Buying travel products has become a new favorite of Chinese consumers during the Singles Day shopping spree, and the growth rate in this activity has exceeded the purchases of some physical goods.
In the past five years, the number of travel product orders on Nov 11 has seen a compound annual growth rate of nearly 60 percent. Each year, the number of new consumers who bought travel products grew by more than 30 percent over the previous year, according to Fliggy, the online travel arm of internet giant Alibaba Group.
On Monday, more than 5 million people booked overseas trips on Fliggy. The total transaction volume of international flight tickets jumped 50 percent over last year. The platform has also seen over 900,000 visa orders and 1 million nights of hotel bookings, the travel arm of Alibaba added.
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