Alibaba Group Holding Limited 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.”
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
David Lloyd, Managing Director UK, Netherlands and Nordics said:
“This year we generated $38,379,306,366 in GMV but beyond the big numbers, Alibaba’s Global Shopping Festival offers a fascinating insight into the future of retail in China. For the brands that take part, it’s not just about sales and engagement, but brand-building, using entertainment, data-driven product innovation, consumer insights and star power to attract shoppers.
“One of the most exciting new trends in consumer engagement is livestreaming – particularly for international brands looking to reach new customers. Working with Key Opinion Leaders (KOLs) via livestreaming is an extraordinarily powerful way to bring products to life.
“Consumer beauty tech brand Smoothskin, an Intense Pulsed Light hair removal business based in Swansea is a stand-out example of a UK brand that has successfully incorporated livestreaming into its China growth and marketing strategy, particularly around the Global Shopping Festival this year.”
About the 11.11 Global Shopping Festival
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. More than 200,000 brands are participating in this year’s event.
For additional content from the event, please follow the Alibaba Group official.