Photo: VCG

Online retailers have set new sales records with the launch of this year's Singles' Day shopping spree, demonstrating China's solid economic recovery from COVID-19.

As of 1:51 am on Sunday, 100 brands have seen transactions on Alibaba's Tmall exceed 100 million yuan ($14.9 million) just 111 minutes into the shopping spree, which kicked off at 12 am, data sent by Alibaba to the Global Times showed.

In the first 60 seconds, Adidas' turnover on Alibaba's Tmall platform exceeded 100 million yuan, followed closely by Nike.

Cosmetics and 3C electronic products are the most sought after on double 11, with brands like Apple, L'Oréal, Haier, Estee Lauder, Huawei, Midea, Lancome and Xiaomi all joining the 100 million yuan club.

"This year's Double 11 is like a Chinese New Year!" a netizen commented on China's twitter-like Weibo. 

As the biggest shopping festival following the pandemic, Alibaba launched sales promotions as early as November 1 prior to the main event on November 11, with discounts on 14 million products to maximize results.

Global Times