Alibaba 11.11 sales hit us$10b in first hour
Published on: Monday, November 12, 2018
SHANGHAI: The Alibaba 11.11 Global Shopping Festival 2018 hits 69.3 billion renminbi (US$10 billion) in Gross Merchandise Volume (GMV) through Alipay in just one hour and 48 seconds.The group announced that this surpassed its 2017 GMV which was recorded at 168.2 billion renminbi (1 yuan/renminbi=RM0.60).The 24-hour online shopping event dubbed the Singles' Day, also set a new world record as 6.9 billion renminbi of total GMV was settled through Alipay in the first one minute and 25 seconds after kicking off at 12 am.
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The global shopping festival will see consumers around the world enjoying promotions and offers from more than 180,000 brands from China and worldwide which are participating in the shopping event.Chief Executive Officer, Daniel Zhang, said the 10th anniversary proved to be bigger than ever in terms of scale and reach.This year, Alibaba added an interactive element "Play Now" where audience can further engage with brands by voting in the poll for the most popular outfits in the show.The four-hour show features the latest collection from over 60 international and Chinese brands and more than 1,000 debut products.
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