HSBC Research's report indicates that data shows that mainland China's november 11 shopping festival-related e-commerce industry GMV grew by 27% year-on-year this year, outperforming the performance of the 618 period this year and the same period last year. The growth in the categories of household appliances, beauty, and smart phones exceeded expectations. Alibaba (BABA.US) and jd.com (JD.US) have both increased their market share during the november 11 period compared to 618, and both have a "buy" rating from the bank.

The bank believes that the overall growth during the november 11 period may be close to 10 to 15%, as the parcel growth rate in the four weeks leading up to november 11 was 29%, a figure that already includes return volume.