Alibaba Group announced that its “2020 11.11 Global Shopping Festival” generated a total of $74.1 billion USD in gross merchandise volume (GMV) during this years 11-day campaign from November 1 to 11, an increase of 26% compared to the same timeframe in 2019.
Jiang Fan, President of Taobao and Tmall said, “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. 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.”
Key statistics from this year’s festival:
• 250,000 brands participated in 11.11 this year, including 31,000 overseas brands. Within the overseas brands, 2,600 participated in 11.11 for the first time
• More than 470 brands that participated in the festival achieved $15 million USD (or more) in Gross Merchandize Value (GMV)
• Livestreaming has become an indispensable marketing tool, with over 30 livestreaming channels featured on Taobao Live generating more than $15 million USD in GMV
• 1.2 million Chinese merchants and 300,000 Chinese factories focused on overseas trade from more than 2,000 industry clusters across China also participated in the festival
• At the peak of activity, Alibaba’s digital infrastructure handled 583,000 orders per second
• Alibaba’s AI customer chatbot handled 2.1 billion queries during the 11-day period
|The growth of Alibaba’s 11.11 “Singles” Day” festival since it started in 2009 / Chart from Statista|
Alibaba launched the ‘Singles Day” – 11.11 Global Shopping Festival in 2009 and that year only 27 merchants participated. Since that time, the 11.11 Global Shopping Festival has become the largest event of its kind in the world.