Alibaba's 11.11 Singles Day sales hit US$38.4bil


An employee of Alibaba Group gestures during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 11, 2019. REUTERS/Aly Song

KUALA LUMPUR: Alibaba Group Holding Ltd announced it generated US$38.4 billion (US$1=RM4.15) in gross merchandise volume (GMV) on Nov 11, 2019 -- its ‘11.11 Singles’ Day’ global online shopping extravaganza, an increase of 26 per cent compared with 2018.

Taobao and Tmall President Fan Jiang said the successful event indicated the future of consumption trends for brands and consumers.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

Fajarbaru net profit triples to RM8.42mil in 1Q25
Globetronics Partners with Taiwan's ChipMOS for Integrated Circuit Services
Hap Seng 3Q24 net profit soars nearly fourfold to RM193.11mil
Ringgit rises against US dollar for third consecutive day
KTI Landmark records RM230mil in sales, surpassing 2023 figures
MSM Malaysia’s 3Q net loss widens to RM49.7mil on forex loss
UEM Sunrise on track to hit RM1bil sales target
Perodua teams up with PETRONAS Dagangan and Gentari to improve services and EV support
Karex 1Q net profit tumbles 73.4% to RM1.4mil
DRB-Hicom focuses on digital transformation

Others Also Read