China’s Double 11 sales day in 2023 concludes with a big growth

On September 11, China’s e-commerce industry went on its largest sales session ever under the Double 11 AKA Single Day sales, it’s also reported that this one-day sales event has brought major profit for the entire e-commerce platform.

Alibaba Group-owned Tmall and Taobao e-commerce sites have reported positive year-on-year growth during this year’s Double 11 sales period.

On the other hand, the most popular online store – JD.com said it has received the highest-ever response from customers this season.

Each year, the Chinese online platform celebrates a 24-hour online shopping event. However, major retailers and shopkeepers promoted this event many weeks earlier than November 11.

Smartphone companies including Huawei, Apple, Xiaomi, Oppo, Vivo, Honor, and others are also offering major discounts to increase sales during this sales carnival. However, smartphones and other consumer devices on their online store are likely to keep the offers available for a few weeks more as compared to major e-commerce sites.

For now, the profits in number are not out at the moment. Last year, Double 11 sales in 2022 generated about 1.15 trillion yuan ($157.97 billion) worth of sales, reveals data from consultancy firm Bain.

(source)