Growth and Significance of Double 11

Double 11, celebrated on November 11th, has evolved into the largest online shopping event in China, surpassing traditional shopping sprees like Black Friday in the West. This year's festivities extended over a month across various platforms, with Alibaba hosting a 28-day promotion, while JD.com and Xiaohongshu had even longer durations. As of October 30, cumulative sales reached over 110 billion US dollars, marking a significant increase in consumer engagement and spending habits. This event has transitioned from a one-day sale into a pivotal tradition, drawing strong demand for innovative and high-quality products, indicating a shift in consumer expectations and behaviors.