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Tmall 'Double 11' Data: 471 Home Appliance Brands Record 1x Growth in Turnover
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The sales of home appliances in stock of BABA-W (09988.HK) (BABA.US)'s e-commerce platform, Tmall, for “Double 11” started at 8pm on 14 October. Government subsidies were superimposed on Tmall's “Double 11” discounts for the first time this year, driving home appliance brands to collectively soar. The overall turnover of major appliances in the first hour of sale was 765% higher than that of the pre-sale period of 2023 “Double 11”, according to the data. 471 home appliance brands including TCL and XIAOMI-W (01810.HK) recorded 1x growth in their turnover in the first 4 hours of sale. Shanghai, Shandong, Guangdong, Zhejiang and Sichuan became the top five provinces and cities in terms of the amount of Tmall's home appliance trade-in orders. AAStocks Financial News |
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