November 11 (11-11) is Singles Day in China and year 2011 makes this date more special with six “1”s. And, this date is even a bigger date for China’s online retailers.
Let’s take a look at how crazy China online shoppers can be on Nov 11 2011 on Taobao Mall (all participating merchants offered 50% discount):
- At 00:08 (just eight minutes after the promotion started), total transactions totaled 100 million yuan
- 21 minutes: exceeded 200 million
- 32 minutes: exceeded 300 million
- 1 hour: 439 million
- at 10am (10 hours): 1 billion yuan
- at 4pm: 2 billion yuan with over 10 million orders
Turnover via Alipay totaled 3.36 billion yuan (USD 530 million) on Taobao Mall, and 5.2 billion on Taobao.com and Taobao Mall combined on November 11, 2011.
