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Sales performances of Double eleven

2019-11-18 16:43:03

It took just 96 seconds for Alibaba Group to net the 10 billion yuan ($1.43 billion) worth of gross merchandise volume at midnight of Nov 11 as the internet conglomerate takes the annual shopping bonanza into its second decade.

 

Alibaba said more than 200,000 brands are participating in the 11th Singles Day gala, with 1 million new products being offered and more than 500 million users forecast to spend, 100 million more than last year. It added that the estimated consumer savings from brand and platform promotions and coupons could reach 50 billion yuan.

More than 64 brands achieved over 100 million yuan in gross merchandise volume in the pre-order phase from Oct 21, which was twice the number of brands compared to last year, the company said.

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