Alibaba Generates $30.8 Billion In Just 24 hours

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Alibaba

Chinese e-commerce giant, Alibaba has announced that it generated about $30.8 billion of gross merchandise volume on the occasion of its 11.11 shopping celebration. This was announced yesterday November 11th, 2018 by the company via its official social media platform. The figure represents a 27% increase when compared to the year 2017. Cainiao Network processed more than 1 billion delivery orders were more than 180,000 brands participated during the sale.

Over 40% of these customers were international shopper. 237 brands surpassed RMB100 million in GMV, including notable brands like Apple, Dyson, Kindle, Estée Lauder, L’Oréal, Nestlé, Gap, Nike, and Adidas.

Related: Billionaire Alibaba’s Co-Founder, Jack Ma To Retire In September 2019

Daniel Zhang, CEO of Alibaba Group said:

Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles. Participation from the entire Alibaba ecosystem enabled our brand and merchant partners to engage with consumers like never before. Looking ahead, Alibaba will continue to lead the evolution towards the future digital economy and lifestyle.

Top selling countries to China include Japan, the United States, South Korea, Australia, and Germany. Lazada participated in 11.11 as part of the Alibaba ecosystem, bringing the festival to consumers in Singapore, Malaysia, Thailand, Indonesia, the Philippines, and Vietnam. The 11.11 shopping festival began in 2009 with participation from just 27 merchants.

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