Taobao Mobile GMV Hits RMB 1 Bln in First Hour of Singles Day
Techweb, 11/11/13
According to statistics from Hangzhou-based C2C & B2C e-commerce site Taobao, gross merchandise volume (GMV) on the site's Taobao mobile client reached RMB 100 mln in the first four minutes and ten seconds of China's November 11 "Singles Day" e-commerce holiday. Within the first minute of Singles Day sales, 2 mln mobile users logged onto Taobao's mobile client. Within the first hour, more than 14 mln users logged on via Taobao's mobile client to place orders totaling RMB 1 bln.
In preparation for the event, Taobao introduced a special pre-order promotion, allowing users to place orders in advance of Singles Day, but delaying payment until November 11 in order to take advantage of holiday discounts. Between 9:00am and 8:00pm on November 9, the duration of the event, nearly 300,000 people took advantage of the promotion, placing advance orders for more than 500,000 products, for a total value of nearly RMB 100 mln.
Editor's Note: Taobao began its Singles Day sale at 12:00am on November 11.
Keywords: m-commerce e-commerce Taobao statistics wireless B2C C2C Singles Day GMV
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