IndianEra > Business > #SinglesDay2019: Alibaba Hits USD 11 Bn on 11.11 Shopping Festival

10 billion sales in a single day!

Yes, you read it right! Chinese eCommerce giant Alibaba did this rare feat on November 10, 2019 on account of the #SinglesDay2019.

And, surprisingly all this happened in just 30 minutes of the event kick-off!

Alibaba Group’s all shopping platforms saw their Gross Merchandise Value (GMV) crossing USD 10 billion in just 29 minutes and 35 seconds, and touched USD 1 billion in the next 1 minute 8 seconds.

Thus, Alibaba reached the 11.11 day’s (#GlobalShoppingFestival2019) milestone with USD 11 billion in revenue.

Chinese eCommerce Alibaba Reached the 11.11 Day

The business giant could surpass its 2016 11.11 mark within the first two hours, when it touched USD 17.24 billion (RMB 120.77).

According to the company, there were more than 5 lakh orders per second at the peak hours of the day, almost 1350 times than the earnings in 2009- the maiden year for #GlobalShoppingFestival.

The event also emerged as the world’s biggest shopping festival and the 11.11 Singles Day 2019 festival celebrations saw special performances by Taylor Swift.

Special Performances by Taylor Swift

In total, more than 2 lakh brands from 78 countries and regions participated this year’s 11.11 shopping festival accounting to more than one million new products on offer.

Share this post
Tagged , , , , , , , , , , ,
Posted by IndianEra, 11/11/2019