China's Largest Event "Double Eleven" has Ended, Alibaba's Transaction Volume Exceeded 9 Trillion Yen

​​​​​​​EC Weekly Picks 中国旗

On November 12, the online shopping sale "Single's Day (Double Eleven)," which is held every year on November 11 in China, ended. Double Eleven, which started as a one-day event 13 years ago, has grown from October 20 to November 11 this year and has grown into an event that lasts for approximately a month. In addition, "sustainability" and "comprehensiveness" are the keywords of this year's event. Online shopping companies have called on consumers to have an "eco-friendly life" and have actively introduced environmentally friendly measures such as delivery. As a result of major business operators, the transaction value of "Alibaba Group" that is the number one online shopping company, increased by 8.5% from the previous year, reaching a record high of 540.3 billion yuan (approximately 9.65 trillion yen). 290 thousand brands participated in the sale, of which 29 thousand were overseas brands. In addition, more than 1.3 million new products were offered on the cross-border online shopping site "Tmall Global," Alibaba's subsidiary. The transaction value of “” that is the second largest online shopping company also reached a record high, rising 28.6% from the previous year to 349.1 billion yuan (approximately 6.1092 trillion yen). At the time of double eleven, the company launched "xiaoshigou," a new business of immediate delivery together with the grocery delivery affiliate "Dada Group" to strengthen the provision of speedy delivery. Since around 2020, the Chinese authorities have been tightening control over Internet companies. In this background, the companies that carried out the sale refrained from announcing breaking news on the progress of the sale compared to the usual year. Instead, the companies made an appeal for social contribution by purchasing eco-friendly products, and called for donations.

Sources: Nihon Keizai Shimbun "China's "Singles' Day" Sale Ended. Alibaba's Transaction Volume Exceeded 9 Trillion Yen." (November 12, 2021)(link available in Japanese onl

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