Xiamen ranks 3rd in Fujian in purchasing power in Double 11 spree
Xiamen's total gross merchandise volume (GMV) during the Double 11 shopping spree had totaled 3.59 billion yuan ($546 million) by midnight Nov 11, ranking third in Fujian province.
As the world's largest shopping festival, Double-11 is of great significance for consumption figures across China. According to Alibaba, Fujian's total sales during Double 11 reached 18.9 billion yuan, ranking ninth in the country.
Statistics show that the post 1980s and 90s are playing a major role in online consumption, accounting for 70 percent of Xiamen's total number of consumers.
Enterprises in Xiamen also show great power in selling products. During this year's Double 11 shopping gala, the total online retail sales of Xiamen's enterprises totaled 15.45 billion yuan, up 41.1 percent year-on-year, ranking second in Fujian and accounting for 35.3 percent of the province's total online retail sales during the Double 11 shopping spree.
Clothing, shoes and hat needle textiles, daily necessities and cosmetics are the top three online products in Xiamen, and Fujian-based Anta group took the crown in online retail sales in the city.
Xiamen's total GMV in Double 11 spree totals 3.59 billion yuan by midnight Nov 11. [Photo/xmnn.cn]
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.