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.”
In addition to a new record GMV, the total number of delivery orders also reached a new high: 1.292 billion, up 24% from 1.042 billion last year. There were 299 brands to reach RMB 100 million in GMV, including Apple, Nike, Estee Lauder and Giorgio Armani. The top 10 countries selling to China through Alibaba’s cross-border platforms were Japan, the U.S., Korea, Australia, Germany, France, the U.K., New Zealand, Italy and Canada.
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 Chinese retail juggernaut kicked off this year’s 24-hour shopping bonanza with a live performance by U.S. pop star Taylor Swift followed by live-streamed marketing of over 1,000 brands.