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BABA-W Tracks 150M+ Orders during 'Double 11' w/ Taobao's 'RMB10B Super Subsidy'
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BABA-W (09988.HK)(BABA.US) said that Taobao's RMB10-billion subsidy channel, which focuses on "quality goods and good prices" from different brands, is becoming a new growth driver for brands. During this year's Tmall Double 11 period, the group upgraded its subsidy campaign to "RMB10-billion super subsidy". As at 0:00 a.m. yesterday (11th), the number of orders for Taobao's "RMB10-billion super subsidy" toppled 150 million, and the number of orders placed heightened 50% YoY, driving the transaction amount of home appliances, audio-visual digital products, beauty and personal care consumables, apparel, sportswear, home furniture and others up by over 100%. More than 100 brands posted transaction amount of their top-selling items of over RMB100 million. Moreover, the platform's live e-commerce business has also continued to thrive. As of 0:00 a.m. today (12th), there were 119 live streaming rooms on Taobao Live with turnover exceeding RMB100 million , a record high. This year, Taobao Live's overall turnover and number of purchasing users on Tmall Double 11 manifested a noticeable YoY growth. AAStocks Financial News |
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