**Beijing, November 13th**
According to the *Voice of Economy*’s “Yangguang Finance Review,†the recent “Double 11†shopping festival once again turned into a massive online event for netizens, with e-commerce transaction volumes reaching new heights. On the 11th, Tmall reported a daily turnover of 168.2 billion yuan, while Jingdong surpassed 127 billion yuan. Suning saw a staggering 163% increase in all-channel sales. What do these numbers really mean? And what do they reveal about the evolving Chinese market?
Lynx’s “Double 11†commander Liu Bo shared his insights: “The ‘Double 11’ has passed, and everyone is looking at the transaction figures. But we are more interested in the key trends behind this event.â€
Firstly, this year’s growth isn’t just due to an increase in the number of buyers. It’s also driven by a clear shift toward higher-value consumption. The average spending per customer rose, showing that consumers are upgrading their purchasing power and that platforms are effectively guiding them toward better choices.
Secondly, international participation reached new levels. Consumers from over 200 countries joined the “Double 11†festivities, bringing a global flavor to the shopping experience. This not only broadens the market for Chinese brands but also helps them expand globally.
Thirdly, this year marked a true integration of online and offline retail. Tmall, for example, is no longer just an e-commerce platform. It’s embracing the concept of “new retail,†which blends digital and physical experiences. This year was dubbed the first year of new retail, as more offline stores participated, offering consumers a seamless shopping experience.
Some analysts consider “Double 11†as the “barometer†of China’s economy, reflecting consumer confidence and purchasing power. Behind the record-breaking numbers lies a wealth of information about how the market is evolving.
Wang Siyuan, a commentator from *Economic Voice*, highlighted the transformation of “Double 11†over the past nine years. Originally known as the “Singles Festival,†it has now become a global shopping event. From 100 billion to 200 billion, the numbers are impressive, but what truly matters is the underlying changes in consumer behavior and business models.
Foreign media have described “Double 11†as a “digital consumer revolution.†Unlike Black Friday, which relies on discounts and real-world deals, “Double 11†showcases China’s technological innovation and the power of its e-commerce ecosystem. Alibaba, Jingdong, and other companies continue to make the event more engaging, entertaining, and efficient.
This year’s success reflects the full potential of the “new retail†model, with a strong global impact. Alibaba’s 168.2 billion yuan in sales, 90% of which came through mobile devices, and 812 million logistics orders across 225 countries show just how far China has come.
Behind the scenes, advanced technology plays a crucial role. Intelligent systems handle everything from data analysis and customer service to inventory management and logistics. These systems work alongside human staff, improving efficiency and personalization.
In terms of payments, Ant Financial handled an incredible 256,000 transactions per second, with a processing speed of 42 million operations per second. Blockchain technology also ensures product authenticity and traceability.
The integration of online and offline retail has transformed consumer habits. Traditional stores are now part of the “new retail†ecosystem, offering immersive experiences and smart services. This shift has made “Double 11†more than just a shopping event—it’s a reflection of changing consumer preferences and behaviors.
As more people shop based on quality rather than price, the trend shows a more rational and informed consumer base. The “one-stop†shopping experience, powered by technology, has made it easier and more cost-effective for people to buy what they need.
In many ways, “Double 11†has become a cultural phenomenon. Once associated with loneliness, it’s now a festive celebration of consumerism and modern living. For many, it’s a time to enjoy, connect, and embrace the future of shopping.
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