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BUSINESS & TECH

‘Double 11’ Sales Day Is a Smash Hit

Over the sale’s first 24 hours on Saturday, Alibaba recorded 1.48 billion transactions from both its Taobao market place and Tmall brand store. It got off to rapid start, ringing up some $7 billion worth of goods sold in the first 30 minutes of the event. Photo: Visual China
Over the sale’s first 24 hours on Saturday, Alibaba recorded 1.48 billion transactions from both its Taobao market place and Tmall brand store. It got off to rapid start, ringing up some $7 billion worth of goods sold in the first 30 minutes of the event. Photo: Visual China

China’s e-commerce giants smashed their “Double 11” record this year once again amid the country’s shopping frenzy, with Alibaba Group Holding Ltd. leading in sales and its rival JD.com catching up.

Sales of merchandise sold by Alibaba affiliated platforms hit $25.3 billion in 24 hours, a 40% surge from a year ago. JD.com, Alibaba’s major rival and the country’s second-largest e-commerce firm, also reported an impressive $19.1 billion yuan daily sales in this year’s festival.

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