China, 11th November: China’s largest e-commerce company, Alibaba Group, announced that it processed a record breaking gross merchandise volume (GMV) of US$30 billion during its “Global Shopping Festival” on 11th November. The transactions were processed through Alipay on Alibaba’s retail marketplaces (1688.com and Alibaba.com). That represents a year-on-year increase of 27%.
According to Alibaba, more than 40% of consumers made purchases from international brands and some 237 brands recorded over RMB 100 million (US$14.4 million) in GMV. Alibaba’s logistics subsidiary, Cainiao Network, processed 1.04 billion delivery orders from Alibaba’s marketplaces, exceeding 1 billion for the first time.