Announcement: Merchandise Value of China's Double 11 Shopping Festival Exceeds RMB 1 Billion for the First Time

Syntun Statement: China Double 11 Shopping Festival Gross Merchandise Value (GMV) Is RMB 1,115.

BUSINESS
14 November 2022 Monday 13:48
NewsEditor

Announcement: Merchandise Value of China's Double 11 Shopping Festival Exceeds RMB 1 Billion for the First Time

Syntun Statement: China Double 11 Shopping Festival Gross Merchandise Value (GMV) Is RMB 1,115.5 Billion

BEIJING, Nov. 14, 2022 /PRNewswire/ -- After 14 years of development, the Double Eleven Shopping Festival has matured. This year, instead of announcing sales results, the platforms focus more on achievements in areas such as helping farmers, the environment, and environmental protection. Beyond business value, platforms continue to improve their ability to create social value. All platforms and brands have changed their focus on how to retain users and how to provide them with a better shopping experience.

For the ninth year, Syntun is monitoring and publishing Double 11 sales data as a third party platform to provide a more unbiased and objective perspective to the public. According to Syntun, during 2022 China "double 11" (from 20:00 on Oct. 31 to 23:59 on Nov. 11), the GMV of major e-commerce platforms (only includes traditional e-commerce platforms and e-commerce live email) was 1,115.4 billion RMB. The GMV of traditional e-commerce platforms was 934 billion, with the Tmall platform taking the top spot. Live streaming e-commerce platforms performed brilliantly, posting GMV of 181 billion, a total increase of 146.1%. The GMV of the New Retail Platform and Community Group Buying Platforms was 21.8 billion and 13.5 billion respectively. In terms of sales categories, home appliances remained one of the popular categories with GMV of RMB 156.6 billion.

For more details on the "double 11", please click the link: (PDF)

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