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BUSINESS & China - Alibaba Group Generated RMB213.5 Billion (US$30.8 Billion)

 

 

 

Of GMV During the 2018 11.11 Global Shopping Festival - Total GMV increased 27% compared to 2017 - The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness of the value in online shopping

 

SHANGHAI, China - (BUSINESS WIRE)

Sunday, November 11, 2018

Alibaba Group Holding Limited announced that it generated RMB213.5 billion (US$30.8 billion) of gross merchandise volume (GMV) on November 11, 2018, an increase of 27% compared to 2017.

The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness of the value in online shopping. Last year, over 140,000 brands and merchants participated in the global shopping event, with consumers spending RMB168.2 billion during the 24-hour period.

“Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles,” said Daniel Zhang, CEO of Alibaba Group. “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.”

Key highlights from the 2018 11.11 Global Shopping Festival

Total GMV settled through Alipay was RMB213.5 billion (US$30.8 billion), an increase of 27% compared to 2017

Cainiao Network processed more than 1 billion delivery orders

More than 180,000 participating brands

Over 40% of consumers made purchases from international brands

237 brands exceeded RMB100 million in GMV, including leading international brands Apple, Dyson, Kindle, Estée Lauder, L’Oréal, Nestlé, Gap, Nike and Adidas

Top countries selling to China: Japan, United States, South Korea, Australia and Germany

230 countries and regions with completed transactions

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

Alibaba Group’s mission is to make it easy to do business anywhere and the company aims to achieve sustainable growth for 102 years. For fiscal year ended March 2018, the company reported revenues of US$39.9 billion.

© Copyright: National Radio. Any use of these materials, whole or in part, is prohibited unless authorized in writing by National Radio. Contact: nationalradio@yahoo.com All rights reserved.

 

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