Alibaba makes $9.3m transaction revenue on 11.11 shopping festival

November 11 has become the most celebrated unofficial festival in China since 2009 when Alibaba, the owner of China’s biggest online shopping platform Taobao, coined the festival and offered half price on its B2C portal Tmall. Because there are 4 number “1″ in the date, it is also called Single’s Day. The marketing tactic has been so successful that it feels like women and men of the whole country have entered a frantic combat mode in order to flash order their long-lusted items at half price. It’s a Single’s Day shopping festival that has nothing to do with single people anymore.

This year, Alibaba continued to set new record. At the last minute of Nov 11, the transaction revenue meter at Alibaba headquarter hit 57,112,181,350 yuan (about 9.3 million USD), among which 24.3 billion yuan transaction are made by mobiles and tablets, and 278 million yuan logistic orders. There are 217 countries and regions participated in the shopping carnival.

The mobile and tablet end transaction has risen by 4.54% compared to 2013, which in itself is a new world record of most retail transactions made by mobile devices in a single day.

The top 10 places of transaction revenue are: Guangdong Prov, Zhejiang Prov, Jiangsu Prov, Shanghai City, Shandong Prov, Sichuan Prov, Beijing City, Hubei Prov, Hunan Prov and Fujian Prov.

As for places of origin of the products sold, the US, Japan, South Korea, Australia, New Zealand and Germany are most popular among Chinese online shoppers.

A Taobao online shop operated from Chengdu received 720,000 orders within 30 minutes.

(Source: Sina)