Lifestyle

Alibaba Group Generates US$38.4 Billion of GMV during the 2019 11.11 Global Shopping Festival

Alibaba Group Holding Limited (NYSE: BABA) has announced that it generated RMB268.4 billion (US$38.4 billion) of gross merchandise volume (GMV) on November 11, 2019, an increase of 26% compared to 2018.

“Today we showed the world what the future of consumption looks like for brands and consumers,” said Fan Jiang, President of Taobao and Tmall.

“We are meeting the growing demand of Chinese consumers and helping them upgrade their lifestyles while introducing new users to our digital economy from across China and around the world.”

Read More : Jack Ma officially retires as Alibaba’s chairman

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Highlights from the 2019 11.11 Global Shopping Festival

• Total GMV settled through Alipay was RMB268.4 billion (US$38.4 billion), up 26% YoY
• More than 200,000 participating brands
• 1 million new products launched for 11.11
• Cainiao Network processed 1.3 billion delivery orders
• Top five countries selling to China through our cross-border platforms by GMV: Japan, United States, South Korea, Australia, Germany
• 299 brands surpassed RMB100 million (US$14.3 million) and 15 of those brands surpassed RMB1 billion (US$143.0 million) in GMV; top brands included: Apple, Bose, Estée Lauder, Gap, H&M, L’Oréal, Levi’s, MUJI, Nestlé, Nike, Philips, The North Face, Under Armour, Uniqlo

The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness about the value of online shopping.

However, more than 200,000 brands are participating in this year’s event.

Saman Siddiqui

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