Shandong ranks 4th in purchasing power in Double 11 spree

The online purchasing power of Shandong residents ranked fourth in the country as of 00:17 on Nov 11, or Double 11, the world's largest shopping festival.

Real-time data showed that as of 0:44:19 on Nov 11, Qingdao ranked first in Shandong in terms of buying power, followed by Jinan, Linyi, Yantai, and Weifang. Laoshan district in Qingdao was first among districts and counties, followed by Shibei district and Chengyang district in Qingdao, Lanshan district in Linyi, and Tianqiao district in Jinan.

Real-time data showed that mobile phones were the most commonly purchased items in Shandong, followed by skincare sets, down jackets, sofas, and hoodies.

According to Alibaba, the total gross merchandise volume of the 11-day shopping bonanza on platforms operated by the e-commerce giant was 372.3 billion yuan ($56.3 billion) by 00:30 on Nov 11.

Consulting firm PwC said the shopping festival is expected to become "a barometer for China's continued economic recovery", and over 800 million consumers and 5 million businesses are expected to take part.