Alibaba generates US$38 billion of GMV on “Singles Day”

Hangzhou, 11th November: The Alibaba Group, the leading e-commerce company in China, announced that the company generated RMB 268.4 billion (US$38.4 billion) of gross merchandise volume (GMV) during its now famous Global Shopping Festival on 11th November 2019. The event is also known as “Singles Day.” The GMV figure grew by 26% compared to the figure in 2018.

According to Alibaba, more than 200,000 brands participated its Global Shopping Festival and about one million new products were launched on 11th November and Alibaba-owned Cainiao Network processed 1.3 billion delivery orders.