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Presale figures of “Double 11” reveal improved consumption power of Chinese

(People's Daily Online)    16:55, November 07, 2019

Advertisements for the Double 11 festival are seen in a subway station in Beijing.

Fifty-five cars sold in one second; 10,000 65-inch televisions sold in 20 seconds; 300,000 tons of kiwi fruits sold in 30 minutes.

These presale figures of the approaching “Double 11” online shopping spree indicate not only the success of the shopping festival but also the growing power of Chinese consumption.

According to statistics released by Tmall, an online shopping platform under e-commerce giant Alibaba, 64 brands had made it into the 100-million-yuan ($14.3 million) club for their presale performance by Oct. 31, double the number last year.

For instance, Estee Lauder’s presale volume hit nearly 500 million yuan in the first 25 minutes, exceeding the 24-hour figure last year. In addition, the first half-hour presale figures of phone makers, including Huawei, OPPO, VIVO and Xiaomi also surpassed those made in a day in 2018.

A big part of the presale performance was contributed by third- and fourth-tier cities, as well as rural regions.

Statistics released by China’s Ministry of Commerce showed that e-commerce had maintained sound momentum in the countryside, and the online retail volume in China’s rural regions hit 1.2 trillion yuan in the first nine months of this year, up 19.7 percent year-on-year.

Another distinct feature of this year’s “Double 11” is that online platforms have begun selling cars and houses.

Zhao Zhensheng, general manager of a car dealership in Shandong province, noted that the sales volume of his store surged over 20 times after he started selling cars through a live-stream show on Taobao, the e-commerce platform of Alibaba.

“It’s a hard-won result for us in a small town, and it seems like we have opened a door that leads to another world,” he said.

Moreover, Tmall launched 143 houses for auction on Tmall, and its competitor JD.com has also joined hands with over 200 real estate developers in 70 cities and launched 6,000 homes on special offer.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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