China's online retail sales up 26.7% in Nov 1-11
BEIJING - The online retail sales in China saw a year-on-year growth of 26.7 percent during the "Double 11" shopping spree, a spokesperson with the Ministry of Commerce (MOC) said Thursday.
From November 1 to 11, online retail sales exceeded 870 billion yuan ($124.13 billion), MOC spokesperson Gao Feng told a press conference.
New products such as newly released cellphones and sports watches became popular during "Double 11," as more brands chose to release new products on e-commerce platforms, Gao said.
Service consumption reported rapid growth. Appointments of health services like medical cosmetics and physical examinations saw a five-fold surge while online travel sales more than doubled.
About 70 percent of new e-commerce users came from emerging markets including third and fourth-tier cities, as well as counties and townships, according to Gao.
In addition, the development of the online-to-offline platforms and artificial intelligence also helped to expand consumption and improve logistics efficiency, Gao noted.
