Alibaba Group Holding Limited today announced the 2020 11.11 Global Shopping Festival generated RMB498.2 billion (US$74.1 billion) in gross merchandise volume (GMV) during the 11-day campaign from November 1 to 11, an increase of 26% compared to the same timeframe in 2019.
Over 470 brands achieved more than RMB100 million in GMV, showcasing the value creation of digital transformation across the Alibaba Digital Economy.
Cainiao Network processed more than 2.32 billion delivery orders cumulatively over the 11-day period.
Livestreaming has become an indispensable marketing tool, with over 30 livestreaming channels featured on Taobao Live that each generated more than RMB100 million in GMV.
Highlights from the 2020 11.11 Global Shopping Festival
250,000 brands in total participated in 11.11 this year, of which 31,000 are overseas brands. Within these overseas brands, 2,600 participated in 11.11 for the first time.
357 emerging brands became top sellers in their respective subcategories. More than 1,800 emerging brands surpassed their GMV from 11.11 last year and, of these, 94 emerging brands enjoyed sales growth of over 1,000%.
Under Alibaba’s Spring Thunder initiative, 1.2 million merchants and 300,000 factories focused on overseas trade from more than 2,000 industry clusters across China participated in 11.11.
AI customer chatbot handled over 2.1 billion queries during the 11-day period.
The United States was the top country selling to China by GMV. Other top-selling countries to China, in alphabetical order, include: Australia, Canada, France, Germany, Italy, Japan, Korea, New Zealand and UK.
The 11.11 Global Shopping Festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness about the value of online shopping. More than 250,000 brands are participating in this year’s event.
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GMV for the 11.11 Global Shopping Festival is the total value of orders settled through Alipay on Alibaba’s China retail marketplaces, Kaola, Lazada, AliExpress, and New Retail and consumer services platforms from November 1 to November 11, 2020. It is reported on a real-time basis and includes shipping charges paid (where applicable).
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
