Syntun | 2024 "Double 11 Shopping Festival" Report: The GMV during China "Double 11 Shopping Festival" reached 1441.8 billion yuan.

Syntun | 2024 “Double 11 Shopping Festival” Report: The GMV during China “Double 11 Shopping Festival” reached 1441.8 billion yuan.

Posted by Admin November 12, 2024 Shopping

BEIJING, Nov. 12, 2024 /PRNewswire/ — The Double 11 Shopping Festival in 2024 is a year of change, signaling that e-commerce platforms want to transform their long-standing pursuit of “low prices”. Revealed the idea of optimizing the business environment.

Syntun: The GMV during China 2024 "Double 11" promotion reached 1441.8 billion yuan. (PRNewsfoto/Syntun Ltd.) — Syntun: The GMV during China 2024 “Double 11” promotion reached 1441.8 billion yuan. (PRNewsfoto/Syntun Ltd.)

First, on the eve of the “Double 11”, Taobao/Tmall platform launched WeChat payment and JD platform launched Alipay payment, which broke the payment restrictions between platforms and accelerated the flow of information and funds. Secondly, Taobao/Tmall have enabled JD Logistics, and JD has enabled Cai Niao Courier Station, accelerating logistics efficiency. E-commerce platforms have launched diversified subsidy policies to save operating costs and alleviate pressure on merchants.

Syntun has been monitoring and publishing e-commerce data fairly and impartially as a third-party platform for many years.

According to Syntun, during 2024 China “Double 11” shopping festival (Tmall & JD & PDD: Oct. 14th – Nov. 11th, 2024; TikTok: Oct. 8th – Nov. 11th, 2024；Kuaishou: Oct. 10th – Nov. 11th, 2024), the GMV of the major e-commerce platforms (only including traditional e-commerce platforms and livestreaming e-commerce platforms) was 1441.8 billion RMB. Traditional e-commerce platform GMV is 1109.3 billion RMB, of which Tmall platform ranks first. Live streaming e-commerce GMV is 332.5 billion RMB. Instant retail platform and community group-buying platform GMV are 28.1 billion RMB and 13.8 billion RMB respectively.

For more information about Double 11 Shopping Festival , please click the link: https://mma.prnewswire.com/media/2555149/PDF.pdf

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SOURCE Syntun Ltd.