Alibaba hits 10 Billion in sales on Singles Day 11:11
Hangzhou (China), November 11: E-commerce largest Alibaba’s Singles’ Day sales on Mon hit USD ten billion in about half-hour of the event going live. The Alibaba Group’s numerous shopping platforms’ total gross merchandise worth (GMV) exceeded USD ten billion in just twenty nine minutes and forty five seconds, whereas it took about one minute and eight seconds to attain a total GMV of USD one billion, after the Chinese e-commerce behemoth launched it’s 11.11 global shopping festival.
Within the initial 2 hours, the entire GMV exceeded 17.24 billion USD, surpassing the entire GMV of 2016 11.11. during the initial fourteen hours and half, the entire GMV for Alibaba global shopping festival stood at USD 28.63 billion. The sales began at 0000 hours on Mon as per Chinese time. a number of the top countries selling to China by GMV like Japan, the USA, South Korea, Australia, Germany, UK, and France.
According to Alibaba, the amount of orders created at the height of 2019 11.11 global shopping festival reached 5,44,000 orders per second, which is 1,360 times that of the highest during the competition in 2009. The shopping festival, sometimes referred to as Double Eleven, closes at midnight. Talking of the evolution of the 11.11 global shopping festival, Chris Tung CMO of Alibaba group said the event has evolved from a promotional event into a worldwide event. Its a platform that began to support brands from the globe as well as small and medium enterprises to interact with their on-line customers, Tung said. “As it gets larger and larger it becomes better for brands to try to engage with their customers and that I suppose for the shoppers also the advantages have evolved,” Tung told reporters here.
The event which is also known and called Singles’ Day owing to its date, 11/11 (November 11) consists of 4 ‘ones’, representing four singles, which has emerged as the world’s biggest shopping festival. Last year, it raked in a record USD 30.8 billion in GMV, eclipsing the Cyber Monday sales of USD 7.9 billion and Black Friday sales at USD 6.22 billion. The 11.11 world shopping festival Gala Celebration saw a performance by Grammy Award-winning singer-songwriter Taylor Swift and several different international and local celebrities. over 2 hundred thousand brands from seventy-eight countries and regions participated in 11.11 this year, with a million new merchandise on sales. The event began in 2009 with a total sum of USD 7.8 million in GMV.