China’s 2019 11.11 Global Shopping Festival has once again set new records in terms of GMV. Alibaba Group, the pioneer of the event, raked in $38.4 billion during the event, representing a 26% increase over last year’s total.
The company launched 1 million new products, and their logistics arm, Cainiao, successfully delivered 1.3 billion orders, highlighting the robust scale of Cainiao’s processing capacity. The top five selling countries in cross-border e-commerce in terms of GMV were Japan, the United States, South Korea, Australia and Germany.
Over 200,000 brands participated in Alibaba’s event, while 299 brands surpassed $14.3 million in GMV and the top 15 brands surpassed $143 million. These top brands included international stalwarts such as Apple, Bose, Nike, Estée Lauder, L’Oreal, Muji and others. Alibaba even featured a Taylor Swift live streamed performance to boost the hype surrounding the event.
“Today we showed the world what the future of consumption looks like for brands and consumers,” said Fan Jiang, President of Taobao and Tmall. “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.”
The 11.11 Shopping Festival is not limited to just Alibaba, as other e-commerce platforms like JD.com, Pinduoduo and independent brands like Xiaomi also offer their own discounts through their sales channels.
Chinese consumer electronics titan Xiaomi took advantage of the increased exposure on 11.11 by launching their new smart wearable, the Mi Watch. Total payments received across all of Xiaomi’s channels exceeded $285 million in the first hour and accumulated total sales $870 million during during the event.
Electronics retailer Suning also saw increased sales, generating $160 million in the first minute after midnight, as their overall order volume increased 76% compared to last year. Suning’s sales performance was augmented by their celebrity driven live show broadcast on Hunan TV, featuring icons such as Wang Yibo and Xiao Zhan.