Alibaba’s 11.11 GMV hits $17.8bn

Alibaba has announced that RMB120.7bn (US$17.8bn) of gross merchandise volume (GMV) was settled through Alipay on Alibaba’s China and international retail marketplaces on 11 November. The 11th of November  – 11.11 or Singles Day – is Alibaba’s annual online shopping festival.

Commenting on this year’s 11.11, Daniel Zhang, chief executive officer of Alibaba Group, said: “From the kick-off of warm-up activities to last night’s countdown gala and all the way through the 24-hour global shopping festival itself, we’ve seen unprecedented engagement between consumers and merchants. 11.11 showcased how online and offline retail will be reinvented to offer brand new shopping experiences to our hundreds of millions of mobile, digitally savvy active users.”