11.11 Alibaba global shopping festival 2018

Nov 11, 2018--Alibaba Group Holding Limited (NYSE: BABA) announced that it generated RMB213.5 billion (US$30.8 billion) of gross merchandise volume (GMV) on November 11, 2018, an increase of 27% compared to 2017.

“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.”

Key highlights from the 2018 11.11 Global Shopping Festival

Total GMV settled through Alipay was RMB213.5 billion (US$30.8 billion), an increase of 27% compared to 2017 Cainiao Network processed more than 1 billion delivery orders More than 180,000 participating brands 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

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. Last year, over 140,000 brands and merchants participated in the global shopping event, with consumers spending RMB168.2 billion during the 24-hour period.