion this Double-11.HIDE
  • Hordes of journalist gather inside the Media Center to report the news.HIDE
  • Jack Ma sitting in the audience.HIDE
  • Tmall's unmanned supermarket just outside the Media Center shows the achievement of Alibaba Group’s new retail concept achievement.HIDE
  • A Western consumer tries out Tmall's dressing mirror to size some garb via its big screen.HIDE

(Yicai Global) Nov. 13 -- As of midnight on Nov. 12, 2017, Tmall.com, the business-to-consumer retail platform of Alibaba Group Holding Ltd. [NYSE:BABA], ended its Singles’ Day marathon with a turnover of CNY168.2 billion, breaking the transaction record of CNY120.7 billion on last year’s Double-11, as the holiday is also known.

Alipay, Alibaba’s online payment arm, processed up to 812 million orders and logged 1.48 billion payments. Consumers from 225 countries and regions joined in the Double-11 shopping frenzy this year.

Singles’ Day started as a counter-Valentine’s Day college students pioneered in the 1990s to protest societal pressure to wed. The four single digits in the date account for its alternate name. It has now evolved into China’s e-commerce Black Friday.

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Keywords: Consumer Demand, Double-11 Shopping Festival