Alibaba's 11.11 global shopping festival exceeds 372.3 billion renminbi in 30 mins

By NST Business

November 11, 2020 @ 12:11pm

KUALA LUMPUR: The second sales period of Alibaba Group's Alibaba 2020 11.11 Global Shopping Festival kicked off at midnight on November 11.

This year's 11.11 takes place over 11 days.

Alibaba said as of 00:30am on November 11, the total gross merchandise volume (GMV) of the 11-day campaign had surpassed 372.3 billion renminbi.

"Alibaba has been able to enable a strong rebound for 250,000 merchants following the impact of the pandemic in China. A record peak performance of 583,000 orders per second, showcasing the scalability and strength of Alibaba's digital infrastructure," the group said in a statement today.

The global campaign comes against the backdrop of China's continued economic and retail sentiment recovery.

Alibaba said this year's campaign presented new opportunities for merchants and was set to revive consumption more widely in society.

"For Alibaba, 11.11 is a key event to raise the bar and strengthen its infrastructure services, as well as providing real scenarios for audition of new capabilities. Every year brands, merchants, consumers and ecosystem partners across Alibaba's digital economy come together in the pursuit of new heights," it added.