Alibaba Reports Strong Results for the First Sales Window of the 11.11 Global Shopping Festival
November 04 2020 - 2:57PM
Business Wire
Tune in to Alibaba’s Live Broadcast to Learn
How International Brands Are Succeeding During 11.11
Brands and retailers using Alibaba Group Holding Limited (NYSE:
BABA; HKEX: 9988) to reach China’s consumers wrapped up the first
sales period (November 1–3) of this year’s 11.11 Global Shopping
Festival with strong results. To create more opportunities for new
brands and small businesses to participate in Alibaba’s 11.11, this
year’s festival is offering two shopping windows: November 1-3 and
the day of November 11. Highlights from the first shopping window
of this year’s event include:
- Hundreds of millions of consumers flocked to Alibaba’s
marketplaces at 00:00 a.m. on November 1 to shop the 14 million
items on offer.
- Over 100 brands, including Nike, Adidas, Apple, L’Oréal, Estée
Lauder and Lancôme, achieved RMB100 million in gross merchandise
volume (GMV) only 111 minutes into the first sales period.
- Beauty products – always a popular category during the 11.11
festival – generated more than RMB10 billion in GMV and exceeded
150% year-over-year sales growth in the first hour of the event.
Estée Lauder’s Tmall flagship store was the first to surpass RMB1
billion in sales during 11.11. 34 new cutting-edge brands in the
beauty category also achieved more than RMB10 million in sales in a
single day.
- Over 1,800 new brands (brands that have been on Tmall for less
than 3 years) surpassed their respective last year's GMV on
November 1. Among them, 94 brands have already achieved 1,000% YoY
growth. The number of new products debuting on Alibaba’s B2C
platform Tmall alone will exceed 2 million this year, twice the
number of new products from last year, clearly illustrating how
important the festival is for capturing consumer attention and
driving engagement.
- The first delivery of an item purchased during the shopping
event was for mosquito repellent. The delivery occurred 11 minutes
after midnight to a consumer in Chengdu, Sichuan Province, who
placed the order via Ele.me, Alibaba’s on-demand delivery
platform.
- Nearly 200 luxury brands joined this year’s 11.11 festival;
among them Montblanc, Piaget, IWC Schaffhausen are participating
for the first time. Luxury brand Cartier hosted its first jewelry
show on Taobao Live, unveiling more than 400 timepieces and jewelry
items, including a necklace valued at RMB90 million (USD28.3
million). Their livestream attracted 770,000 viewers in just two
hours.
- Positive results from the 11.11 presale period show robust and
continuously growing demand for imported goods. October 21, the
first day of presales, Tmall Global’s GMV increased more than 90%
year on year.
- Uncle Bud’s, one of Alibaba’s US Pitch Fest brand winners, is
bringing its hemp and CBD products to Chinese consumers through
their newly opened Tmall Global flagship store. Their brand
ambassador Earvin “Magic” Johnson will join many other
international brands and celebrities to do a livestreaming session
on Tmall Global on November 7. Other Pitch Fest brands including
C.O. Bigelow, Pipette and Lab to Beauty are also launching on Tmall
Global in time for 11.11.
The results from the first 11.11 shopping window this year
indicate a solid rebound of consumer spending in China,
demonstrating the importance of the opportunity it presents for
international brands and small businesses.
To help international audiences better understand consumer
trends and the next wave of groundbreaking retail innovation, and
to show how international brands are entering and succeeding in the
Chinese market, Alibaba is hosting a live virtual event called
“Understanding 11.11: Alibaba’s Mega Shopping Festival.”
The 45-minute live broadcast – a first for the company – will
air at 10:30 a.m. ET (7:30 a.m. PT) on November 11. It is timed to
coincide with the last 30 minutes of the 11.11 festival in China
(11:30 p.m. November 11 to 12:00 a.m. November 12, China time) and
the 15-minute period immediately following, when Alibaba will be
sharing live results from the festival. The broadcast will
feature:
- Interviews with Alibaba Executive Vice Chairman Joseph Tsai and
President Michael Evans.
- Founders and CEOs of iconic global brands such as DVF, Fender
and BISSELL talking about what it takes to succeed in the Chinese
market.
- American small businesses that participated in 11.11 for the
first time this year and the lessons they learned along the
way.
- One of China’s hottest livestreamers on how and why
livestreaming, a powerful marketing and brand-building tool, has
taken the e-commerce market by storm in China.
- LIVE results from 11.11 and exclusive behind-the-scenes footage
that shows how Alibaba pulls off the world’s largest shopping
festival.
To RSVP and register to view the live broadcast program, please
click here. For additional content, please follow Alibaba Group’s
official Twitter account or visit the 11.11 Media Resources page on
Alibaba’s corporate news site, Alizila, which has more background,
fact sheets and content related to this year’s 11.11 Global
Shopping Festival.
About the 11.11 Global Shopping Festival
The 11.11 Global Shopping Festival began in 2009 with just 27
merchant participants. The event was designed to raise merchant and
consumer awareness of the value of online shopping. More than
250,000 brands are participating in this year’s event. For the
latest news and updates on the 2020 11.11 Global Shopping Festival,
please visit www.alizila.com.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business
anywhere. The company aims to build the future infrastructure of
commerce. It envisions that its customers will meet, work and live
at Alibaba and that it will be a good company that lasts for 102
years.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201104005638/en/
Media Contacts Brion Tingler Alibaba Group +1-9175281992
brion.tingler@alibaba-inc.com
Candice Huang Alibaba Group +1-2027167446
candicehuang@alibaba-inc.com
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