US$25.3 Billion Sales During 2017 11.11 Global Shopping Festival

It is a phenomenal success. The Alibaba Group has generated US$25.3 Billion (RMB168.2 billion) of gross merchandise volume (GMV) in 24 hours during the 2017 11.11 Global Shopping Festival.

In fact, it generated about half that amount is just 2 hours. Check out the news HERE. What is more interesting is that what seems to be an ordinary day (11/11) becomes an important (shopping) day for consumers, thanks to Alibaba Group. Coined as the Singles’ Day, Alibaba Group started this festival in 2009 and now it is globally accepted as a shopping day for many consumers across the globe.

If you happened to buy items from Alibaba, you are also one of the contributors. Here are some staggering stats during the 24-hour period.

  • Total GMV settled through Alipay was RMB168.2 billion (US$25.3 billion), an increase of 39%
    compared to 2016
  • Total mobile GMV settled through Alipay was approximately 90% of total GMV, compared to 82% last year
  • More than 140,000 participating brands and merchants
  • Alipay processed 1.48 billion total payment transactions, up 41% from 2016, and processed 256,000 transactions per second at peak
  • Alibaba Cloud processed 325,000 orders per second at peak
  • Cainiao Network processed 812 million total delivery orders
  • The first delivery arrived 12 minutes and 18 seconds after midnight

You can read more information in the Press Release below. What will interesting, in my opinion, is that more retailers will embrace the festival next year. It will be a win-win situation for both retailers and consumers. Sadly, during this year 11/11, Amazon Prime Now did not do much to ride on the success. I hope that they can be more competitive during the Black Friday (24th November) or Cyber Monday (27th November) that are coming soon.

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Press Release

Alibaba Group Generated US$25.3 Billion (RMB168.2 Billion) of GMV During the 2017 11.11 Global Shopping Festival

Total GMV increased 39% compared to 2016

Shanghai, November 12, 2017 – Alibaba Group Holding Limited (NYSE: BABA) announced that US$25.3 billion (RMB168.2 billion) of gross merchandise volume (GMV) was settled through Alipay on November 11, 2017, an increase of 39% compared to 2016. Mobile GMV settled through Alipay accounted for 90% of total GMV.

“More than US$25 billion of GMV in one day is not just a sales figure,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “It represents the aspiration for quality consumption of the Chinese consumer, and it reflects how merchants and consumers alike have now fully embraced the integration of online and offline retail.”

Key highlights from the 2017 11.11 Global Shopping Festival

The Alibaba Economy at Scale

  • Total GMV settled through Alipay was RMB168.2 billion (US$25.3 billion), an increase of 39%
    compared to 2016
  • Total mobile GMV settled through Alipay was approximately 90% of total GMV, compared to 82% last year
  • More than 140,000 participating brands and merchants
  • Alipay processed 1.48 billion total payment transactions, up 41% from 2016, and processed 256,000 transactions per second at peak
  • Alibaba Cloud processed 325,000 orders per second at peak
  • Cainiao Network processed 812 million total delivery orders
  • The first delivery arrived 12 minutes and 18 seconds after midnight

Globalization: Power of the Chinese Consumer

  • 60,000 international brands and merchants available to Chinese consumers
  • 225 countries and regions with completed transactions
  • 167 merchants each generated more than RMB100 million (US$15.1 million) in sales, 17 merchants
    surpassed RMB500 million (US$75.4 million) in sales, and 6 merchants surpassed RMB1 billion
    (US$150.9 million) in sales
  • Top countries selling to China include: Japan, United States, Australia, Germany, South Korea
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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 brands and merchants participated in the global shopping event, with consumers spending US$17.8 billion (RMB120.7 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.

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; 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 US$1=RMB6.6282, the central parity rate announced by the People’s Bank of China (PBOC) on November 10, 2017.

All GMV, mobile GMV and other figures presented in this press release are unaudited and subject to adjustments.