As the Double 11 shopping festival ended with a bang, e-commerce giant T-mall has set another world record for overall transactions – RMB 91.2 billion (USD 14.3 billion).
T-mall claimed that RMB 62.6 billion of its revenue came from offline transactions, amounting to 68.67% of overall transactions. It took T-mall less than 12 hours to break its 2014 record of RMB 57.1 billion.
Overall, 213 countries and regions participated in the festival. The five provinces in China with the lowest number of transactions were Guangdong, Zhejiang, Jiangsu, Shanghai and Beijing, according to Tmall.
Most domestic consumers were from Jiangsu province in Eastern China, Zhejiang province, and Sichuan province in Western China. Most of T-mall’s overseas customers came from the U.S.
The Double 11 shopping festival was started by T-mall in 2009. According to Zhang Yong, Alibaba’s CEO, Taobao’s pageviews already reached 1.3 billion by 8pm the night before the shopping festival, surpassing last year’s pageviews during peak time.
Within seven years, T-mall’s Double 11 transactions have grown from RMB 52 million to RMB 91.2 billion, increasing by 1750 times.
(Top photo from Baidu.)