Beijing, Nov 12 : Chinese conglomerate Alibaba Group has generated $84.5 billion (540 billion yuan) in gross merchandise volume (GMV) from its annual 11:11 shopping event — an 8.5 per cent increase from last year.Beijing, November 12, 2012 : .The gross merchandise volume (GMV), generated by the Alibaba Group’s annual 11:11 Shopping Event has reached $84.5 billion.This is an 8.5% increase over last year. The ‘11.11 Global Shopping Festival’, that began in 2009 with participation from just 27 merchants, saw more than 290,000 brands participating this year.Since 2009, the ‘11.11 Global Shopping Festival” has seen more than 270,000 brands participate.
“Over the last 12 years, 11.11 has showcased the tremendous consumption power of Chinese consumers and pushed boundaries for the global retail sector,” said Chris Tung, Chief Marketing Officer of Alibaba Group.Chris Tung (Chief Marketing Officer at Alibaba Group) stated that 11.11 was a testament to the immense consumption power of Chinese consumers over the past 12 years and has pushed the boundaries of the global retail industry.
“This year’s festival marks a new chapter for 11.11.This year’s 11.11 festival is a turning point.We believe we must leverage the power of 11.11 to encourage sustainable development and promote inclusiveness to consumers, merchants and partners across our ecosystem,” he said in a statement.”This year’s festival marks a new chapter for 11.11,” he stated in a statement.
Over the last year, tech giants like Alibaba have faced constant scrutiny from the Chinese government.The Chinese government has been constantly monitoring tech companies like Alibaba over the past year.
Earlier this year, Alibaba was fined a record 18.2 billion yuan fine for breaching China’s antitrust regulations and “abusing (its) market dominance”.Alibaba received a record 18.2 million yuan penalty earlier this year for violating China’s antitrust laws and “abusing its market dominance”.
“Innovation and regulation often go hand-in-hand — it’s what ensures the development of a healthy and fair economy,” a company spokesperson told ZDNet on Friday.A company spokesperson said that innovation and regulation are often inseparable.“It’s what ensures the growth of a healthy, fair and sustainable economy,” ZDNet reported on Friday.
“No matter where we operate in the world, we will always comply with all applicable laws and regulations and continue to stay compliant in light of any regulatory changes,” the spokesperson said.The spokesperson stated that “No matter our location in the world we will comply with all applicable laws, regulations, and remain compliant in light any regulatory changes.”
This year marked the largest Singles’ Day shopping festival on Tmall, with a record 290,000 brands participating and more than 14 million types of commodities offering discounts.Tmall’s largest singles’ day shopping event was held this year, featuring a record number of brands and over 14,000,000 commodities at discounted prices.
This was also the greenest Singles’ Day shopping festival on JD.com, which introduced various measures, including developing recyclable packaging, deploying new-energy cargo vans and using photovoltaic power generation in warehousing, to lower carbon emissions and the impact on environment, reports Xinhua news agency.According to Xinhua news agency, this was the most environmentally-friendly Singles Day shopping event on JD.com.It included innovative packaging and new cargo vans.The use of photovoltaic power in warehousing also helped reduce carbon emissions.
Chinese labels are also gaining traction among overseas buyers, with sportswear brand Erke recording sevenfold sales growth to foreign markets via Tmall and Taobao during this year’s campaign.
Chinese brands are also growing in popularity among international buyers.Erke, a sportswear brand, saw sevenfold growth in sales to foreign markets through Tmall and Taobao’s latest campaign.
Like Black Friday two weeks later, Singles’ Day is especially popular in Spain, which has briefly overtaken the United States as the second-largest market for AliExpress’ online sales — behind Russia.As Black Friday was two weeks later in the United States, Singles Day has become a very popular holiday in Spain.
It is now second to Russia for AliExpress online sales #Alibaba #sales #Fest
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