Alibaba looks forward for record Singles' Day sales on November 11

Alonzo Simpson
November 11, 2019

The Alibaba Group's various shopping platforms' total gross merchandise value (GMV) exceeded Dollars 10 billion in only 29 minutes and 45 seconds, while it took just 1 minute and 8 seconds to achieve a total GMV of USD 1 billion, after the Chinese e-commerce behemoth kicked off it's 11.11 Global Shopping Festival.

November 11 originated as a student holiday celebrating being single - sort of a counter-balance to Valentine's Day.

Huawei Technologies, China's largest smartphone brand, said sales on its self-run Huawei online mall took only 1 minute to exceed the full day November 11 sales recorded previous year, while its budget brand Honor was the No 1 seller on all three major e-commerce platforms, Tmall, JD.com and Suning.com, in the first two hours.

What economic slowdown? Alibaba Group Holding Ltd., the world's largest retailer and e-commerce company, reported a stunning gross merchandise volume (GMV) of $13 billion (CNY91.2 billion) during the first official hour of China's Singles' Day - the world's largest offline and online shopping day - that launched Monday morning, Beijing time. Last year, an estimated 1 billion packages shipped as a result of "Singles Day" purchases, according to Reuters.

"This year we will be stimulating consumption demand and supporting lifestyle upgrades in China by supporting lifestyle upgrades in China by supplying all new brands and products and we are excited to see how large and small Australian companies engage with consumers".

Alibaba began promoting Singles' Day as another day for love in 2009.

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The $486bn Chinese retail juggernaut kicked off this year's 24-hour shopping fest with performances by American pop star Taylor Swift and local celebrities like Asian pop icon GEM, televised from Shanghai.

"This year's Singles' Day will have many many new records", Alvin Liu, General Manager Tmall Global Import Export said.

Alibaba anticipates 500 million shoppers will take part in the 11.11 event this year, up from about 100 million recorded last year. Besides Alibaba's Tmall and the brands' own platforms, rival sites such as JD.com, Suning.com and Pinduoduo are running their own Singles' Day campaigns.

Another online retailer, JD.com JD.O , also announced it had cut back on adhesive tape and paper used at warehouses, besides adopting more recyclable materials.

Alibaba launched its ore-orders October 21.

This chart shows Alibaba's GMV on Singles' Day vs. US ecommerce sales on Thanksgiving weekend.

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