China Scratched and Scratched, Gwanggunje Sales Recorded a New Record of 83 trillion

 

It is reported that the transaction amount reached 83 trillion won, the largest ever, at the '11·11 Shopping Festival' held this year by Alibaba, the largest e-commerce company in Asia.

Alibaba on the 12th at the press center near the headquarters in Hangzhou City, Zhejiang Province, China, from the 1st to 11th, on various platforms such as Tmall, Taobao, Tmall Global, Ali Express, and Peizhou, for a total of 489.2 billion yuan (about 83 trillion 7972 billion won). Announced that the deal was made.

Gwanggunje is a large-scale online discount event held on November 11th every year. Gwanggun (光棍) means'solo' in Chinese. It is also referred to as a single day (solo day), and in 2009, Alibaba launched a massive discount event for single people through its subsidiary Taobao Mall, becoming the largest shopping day in China. It is larger than Black Friday, the largest shopping season in the United States.

This year's Gwanggun Festival's transaction amount is almost double the daily transaction amount of 268.84 billion yuan (about 45.7 trillion won) at last year's Gwanggun Festival. Alibaba's side explained that it is a cross-section showing that the Chinese economy is moving away from the shrinking consumption caused by the coronavirus epidemic and moving toward revitalizing domestic demand. 

However, Alibaba said it is difficult to directly compare this year's performance with last year due to changes in the way statistics are calculated and published this year. This year, for the first time, 

Alibaba has extended the festival period by three more days from one day to four days, setting November 1 to 3 as the “first sale period” prior to the Gwanggun Festival main event.