“Today we showed the world what the future of consumption looks like for brands and consumers. 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”, commented Fan Jiang, President of Taobao and Tmall.

The Hangzhou-based group Alibaba announced that it generated 268.4 billion renminbi (RMB) (38.4 billion US dollars) of gross merchandise volume (GMV) on 2019 Singles' Day, an increase of 26% compared to 2018.

- Total GMV settled through Alipay was 268.4 billion RMB (38.4 billion US dollars), up by 26% year-on-year;

- More than 20 0000 participating brands;
- 1 million new products launched for 11.11;
- Top five countries selling to China through cross-border platforms by GMV: Japan, United States, South Korea, Australia and Germany;
- 299 brands surpassed the 100 million RMB threshold (14.3 million US dollars) and 15 of those brands surpassed 1 billion RMB (143.0 million US dollars) in GMV; top brands included: Apple, Bose, Estée Lauder, Gap, H&M, L’Oréal, Levi’s, MUJI, Nestlé, Nike, Philips, The North Face, Under Armour, Uniqlo.

President of Taobao and Tmall Fan Jiang at 2019 11.11 Global Shopping Festival

The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness about the value of online shopping. Ten years have passed, and more than 200 000 brands are participating in this year’s event.

GMV for the 11.11 Global Shopping Festival is the total value of orders settled through Alipay on Alibaba's China retail marketplaces, Lazada, AliExpress, Kaola and New Retail and consumer services platforms within a 24-hour period on the 11th of November. It is reported on a real-time basis and includes shipping charges paid (where applicable). All translations of RMB into US dollars were made using an exchange rate of 1 US Dollar = 6.9945 RMB (central parity rate announced by the People’s Bank of China (PBOC) on the 8^th of November 2019. GMV are unaudited and subject to adjustments.