Tmall Posts

Chinese Consumers Spend $5.7B During 11.11 Shopping Festival

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Chinese consumers have spent a record CNY35.01 billion ($5.7 billion) in the 11.11  Shopping Festival that is held by e-commerce giant Alibaba.  The festival can be compared to Cyber Monday in the United States.  Total sales during the event is up 83% from the previous year and 171.4 million orders were placed on Alibaba’s e-commerce platforms Tmall and Taobao.

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Alibaba Hits 1 Trillion RMB In Sales, Becomes Largest E-Commerce Company In The World

Alibaba has sold one trillion RMB worth of goods in 2012.  That is the equivalent of $157 billion in gross merchandise volume (GMV).  This means that Alibaba has surpassed U.S. e-commerce companies Amazon.com and eBay combined.

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