Alibaba's Singles Day Sales Hit $30.8 Billion in 24 hours
Alibaba Group Holding Limited generated RMB213.5 billion (US$30.8 billion) of gross merchandise volume (GMV) on Singles Day, November 11, an increase of 27% compared to 2017.
Alibaba kicked off the 11.11 Global Shopping Festival at midnight in China. In the first 1 minute and 25 seconds the retailer brought in US$1 billion of total GMV through Alipay. US$10 billion of total GMV was settled through Alipay in 1 hour and 48 seconds.
“Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles,” said Daniel Zhang, CEO of Alibaba Group. “Participation from the entire Alibaba ecosystem enabled our brand and merchant partners to engage with consumers like never before. Looking ahead, Alibaba will continue to lead the evolution towards the future digital economy and lifestyle.”
The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness of the value in online shopping. This year brought more than 180,000 participating brands.
In the hours leading up to the shopping event, Alibaba’s video streaming platform Youku hosted the fourth annual countdown gala to celebrate the official launch of the festival. Viewers were able to experience the gala live via Youku, as well as across China on two major Chinese TV stations. This year, the gala featured international celebrity appearances and performances from Miranda Kerr, Mariah Carey and Cirque du Soleil.
In 2017, over 140,000 brands and merchants participated in the global shopping event, with consumers spending RMB168.2 billion during the 24-hour period.
highlights from the 2018 11.11 Global Shopping Festival
- Cainiao Network processed more than 1 billion delivery orders
- Over 40% of consumers made purchases from international brands
- 237 brands exceeded RMB100 million in GMV, including leading international brands Apple, Dyson, Kindle, Estée Lauder, L’Oréal, Nestlé, Gap, Nike and Adidas
- Top countries selling to China: Japan, United States, South Korea, Australia and Germany
- 230 countries and regions with completed transactions
- Lazada participated in 11.11 as part of the Alibaba ecosystem, bringing the festival to consumers in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam