Focus on Arts and Ecology

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China's Double Eleven shopping spree sees great consumer power

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November 12, 2021 

The just-concluded Double Eleven shopping festival in China witnessed great consumer power with new sales records and consumption trends, data showed on Friday. 

Major e-commerce platforms reported a new sales record but with slower growth rates. 

In this year's event which ran from November 1 to 11 on Alibaba's e-commerce platform, Tmall generated 540.3 billion yuan (about $84.54 billion) in gross merchandise volume (GMV), with a year-on-year growth rate of 8.45 percent, compared with 26 percent in last year's event.

The company added that 78 brands registered a GMV between 10 million yuan and 100 million yuan, while 698 others generated a GMV between one million yuan and 10 million yuan over the 11-day festival.

(Sources: China Report)

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