Taobao and Tmall Group, Alibaba (BABA) Group’s China commerce retail business, announced that it achieved “robust growth” in Gross Merchandise Volume, or “GMV,” and “a record number of active buyers” during its 16th annual 11.11 Shopping Festival. “Consumer participation in this year’s 11.11 reached a historic high, underscoring the impact of our ongoing efforts to enhance the consumer experience and setting the industry benchmark for business operating environment for merchants. We are pleased to see that 88VIP members, who have the greatest consumption power on our platform, served as a key growth driver for brands during the event, while the enthusiasm shown by the younger generation of consumers was also highly encouraging. These successes strengthen our commitment to continuously invest in user experience, and we remain confident in delivering sustainable growth for brands and merchants over the long term,” said Bo Liu, Vice President of Alibaba Group and President of Tmall.
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