Hangzhou, 11th November: China’s largest e-commerce company, Alibaba Group, announced that it processed a record gross merchandise volume (GMV) through Alipay on Alibaba’s China and international retail marketplaces during its “Global Shopping Festival” on 11th November. The promotion is also known as “Singles Day.” The GMV amounted to RMB 168.2 billion (US$25.3 billion), an impressive year-on-year increase of 39%.
According to Alibaba, mobile GMV accounted for 90% of total GMV, compared to 82% in the previous year. During the Global Shopping Festival, Alipay processed 1.48 billion payment transactions, up 41% over last year and the Cainiao Network processed 812 million delivery orders from Alibaba’s marketplaces.
A total of 225 countries and regions completed cross-border transactions this year. Top source countries selling to Chinese consumers included Japan, the U.S., Australia, Germany and South Korea.