Double Eleven Shopping Festival: Chinese e-commerce festival broke new online sales record
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The one-day online shopping extravaganza known as Double Eleven, ended with a whopping total sales of over 254 billion yuan or 38 billion US dollars by the end of November 11th. That's up over 40 percent from last year.
 
Internet giant Alibaba's Tmall once again was the biggest contributor to the sales. Smaller players, however, seemed to be catching up a little. According to big data company Syntun, Tmall sales accounted for 66 percent of all online sales that took place on Double Eleven, but that was in fact two percentage points lower year-on-year. JD.com remained as the runner-up taking about one fifth of the total sales. Home appliance retailer, Suning, however, doubled last year's performance, accounting for over 4 percent of the total sales. Amazon China and VIPshop's performances also improved. VIPShop entered the biggest five e-commerce sites on Double 11 this year, replacing Gome as the fourth largest seller of the day.