Beijing (PingWest)- Chinese e-commerce giant Alibaba’s Singles’ Day shopping festival has broken records in its 12th year.
The world’s biggest sale event raked in CNY498.2 billion (USD74.1 billion) in sales during the 11-day campaign from November 1 to 11, an increase of 26% from last year’s record high that show a strong recovery and robust consumer health after the Covid-19 pandemic.
Unlike in previous years, the shopping festival has two sales windows this year from November 1 to 3 and Nov.11 that allows merchants to double up on promoting their products to consumer not just once.
During the peak of sales event, more than 583,000 orders were placed each second, demonstrating the capabilities of Alibaba’s underlying technology platform to handle a massive number of tasks.
More than 470 brands including Huawei, Xiaomi and international brands such as Apple, Nike and Adidas, generated more than CNY100 million in GMV on Alibaba’s platforms.
In addition to Tmall, Alibaba’s business unit including Singapore based Lazada Group, which is the largest e-commerce platform in South East Asia, are running its own version of 11.11 shopping festival, aiming to boost consumption in South East Asian regions.
Livestreaming has played an important role in connecting merchants with consumers this year. More than 30 livestreaming channels featured on Taobao Live that each generated more than CNY100 million in gross merchandise volume (GMV).
“The live-streaming e-commerce sector is an emerging trend that possess a huge potential growth in China. For Taobao Live, our goal is to become the leading live-streaming platform in the trillion dollar market, said Yu Feng, head of Taolive at a media event on Wednesday in Hangzhou.
Alibaba’s 11.11 shopping festival began in 2009 from just 27 merchants to participate the event to raise their brand awareness and promote their brands online. The shopping festival evolved and grew rapidly since then, more than 250,000 brands participated in 11.11 shopping festival this year, of which 31,000 are overseas brands.
The shopping festival now is not just a big shopping days for huge discounts on everything from daily necessities to luxury items, but also it has become an annual global entertainment gala.
This year, the gala featured international stars such as U.S. singer Katy Perry, who sang three songs at Alibaba’s 11.11 event via livestream, as well as famous pianist Lang Lang and Chinese pop stars Jackson Yee.