Alibaba’s Singles Day Event Registers $74B In Sales

Alibaba Group has reported that its 2020 11.11 Global Shopping Festival generated RMB498.2 billion ($74.1 billion) in gross merchandise volume during the 11-day campaign from November 1 to 11, an increase of 26% compared to the same timeframe in 2019.

“Over the past 12 years, innovation has been at the heart of 11.11 and along the way it became a global consumer festival. 11.11 is defined by our consumers, merchants and our partners across the ecosystem, and also a beneficiary of all the support from society,” said Jiang Fan, president of Taobao and Tmall. “We will continue to focus on developing our digital infrastructure in the service of empowering merchants of all sizes to find a path to success in the digital economy.”

Over 470 brands achieved more than RMB100 million in GMV, the company said. The Alibaba digital infrastructure handled 583,000 orders per second during the peak of activity. More than 2.32 billion delivery orders were processed cumulatively over the 11-day period. Livestreaming was key, with over 30 livestreaming channels featured on Taobao Live that each generated more than RMB100 million in GMV, the company said.

Highlights from the 2020 11.11 Global Shopping Festival include that 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. Under Alibaba’s Spring Thunder initiative, 1.2 million merchants and 300,000 factories focused on overseas trade.

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.