Taobao Generates 1 Billion Yuan in 37 Minutes on Singles Day

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Today is November 11, Singles Day in China.

Chinese E-commerce giant, Taobao (Taobao Marketplace is a Chinese language web site for online shopping, similar to eBay and Amazon, operated by Alibaba Group,its annual turnover has hit 1000 billion Yuan last year)broke several records just now:

in the first 10 minutes, the turnover exceeded 250 million RMB;

turnover of those exclusive online Shops like Camel, GXG and Jack Jones exceeds 10 million RMB in 15, 20, 23 mintues respectively;

in only 37 minutes, the turnover on Taobao has exceeded 1 billion RMB in all!

This news has already appeared on more than 1 million website in China.

Even Chinese netizens are shocked by the data:

@张雨芹:这么多,太。。。。我也消费消费去

So many, that’s too… I will go shopping too

@丁道师 :这还仅仅是支付宝,算上其它手段,15亿有了吗?

That’s only the data retrieved from Alipay, (Chinese Paypal) it should be over 1.5 billion, considering others, right?