Happi Staff11.11.20
Call it a singular sensation. The 12th annual 11.11 (Singles Day) Global Shopping Festival, which generated RMB498.2 billion ($74.1 billion) of gross merchandise volume (GMV). The US was the top international market for brands selling to China, contributing more than $5.4 billion of GMV. This year, Alibaba extended the festival from 24-hours to an 11-day campaign with two windows to shop for promotional items.
“This year’s 11.11 demonstrates the opportunity of the Chinese consumer market for brands, retailers, small businesses and farmers around the world,” said Michael Evans, president, Alibaba Group. “Today’s businesses need both a China strategy and a digital strategy to succeed, particularly in the face of the challenges posed by the pandemic. Alibaba is focused on helping brands around the world both tap into the China opportunity and digitize their operations—helping them build growth, resiliency and a direct customer connection.”
According to organizers, this year’s 11.11 was unlike any other and demonstrated the incredible connection between Chinese consumers and merchants from around the world. Here are a few highlights from the 2020 festival:
“This year’s 11.11 demonstrates the opportunity of the Chinese consumer market for brands, retailers, small businesses and farmers around the world,” said Michael Evans, president, Alibaba Group. “Today’s businesses need both a China strategy and a digital strategy to succeed, particularly in the face of the challenges posed by the pandemic. Alibaba is focused on helping brands around the world both tap into the China opportunity and digitize their operations—helping them build growth, resiliency and a direct customer connection.”
According to organizers, this year’s 11.11 was unlike any other and demonstrated the incredible connection between Chinese consumers and merchants from around the world. Here are a few highlights from the 2020 festival:
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Total GMV from November 1-11 was RMB498.2 billion (US$74.1 billion)
- The United States was the top country selling to China by GMV, with GMV from US brands totaling RMB36.2 billion (US$5.4 billion).
- Other top countries included: Australia, Canada, France, Germany, Italy, Japan, Korea, New Zealand and UK (alphabetical order).
- Approximately 800 million consumers participated in 11.11 this year.
- More than 250,000 brands participated in this year’s festival, including more than 31,000 overseas brands. 2,600 brands participated in 11.11 for the first time.
- Over 470 brands surpassed RMB100 million (US$14.9 million) in GMV, including Apple, L’Oréal, Esteé Lauder, Nike, Lancôme, Adidas.
- 357 new brands became top sellers in their respective subcategories. More than 1,800 new brands surpassed their GMV from 11.11 last year and, of these, 94 new brands enjoyed sales growth of over 1,000%.
- Cainiao Network processed 2.32 billion delivery orders, close to the total number of packages generated in China in the entire year 2010.
- Number of orders created at peak was 583,000 orders per second.