Turnover at Tmall, Taobao tops 1t yuan

HANGZHOU - Turnover of Tmall.com and Taobao.com, two major Chinese online shopping platforms, surpassed 1 trillion yuan ($160.5 billion) as of Nov 30, according to e-commerce platform provider Alibaba Group on Monday.

Turnover of Tmall and Taobao during the first 11 months months this year equals to 5.4 percent of China's total retail sales in 2011, which stood at 18.4 trillion yuan, according to Alibaba.

Company statistics show that people between the ages of 25 to 35, who are major customers of Tmall and Taobao, contributed to 59 percent of total turnover.

The most favored two categories of products by consumers were clothing, and 3C digital products (computers, communication and consumer electronics), accounting for 30.3 percent and 18.6 percent of the total turnover respectively.

Transaction volume on Taobao.com, which was founded in May 2003, reached 20 million yuan in that same year.

Alibaba split Taobao into three separate companies in 2011. They are Taobao, a C2C online shopping destination, Tmall, a B2C online marketplace for brand-name goods and eTao, a shopping search engine.

Transaction volume on Taobao and Tmall totaled about 630 billion yuan in 2011.