Alibaba Group Generated RMB268.4 Billion (US$38.4 Billion) of GMV During the 2019 11.11 Global Shopping Festival
HANGZHOU, China--(BUSINESS WIRE)--Nov 11, 2019--
Alibaba Group Holding Limited (NYSE: BABA) announced that it generated RMB268.4 billion (US$38.4 billion) of gross merchandise volume (GMV) on November 11, 2019, an increase of 26% compared to 2018.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191111005576/en/
Fan Jiang, President of Taobao and Tmall, at the 2019 11.11 Global Shopping Festival (Photo: Business Wire)
“Today we showed the world what the future of consumption looks like for brands and consumers,” said Fan Jiang, President of Taobao and Tmall. “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.”
Highlights from the 2019 11.11 Global Shopping Festival
For additional content from the event, please follow the Alibaba Group official Twitter account at www.twitter.com/AlibabaGroup, or visit Alibaba’s corporate news site Alizila for results, videos, fact sheets, b-roll and other content related to this year’s 11.11.
About the 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. More than 200,000 brands are participating in this year’s event. For the latest news and updates on the 2019 11.11 Global Shopping Festival, please visit: https://alizi.la/2019-11-11.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.
|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 November 11. It is reported on a real-time basis and includes shipping charges paid (where applicable). Alibaba Group’s operating results disclosed in this press release are denominated in RMB; year-over-year comparisons and growth rates are calculated on the basis of RMB amounts and are not affected by foreign exchange rate fluctuations. All translations of RMB into US$ are made at US$1=RMB6.9945, the central parity rate announced by the People’s Bank of China (PBOC) on November 8, 2019. All GMV and other figures presented in this press release are unaudited and subject to adjustments.|
View source version on businesswire.com:https://www.businesswire.com/news/home/20191111005576/en/
+852 5474 3262
+86 178 5741 1742
+1 917 528 1992
+1 515 864 1116
+44 (0) 20 7395 8330
+44 (0) 75 3424 7780
KEYWORD: CHINA ASIA PACIFIC
INDUSTRY KEYWORD: RETAIL ONLINE RETAIL SPECIALTY OTHER RETAIL
SOURCE: Alibaba Group Holding Limited
Copyright Business Wire 2019.
PUB: 11/11/2019 01:57 PM/DISC: 11/11/2019 01:57 PM