Alibaba Reports Strong Results for the First Sales Window of the 11.11 Global Shopping Festival
Brands and retailers using Alibaba Group Holding Limited (NYSE: BABA; HKEX: 9988) to reach Chinas consumers wrapped up the first sales period (November 1“3) of this years 11.11 Global Shopping Festival with strong results. To create more opportunities for new brands and small businesses to participate in Alibabas 11.11, this years festival is offering two shopping windows: November 1-3 and the day of November 11. Highlights from the first shopping window of this years event include:
- Hundreds of millions of consumers flocked to Alibabas marketplaces at 00:00 a.m. on November 1 to shop the 14 million items on offer.
- Over 100 brands, including Nike, Adidas, Apple, LOral, Este Lauder and Lanc´me, achieved RMB100 million in gross merchandise volume (GMV) only 111 minutes into the first sales period.
- Beauty products “ always a popular category during the 11.11 festival “ generated more than RMB10 billion in GMV and exceeded 150% year-over-year sales growth in the first hour of the event. Este Lauders Tmall flagship store was the first to surpass RMB1 billion in sales during 11.11. 34 new cutting-edge brands in the beauty category also achieved more than RMB10 million in sales in a single day.
- Over 1,800 new brands (brands that have been on Tmall for less than 3 years) surpassed their respective last year’s GMV on November 1. Among them, 94 brands have already achieved 1,000% YoY growth. The number of new products debuting on Alibabas B2C platform Tmall alone will exceed 2 million this year, twice the number of new products from last year, clearly illustrating how important the festival is for capturing consumer attention and driving engagement.
- The first delivery of an item purchased during the shopping event was for mosquito repellent. The delivery occurred 11 minutes after midnight to a consumer in Chengdu, Sichuan Province, who placed the order via Ele.me, Alibabas on-demand delivery platform.
- Nearly 200 luxury brands joined this years 11.11 festival; among them Montblanc, Piaget, IWC Schaffhausen are participating for the first time. Luxury brand Cartier hosted its first jewelry show on Taobao Live, unveiling more than 400 timepieces and jewelry items, including a necklace valued at RMB90 million (USD28.3 million). Their livestream attracted 770,000 viewers in just two hours.
- Positive results from the 11.11 presale period show robust and continuously growing demand for imported goods. October 21, the first day of presales, Tmall Globals GMV increased more than 90% year on year.
- Uncle Buds, one of Alibabas US Pitch Fest brand winners, is bringing its hemp and CBD products to Chinese consumers through their newly opened Tmall Global flagship store. Their brand ambassador Earvin Magic Johnson will join many other international brands and celebrities to do a livestreaming session on Tmall Global on November 7. Other Pitch Fest brands including C.O. Bigelow, Pipette and Lab to Beauty are also launching on Tmall Global in time for 11.11.
The results from the first 11.11 shopping window this year indicate a solid rebound of consumer spending in China, demonstrating the importance of the opportunity it presents for international brands and small businesses.
To help international audiences better understand consumer trends and the next wave of groundbreaking retail innovation, and to show how international brands are entering and succeeding in the Chinese market, Alibaba is hosting a live virtual event called Understanding 11.11: Alibabas Mega Shopping Festival.
The 45-minute live broadcast “ a first for the company “ will air at 10:30 a.m. ET (7:30 a.m. PT) on November 11. It is timed to coincide with the last 30 minutes of the 11.11 festival in China (11:30 p.m. November 11 to 12:00 a.m. November 12, China time) and the 15-minute period immediately following, when Alibaba will be sharing live results from the festival. The broadcast will feature:
- Interviews with Alibaba Executive Vice Chairman Joseph Tsai and President Michael Evans.
- Founders and CEOs of iconic global brands such as DVF, Fender and BISSELL talking about what it takes to succeed in the Chinese market.
- American small businesses that participated in 11.11 for the first time this year and the lessons they learned along the way.
- One of Chinas hottest livestreamers on how and why livestreaming, a powerful marketing and brand-building tool, has taken the e-commerce market by storm in China.
- LIVE results from 11.11 and exclusive behind-the-scenes footage that shows how Alibaba pulls off the worlds largest shopping festival.
To RSVP and register to view the live broadcast program, please click here. For additional content, please follow Alibaba Groups official Twitter account or visit the 11.11 Media Resources page on Alibabas corporate news site, Alizila, which has more background, fact sheets and content related to this years 11.11 Global Shopping Festival.
About the 11.11 Global Shopping Festival
The 11.11 Global Shopping Festival began in 2009 with just 27 merchant participants. The event was designed to raise merchant and consumer awareness of the value of online shopping. More than 250,000 brands are participating in this years event. For the latest news and updates on the 2020 11.11 Global Shopping Festival, please visit www.alizila.com.
About Alibaba Group
Alibaba Groups mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba and that it will be a good company that lasts for 102 years.