Alibaba Sells ¥372.3 Billion in Lead-up to Singles' Day

By Ryan Gandolfo, November 11, 2020

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Alibaba’s 11.11 Global Shopping Festival registered more than RMB372.3 billion in total gross merchandise volume (GMV) in the first 10 days and 30 minutes of its extended shopping event.

Wednesday, November 11 is considered the ‘second wave’ of Singles’ Day, with the first wave having taken place from November 1-3.

This year was certainly a big one for participating brands. Taobao’s official Weibo account posted that 342 brands had surpassed RMB100 million in GMV by 12.35am on Wednesday. These brands include Apple, L’Oreal, Haier, Estee Lauder, Nike, Huawei, Midea, Lancome, Xiaomi and Adidas, according to Alizila, Alibaba’s press platform.

Dianshang Bao reported that the most popular Chinese brands during Double 11 are Xiaomi, Huawei, Midea, Nan Ji Ren and Haier. Meanwhile, the top foreign brands winning over Chinese consumers are Japanese cosmetics brand Ya-Man, German powdered milk brand Aptamil, Japanese household goods brand Kao, Australian vitamin and supplement brand Swisse and Japanese personal care brand Shiseido.

The most popular export goods include mobile phones, dresses, facial care masks, pants and sweatshirts, while vitamin supplements and baby formula were among the most demanded import goods, as cited by DBS.

This year, folks in Shanghai spent the largest sum of money during the event, followed by Beijing, Hangzhou, Shenzhen and Guangzhou.

Since Double 11 has become a global shopping festival, there’s been an uptick in consumer purchases from overseas. As of 9am, the top three countries buying from China by GMV included the US, Russia and France.

But Chinese consumers still play a vital role in turning this shopping event into what it’s become today.

“This shows the strength of China’s domestic consumer market and the big potential for China’s market development. With the pandemic raging around the world and the economies of many countries and regions experiencing a downturn, China has demonstrated to the world its strength in a single day of transactions. The speed of China’s economic recovery and growth is simply amazing,” posted a popular Jiangsu-based internet and tech blogger on Weibo in response to Alibaba’s Singles’ Day GMV.

And of course, there’s always the question of how much consumers in China spent during Double 11. According to a Weibo poll by Sina Entertainment, nearly a quarter of respondents spent between RMB1,000-3,000, while 4% spent RMB10,000 or more during the event. Only 14% of respondents said they didn’t make a single purchase.

As for Tmall’s Singles’ Day Gala, Katy Perry put on a virtual performance, singing three of her hit songs: ‘Never Really Over,’ ‘Not the End of the World’ and ‘Roar.’

Check out part of her performance in the video below (VPN off):

READ MORE: 11 Things You Need to Know About Singles' Day

[Cover image via @电商报/Weibo]

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