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HANGZHOU, China--(BUSINESS WIRE)--Nov 11, 2022--
Alibaba Group Holding Limited (NYSE: BABA; HKEX: 9988) today successfully concluded its 14th annual 11.11 Global Shopping Festival (“11.11”) and delivered results in line with last year’s GMV performance despite macro challenges and Covid-related impact.
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Alibaba’s 2022 11.11 Global Shopping Festival facilitated quality growth for participating brands and merchants. (Photo: Business Wire)
This year’s 11.11 featured over 290,000 brands from over 90 countries and regions across 7,000 product categories. In the first four hours of the second check-out window, which started at 8pm on October 31, more than 130 brands surpassed RMB100 million in member-generated GMV. More than 5,600 brands saw their member-generated GMV more than double compared with the first four hours of last year’s second check-out window.
“We thank all our participating merchants and partners of our ecosystem for working with us to deliver another 11.11 Global Shopping Festival that demonstrates a steady, promising growth trajectory. Together, we have witnessed the resilience and vibrancy of China’s consumption sector,” said Chui Xue, President of Industry Development and Operation Center of Taobao and Tmall, Alibaba Group. “Our priority for this 11.11 was to enhance certainty for our merchants’ operation. We are pleased to have helped our participating brands and merchants accumulate new loyal customers during the festival which will serve as a strong foundation for their sustainable operation. We are also encouraged to see an emergence of new consumption trends with huge untapped potential. We will continue to innovate and strengthen our capabilities to provide our merchants with reliable opportunities for long-term growth and make concerted efforts to meet consumers’ evolving needs.”
In its second year running wholly on the cloud, this year's 11.11 Global Shopping Festival has seen improved computing efficiency thanks to high-performance computing and innovative technology deployment. Computing cost per resource unit was reduced by 8% compared to last year from April 1 to November 11. Alibaba Cloud's five hyper-scale data centers across China doubled the amount of clean energy used to support this year's 11.11 compared to last year.
Other highlights from the 2022 11.11 Global Shopping Festival
Note: All times mentioned in this press release refer to Beijing time. Unless otherwise stated, the data points included in this press release are for the entire sales period of the 11.11 Global Shopping Festival, which started October 31, 2022 and ended November 11, 2022. Year-on-year growth rates are compared against the same period in 2021. GMV disclosed in this press release refers to the total value of orders in RMB settled through Alipay on Alibaba's Taobao and Tmall platforms. It is reported on a real-time basis and includes shipping charges paid (where applicable). All GMV and other figures presented in this press release are unaudited and subject to adjustments.
About the 11.11 Global Shopping Festival
The 11.11 Global Shopping Festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness about the value of online shopping. For the latest news and updates on the 2022 11.11 Global Shopping Festival, please visit: https://www.alizila.com/
About Alibaba Group
Alibaba Group’s 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221111005492/en/
CONTACT: Ivy Ke
Alibaba Group
+852 5590 9949
ivy.ke@alibaba-inc.com
Celia Chen
Alibaba Group
+86 13691929481
celia.c@alibaba-inc.com
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SOURCE: Alibaba Group Holding Limited
Copyright Business Wire 2022.
PUB: 11/11/2022 02:25 PM/DISC: 11/11/2022 02:25 PM
http://www.businesswire.com/news/home/20221111005492/en