Caixin OnlineBusiness & IndustryTop Stories Industry On 'Double 11' Day, Alibaba and Others See Exponential Growth in E-Sales
11.11.2013 19:39

On 'Double 11' Day, Alibaba and Others See Exponential Growth in E-Sales

Bras, smartphones and insurance policies – Alibaba still has online shoppers hooked on its one-day extravaganza
By staff reporter Han Wei, Cao Wenjiao and intern reporter Li Huiling

(Beijing) – In China, November 11 is called "Double 11," but the country's popular e-commerce companies enjoy sales exponentially greater than the average day.

In less than six minutes, around 1 billion yuan worth transactions were processed on Alibaba Group's online shopping sites Taobao and Tmall.

Alibaba started the shopping tradition in 2009. Net users had already made it something of a special day every year by playfully referring to November 11 – or 11/11 – as "singles day."

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