- Total GMV increased 27 % compared to 2017
Alibaba Group Holding Limited (NYSE: BABA) announced that it generated RMB213.5 billion (USD 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 (USD 30.8 billion), an increase of 27 % compared to 2017
- Cainiao Network processed more than 1 billion delivery orders
- More than 180000 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
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 of the value in online shopping. Last year, over 140000 brands and merchants participated in the global shopping event, with consumers spending RMB168.2 billion during the 24-hour period.
Alibaba Group’s mission is to make it easy to do business anywhere and the company aims to achieve sustainable growth for 102 years. For fiscal year ended March 2018, the company reported revenues of USD 39.9 billion.
A video is available here
GMV for the 11.11 Global Shopping Festival is the total value of orders settled through Alipay on Alibaba’s China retail marketplaces, Lazada and AliExpress within a 24-hour period on November 11. It is reported on a real-time basis and includes shipping charges paid (where applicable). Transactions related to international brands, defined as brands created outside of Mainland China, and user data are limited to Tmall.
Alibaba Group’s operating results disclosed in this press release are denominated in RMB; year-over-year comparisons and growth rates are calculated on the basis of RMB amounts and are not affected by foreign exchange rate fluctuations. All translations of RMB into US$ are made at USD 1= RMB6.9329, the central parity rate announced by the People’s Bank of China (PBOC) on November 9, 2018.