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Alibaba Generates US$30.8 Billion in One Day
Alibaba has reportedly racked up US$30.8 billion of gross merchandise volume (GMV) sales in a single day during its annual 11:11 Global Shopping Festival, with Aussie brands among the bestsellers.
On November 11, Alibaba Group kicked off its much-anticipated Global Shopping event, with the company reportedly increasing its sales for the day by 27 percent, compared to 2017’s event.
“Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles,” said Daniel Zhang, CEO of Alibaba Group.
The Chinese marketplace has pledged a long-term commitment to further globalisation of the e-commerce industry, a fact that is apparent when you look at the business’s cross-border sales over its biggest shopping event of the year. According to a press release issued by the company, 40 percent of Chinese consumers purchased goods from international brands.
Australia was among one of the favourite regions selling into China, coming in at spot number four, behind Japan, the US and Korea.
Australia also made it into the top 10 for imported cross-border brands during the event, with Aussie brand, Swisse taking out the coveted first place. Interestingly, during the first hour of the sale, Alibaba also recorded a staggering increase of 775 percent in sales of Australian lamb.
“Participation from the entire Alibaba ecosystem enabled our brand and merchant partners to engage with consumers like never before. Looking ahead, Alibaba will continue to lead the evolution towards the future digital economy and lifestyle,” Zhang said.
Of the 180,000 brands that participated in the shopping event, 237 exceeded RMB100 million in GMV, including international brands like Apple, Dyson, Nestle, Nike and Adidas. Cainiao Network also processed more than one billion delivery orders, with 230 countries and regions completing successful transactions via Alibaba’s ecosystem on November 11.
Australian retailers are also expected to experience a boost in revenue over the coming days, with homegrown shopping event, Click Frenzy kicking off at 7 pm on Tuesday night. More than 500 Aussie retailers are set to participate in the event, with big names like Myer, Bonds and Rebel Sport all getting in on the action.
This year’s special deals will include $2 GHD straighteners, $4 Beats Headphones and $5 Nintendo Switch Consoles. The 24-hour event is also introducing a new competition, as it launches its search for Australia’s best online shopper. There’s a prize pool of more than $50,000 up-for-grabs.