(Yicai Global) Oct. 14 -- According to forecasts by the State Post Bureau and Cainiao Network Technology Co., the domestic express delivery sector will process over 1.05 billion deliveries during this year's Double 11 (Nov. 11-16) period, up 35 annual percentage points, Xinhua News Agency reported.
Double 11 is an online shopping festival created by China's e-commerce players led by Alibaba Group Holding Ltd. [NYSE:BABA] in recent years. Starting at midnight on Nov. 11 every year, large-scale discounts are offered to entice consumers. This also triggers a sharp increase in the express delivery sector's workload.
The State Post Bureau projects that 2.68 million frontline couriers will deliver parcels during this year's Double 11 period, up more than 50 percent from last year. Delivery vehicles will increase by 59 percent, and air delivery will swell by about 40 percent.
Alibaba alone recorded sales of CNY91 billion (USD14 billion) Nov. 11, 2015, with orders reaching 467 million packages. With the rapid development of the Double 11 festival and e-commerce, Chinese courier firms are also growing quickly, with the daily number of packages processed by a single courier firm rising to 10 million from 1 million five years ago.