Alibaba Group Generated US$9.3 Billion in GMV on 11.11 Shopping Festival
Alibaba Group Holding Limited (NYSE: BABA) today announced that US$9.3 billion, or RMB 57.1 billion, of gross merchandise volume ("GMV") was settled through Alipay on Alibaba's China and international retail marketplaces on November 11, 2014. Mobile GMV settled through Alipay accounted for 42.6% of total GMV. In 2013, total GMV settled through Alipay on our China retail marketplaceswas US$5.8 billion (RMB 36.2 billion).
The 11.11 Shopping Festival ("11.11") began in 2009 with 27 merchant participants as an event for Tmall.com merchants and consumers to raise awareness of the value in online shopping. This year, more than 27,000 brands and merchants participated in the event, including Costco, Muji, Desigual, ASOS, and The North Face. By expanding globally with the participation of AliExpress and Tmall Global, consumers from over 217countries and regions were able to select from more than one million products through online storefronts and e-commerce websites.
Available video includes highlights of the shopping festival and b-roll.