The “Double Eleven” Online Shopping Carnival was originated from a promotional activity held by Taobao Mall (Tmall.com) on November 11, 2009. Although at that time the number of participating retailers and promotional efforts were limited, the sales value was unexpectedly good that November 11 has then become a fixed date for Tmall’s grand sale events. In recent years, Double Eleven has become an important annual event in China’s e-commerce industry, and it is gradually affecting the entire e-commerce industry in the world.
On the Double Eleven, most of the items will be on sale for fifty percent off. To the online shoppers, this is definitely a great temptation. According to a survey conducted, 47% of the shoppers were attracted by the special discounts and offers, while those who has also shopped by need has accounted for 35%. This clearly shows that most of the shoppers have indeed spent rationally in this event. Only 7% of the respondents have shopped on a whim.
Among the customer groups, majority were from the age range of 25 to 30, which accounted for 36% of the respondents. In this age group, majority of them are fresh graduates and white collars who have been working for only several years. Owing to the high living standards, their lives have been tough. Therefore, when there is such a huge reduction in price, they will grab the opportunity to replenish their household supplies in one go, from electrical appliances to clothes. This could really save their day-to-day expenses. So in order to reduce their expenses to the greatest extent possible, they would buy as many things as possible. As a result, doubtlessly, the sales value on the Double Eleven could be so huge and has hit 19.1 billion yuan. Also accounted for a large portion was the age group of 18 to 24, which comprises mostly of college students. With limited pocket money in hand, their spending behaviors are similar to those of white collars. In order to save their daily expenses, they have actively joined the carnival.
On November 11, 2014, Double 11 reported a sales value of 57.1 billion yuan.
On November 11, 2015, Double 11 reported a sales value of 91.217 billion yuan.
A total of 217 countries and areas have participated in this carnival.
People from all around the world, from the northernmost Archipelago to the uttermost south of Chile, from Republic of Seychelles the archipelago in the Indian Ocean that has a population of only 100 thousand to Barbados the famous tourist destination in the eastern Caribbean, have participated in this online shopping carnival.