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Alibaba Group Marks 39% Rise In GMV In 11.11. Global Sale Event This Year With Sale Revenue Of US$25.3 Billion

Alibaba Group Marks 39% Rise In GMV In 11.11. Global Sale Event This Year With Sale Revenue Of US$25.3 Billion
Marking an average increase of 39% in comparison to the gross merchandise volume (GMV) settled in 2016, Alibaba Group Holding Limited settled US$25.3 billion (RMB168.2 billion) of (GMV) through Alipay on November 11, 2017, the company announced. More than 90 percent of the total GMV was settled through mobile GMV of Alipay.
“More than US$25 billion of GMV in one day is not just a sales figure,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “It represents the aspiration for quality consumption of the Chinese consumer, and it reflects how merchants and consumers alike have now fully embraced the integration of online and offline retail.”
The key highlights from this Global Shopping Festival reflected the company’s economy at scale. Last year, settlement through Alipay accounted for 82 percent of the total mobile GMV settlement compared to 90 percent this year. There were more than 140,000 brands and merchants who participated in the sale. While processing 256,000 transactions per second at peak, the total payment transactions processed through Alipay was 1.48 billion. At its peak, 325,000 orders per second transactions were processed through Alibaba Cloud. On the other hand, 812 million total delivery orders were processed by Cainiao Network. 12 minutes and 18 seconds past midnight was the time of the first delivery. 
The sale also denoted the power of globalization and the Chinese consumer. The Chinese consumers had options from 60,000 international brands and merchants. Transactions were completed from 225 countries and regions. While 6 merchants – each of whom sold more than RMB1 billion (US$150.9 million), there were 17 merchants who sold more than RMB500 million (US$75.4 million) and 167 merchants who sold more than RMB100 million (US$15.1 million) each. Merchants from Japan, United States, Australia, Germany and South Korea were among the top countries selling to China.
The Alibaba Group has a mission of making it easy for merchants to do business anywhere. With the aim of building the future infrastructure of commerce, Alibaba hopes to last for at least 102 years and to become a market place where customers will meet, work and live.
Starting off with the aim of raising of awareness among both merchants and consumers of about the value of online shopping, the 11.11 shopping festival was first started in 2009. The first year saw only 27 merchants participating in the event. Its growth in popularity and volume can be gauged form the fact that in the last year’s shopping event, there were nearly 100,000 brands and merchants who had participate in it. And the total volume of money spent by the consumers in the 24-hour period last year was US$17.8 billion.

Christopher J. Mitchell

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