China’s Double 11, Nov 11 also called Single’s Day in China, has become a national shopping festival. The total online transaction values on Tmall reached 91.2 billion yuan (US$14.25 million) on Double 11 in 2015 (52 million yuan in 2009, 936 million yuan in 2010, 5.2 billion yuan in 2011, 19.1 billion yuan in 2012, 36.2 billion yuan in 2013, and 57.1 billion yuan in 2014) by covering online and offline, rural and urban, domestic and abroad.
Related: Top Tmall Stores on Double 11 2015
62.8% internet users made a purchase on Double 11 2015 according to CNNIC, representing 6 percentage points higher compared to the 56.8% the same period last year. The penetration rate of online shopping reached 56% as of June 2015. Double 11 has become an opportunity to drive up the annual sales for businesses.
From November to December 2015, Chinese online shoppers are expected to spend US$150 billion in total and the average expenditure will reach US$209.87 according to Adobe Digital Index. Read more here. The last quarter of year is always the most critical for Chinese retailers with Double 11, Black Friday, Double 12 and New Year’s Day (including Lunar New Year) promotions.
Expand your reading: China Retail V.S. Online Shopping 2015
China’s online shoppers spent an average of 1,634.8 yuan (US$255.46) on Double 11 2015 compared to 1,353.3 yuan (US$211.48) on Double 11 2013 and 1,464.2 yuan (US$228.80) on Double 11 2014. Although the average per capita spends on Double 11 this year increased, the proportion of spending on Double 11 in monthly per capita spends declined. The proportion was 2.5 in 2013 and 2.3 in 2014 while only 2.2 in 2015.
39.9% shoppers planned over 90% of their spends ahead and 31.8% planned 51% to 90% spends on Double 2014. 39.0% shoppers spent less than 20% of their total expenditure by an impulse and 17.7% spent over 80% by an impulse on Double 11 2015. Many impulsive spends led to the high return rate this year.
Double 11 online shopper retention rate was 9.8% among online shoppers on Double 11 2009 and 25.9% the highest on Double 11 2013. Among the users who bought goods on Double 11 this year, 64% would continue to participate in the festival in 2016 and 33.8% are not sure.
China’s online shopping users are expected to reach 891 million by 2020 2.1 times that of 2015 and the total e-commerce market is predicted reach 13.91 trillion yuan (US$2.17 trillion) accounting for 26.7% of total retail sales according to Kantar Retail. By promotion of profitable policy under “internet plus”, China’s online shopping market is doomed to maintain steady growth. The cross-border online shopping market is expected to broadening China’s cross-border online shoppers during Black Friday shopping season and from November to December 2015 Chinese online shoppers are expected to spend US$150 billion in total and the average expenditure will reach US$209.87 according to Adobe Digital Index.
Also read: China Retail V.S. Online Shopping 2015