(Yicai Global) Nov. 13 -- Chinese e-commerce platforms saw sales jump 13.7 percent to CNY1.1 trillion (USD156 billion) over the course of this year’s Double 11 shopping festival.

Gross merchandise volume at e-commerce sites such as Alibaba’s Tmall marketplace, JD.com, and Pinduoduo, rose 2.9 percent to CNY934 billion (USD132.6 billion) between Oct. 24 and Nov. 11 from a year ago, according to figures compiled by Xingyun Data.

The GMV for livestreaming e-commerce platforms, including TikTok’s sister app in China Douyin, Diantao, and Kuaishou, soared 146 percent to CNY181.4 billion (USD25.7 billion).

For the first time since Double 11’s establishment in 2009, Tmall and JD did not disclose their GMVs for the annual retail extravaganza. Tmall’s sales reached CNY540.3 billion last year, up 8.5 percent on 2020.

JD’s GMV growth was above average, with sales soaring to a new record, the e-commerce giant said, adding that the ranks of shoppers also hit a new high.

Livestream sales on Douyin lasted for 38.2 million hours from Oct. 31 to Nov. 11, with nearly 7,670 studios posting over CNY1 million (USD140,680) in sales apiece, the short-video platform said in a report. The top three livestreamers notched up sales of CNY1.2 billion (US170 million), CNY720 million (USD102 million), and CNY450 million. Douyin’s vendor numbers climbed 86 percent from a year ago.

Kuaishou saw a more than six-fold year-on-year jump in e-commerce-related short video orders between Oct. 20 and Nov. 11, with the number of buyers up over 40 percent, it said in a report on Nov. 12. The site’s top three livestreamers sold CNY3.8 billion, CNY1.6 billion, and CNY1 billion of goods.

With many sites participating in Double 11, Zhuang Shuai, founder of Beijing Bailian Consulting, said it will become normal for brands to sell products on different livestreaming platforms.

Online retail platforms and merchants are revamping their trading relationships, said Chen Hudong, a contract researcher at the e-commerce research center of digital economy website 100EC. Sluggish consumption, Covid-19, and new consumption patterns are major factors in this reorganization, with all parties becoming more rational, he added.

Editor: Futura Costaglione