Alibaba Doesn't Release Singles Day Sales Results, But Says In Line With Last Year

(RTTNews) - Alibaba Group Holding Ltd. (BABA) did not release full sales results for its annual Singles Day event for the first time ever. But the Chinese online retail giant said the sales results were in line with last year.

Alibaba's last year 11.11 Global Shopping Festival generated RMB 540.3 billion in gross merchandise volume.

According to Alibaba, 2022 11.11 Global Shopping Festival featured more than 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 November 10 2022, 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.

Alibaba stated that 1,009 overseas brands on Tmall Global achieved year-on-year GMV growth of more than 100%.

This year's 11.11 demonstrated a strong growth momentum in categories including sports & outdoors, pet products, collectible toys and jewelry.

More than 300 million consumers have watched livestreaming sessions hosted on Taobao Live since the start of the presale period. During the entire sales period, 62 influencer and merchant-run livestreaming channels surpassed RMB100 million in GMV, and 632 influencer and merchant-run livestreaming channels surpassed RMB10 million in GMV.

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, Alibaba said.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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