(Yicai Global) Nov. 11 -- The turnover of the 2018 Tmall Double-11 topped CNY168.2 billion (USD24.2 Billion) at 3.49 p.m., which was the entire transaction volume of its whole-day event last year.
Tmall is the online retail marketplace under Hangzhou-headquartered tech and e-commerce titan Alibaba Group Holding.
China's second-largest online emporium, Beijing-based JD.Com, started its own shopping festival Nov. 1. Its total orders had passed CNY100 billion by Nov. 10.
Suning.Com, headquartered in of Nanjing, in China's eastern Jiangsu province, sold over CNY1 billion in 50 seconds. Its online orders had risen by almost one and a half times annually by noon, but the company has thus far announced no more specific data.
Xiaomi Mall run by Beijing-based Xiaomi Technology unloaded CNY100 million (USD14.4 million) worth of goods today in a mere 36 seconds flat. Netease Koala, the online buying platform of Beijing-based NetEase, smashed through the CNY100 million mark in three minutes, 49 seconds.
Double-11, also known as Singles' Day, was originally an anti-Valentine's Day protest by male Chinese college students but has now transformed into the world's greatest consumer carnival. Double-11 refers to the date on which it falls.
Editor: Ben Armour