This year’s Double 11 shopping festival ended at midnight on November 11 with strong growth in total transaction volume and a record-high number of purchasing consumers.
During the Double 11 period, the Tmall platform saw 589 brands with transaction volumes exceeding 100 million yuan (roughly $13,816,350), up 46.5 percent year-on-year. Meanwhile, JD.com’s Double 11 shoppers increased by more than 20 percent year-on-year, and its procurement and sales live broadcast orders increased more than threefold compared to 2023.
Transaction volumes for more than 17,000 brands increased fivefold compared to last year. Meanwhile, the transaction volume of more than 30,000 small and medium-sized businesses doubled over the same period. This year’s Double 11 shopping festival saw 119 Taobao livestream rooms’ transaction volumes exceed 100 million yuan, another record high.
Joining the studio on the evening of November 11, CGTN’s Liu Jiaxin explained the major trends of this year’s shopping spree.