The Double 11 Shopping Festival was actually proposed by Taobao in 2009. Why was this day chosen? Because this day is between National Day and Christmas, which is an ideal time for promotion.
On Double 11 of that year, only 27 Taobao merchants including Li Ning, Lenovo, and Philips participated. Since most netizens were on the sidelines at that time, the transaction volume was only 52 million, but it was far beyond the expectations of Jack Ma, Zhang Yong and others.
On the second Double Eleven, Zhang Yong personally directed the entire process on site. This Double Eleven welcomed 711 merchants to participate, and the single-day transaction volume reached 936 million yuan, equivalent to 10,000 yuan in transactions per second, a year-on-year increase of 1772%, a 17-fold increase.
It was also in this year that JD.com saw the sweetness and launched 618, and then various shopping festivals such as Double 12 appeared.
In the first minute after 0:00 a.m. on November 11, 2012, more than 10 million independent users flocked to Tmall; 213 million netizens crowded into Tmall that day, and the number of successful transactions reached 105.8 million; the total sales within 24 hours reached 19.1 billion yuan, more than three times that of the previous year's Double 11.
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