China's Double 11 Shopping Festival Total Transaction Value Exceeds Trillions of RMB for the First Time

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Nov 12, 2022, 06:26 ET

Syntun Release: China's Double 11 Shopping Festival GMV of 1115.4 billion RMB

BEIJING, Nov. 12, 2022 /PRNewswire/ -- After 14 years of development, the Double Eleven shopping festival has matured. This year, instead of announcing sales results, the platforms are focusing more on achievements in areas such as helping farmers, green and environmental protection. Beyond commercial value, the platforms continue to enhance their ability to create social value. All platforms and brands have shifted their focus to how to retain users and how to bring them a better shopping experience.

For the ninth year, Syntun is monitoring and releasing Double 11 sales data as a third-party platform in order to bring a more impartial and objective perspective to the public. According to Syntun, during 2022 China "double 11" (from 20:00 on October 31st to 23:59 on November 11th), the GMV of the major e-commerce platforms (only including traditional e-commerce platforms and livestreaming e-commerce platforms) was 1115.4 billion RMB. The GMV of traditional e-commerce platforms was 934 billion, with Tmall platform ranking first. Livestreaming e-commerce platforms performed brilliantly, with the GMV of 181 billion, total increase of 146.1%. The GMV of New retail platform and community group buying platforms were 21.8 billion and 13.5 billion respectively. In terms of sales categories, household appliances remained one of the popular categories with the GMV of 156.6 billion RMB.

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

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