The 11.11 sales are still on-going. And here are some news from Alibaba that will amaze you. In just 2 hours of the 11.11 Global Shopping Festival, Alibaba Group generated nearly US$12 billion of gross merchandise volume (GMV) settled through Alipay.
Here are some stats during the event. The annual shopping festival kicked off at midnight (11th November) in China. Early highlights of this year’s 11.11 Global Shopping Festival included:
- US$1 billion (RMB6.6 billion) of total GMV was settled through Alipay in the first 2 minutes and 1 second
- US$11.9 billion (RMB78.8 billion) of total GMV was settled through Alipay in the first 2 hours, and mobile GMV settled through Alipay accounted for 91% of total GMV
- Alibaba Cloud processed 325,000 orders per second at peak within the first hour
- Alipay processed 256,000 payment transactions per second at peak within the first hour
- In the first hour, more than 60 brands each generated more than RMB100 million (US$15.1 million), including leading international brands Apple, Estée Lauder, Gap, L’Oreal, Nike, Samsung, Uniqlo and Zara, among others
These figures are really amazing. Is this going to be the future of retail in the world? Read the Press Release for more information.
Press Release
Alibaba Group Generated Nearly US$12 Billion of GMV in the First Two Hours of the 2017 11.11 Global Shopping Festival
SHANGHAI – Alibaba Group Holding Limited (NYSE: BABA) announced that it generated nearly US$12 billion of gross merchandise volume (GMV) settled through Alipay in the first two hours of the 2017 11.11 Global Shopping Festival, which saw participation from more than 140,000 brands.
The annual shopping festival kicked off today at midnight in China. Early highlights of this year’s 11.11 Global Shopping Festival included:
- US$1 billion (RMB6.6 billion) of total GMV was settled through Alipay in the first 2 minutes and 1 second
- US$11.9 billion (RMB78.8 billion) of total GMV was settled through Alipay in the first 2 hours, and mobile GMV settled through Alipay accounted for 91% of total GMV
- Alibaba Cloud processed 325,000 orders per second at peak within the first hour
- Alipay processed 256,000 payment transactions per second at peak within the first hour
- In the first hour, more than 60 brands each generated more than RMB100 million (US$15.1 million), including leading international brands Apple, Estée Lauder, Gap, L’Oreal, Nike, Samsung, Uniqlo and Zara, among others
Annual 11.11 Gala
In the hours leading up to the shopping event, Alibaba hosted its third annual gala to celebrate the official launch of the festival. Viewers were able to experience the gala live via Youku, the Tmall and Taobao mobile apps, YouTube as well as across China through Zhejiang TV, Beijing TV and Shenzhen TV. This year, the gala featured celebrity appearances and performances from Pharrell Williams, Nicole Kidman, Maria Sharapova and Jessie J, among others.
For additional content from the event, please follow the Alibaba Group official Twitter account at www.twitter.com/AlibabaGroup, or visit the Media Resources page on Alibaba corporate news site Alizila with background, factsheets and content related to this year’s 11.11.
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, nearly 100,000 merchants participated in the global shopping event, with consumers spending USD 17.8 billion (RMB 120.7 billion) during the 24-hour period. For additional history and facts from last year’s festival, as well as the latest news and updates on the 2017 11.11 Global Shopping Festival, please visit Alizila: http://www.alizila.com.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.
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i GMV for the 11.11 Global Shopping Festival is the total value of orders settled through Alipay on Alibaba’s China retail marketplaces 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. All translations of RMB into US$ are made at US$1=RMB6.6282, the central parity rate announced by the People’s Bank of China (PBOC) on November 10, 2017. The 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 GMV, mobile GMV and other figures presented in this press release are unaudited and subject to adjustments.