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Alibaba generates $38.4 bn GMV at Global Shopping Festival

12
Nov '19
Pic: Alibaba Group
Pic: Alibaba Group
China’s Alibaba Group generated $38.4 billion of gross merchandise volume (GMV) on November 11 at the 11.11 Global Shopping Festival in Hangzhou—an increase of 26 per cent compared to the 2018 festival, the company claimed in a statement. With more than 200,000 participating brands this year, a million new products were launched, it said.

The group’s Cainiao Smart Logistics Network Limited processed 1.3 billion delivery orders on that day.

“Today we showed the world what the future of consumption looks like for brands and consumers,” said Fan Jiang, president of online shopping websites Taobao and Tmall, both owned by the group.

“We are meeting the growing demand of Chinese consumers and helping them upgrade their lifestyles, while introducing new users to our digital economy from across China and around the world,” he said.

Top five countries selling to China through Alibaba’s cross-border platforms by GMV are Japan, the United States, South Korea, Australia and Germany.

Top brands at the festival included Apple, Bose, Estée Lauder, Gap, H&M, L’Oréal, Levi’s, MUJI, Nestlé, Nike, Philips, The North Face, Under Armour and Uniqlo.

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.

Fibre2Fashion News Desk (DS)


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