Alibaba's 11.11 festival shatters record

Alibaba's 11.11 festival shatters record

Alibaba says sales up 25.7% from last year's event

Alibaba's 11.11 global shopping festival set a record on Monday with the equivalent of 1.1 trillion baht generated throughout the 24-hour event, whipped up by strong demand in the Chinese market despite an economic slowdown.

The amount was the largest since the Chinese e-commerce giant launched the campaign 10 years ago.

This year's gross merchandise volume (GMV) was up 25.7% from last year's 213.5 billion yuan, slightly below the 27% growth logged in 2017.

This year saw 1.29 billion orders placed, up 59% from last year's 812 million.

According to Alibaba, the top 10 countries selling to China by GMV were Japan, the US, South Korea, Australia, Germany, France, Britain, New Zealand, Italy and Canada.

The top 10 imported brands by Chinese customers were Ya-Man, Swisse, Kao, AHC, Bio Island, Aptamil, Moony, A 2, Elta MD and Childlife.

Food supplements topped the imported products bought by Chinese consumers, followed by facial masks, infant and toddler milk powder, make-up, facial beauty tools, skincare sets, serums, infant and toddler nutrient products, diapers, and face wash.

"We are meeting the growing demand of Chinese consumers and helping them upgrade their lifestyles, while introducing new users to our digital economy from across China and around the world," said Fan Jiang, president of Taobao and Tmall under Alibaba.

E-commerce in China accounts for 18% of total retail business, supported by powerful mobile internet, logistics infrastructure and prompt payment technology.

$200bn goal

"Alibaba will help import international goods with a goal of US$200 billion within five years, which increases cross-border e-commerce opportunity," Alvin Liu, general manager of Tmall global imports and exports under Alibaba, said at a press conference in Hangzhou.

Alibaba serves as a "Bridge to China" player for international brands and merchants looking to tap the Chinese market, Mr Liu said.

He said many youngsters in China have travelled abroad, making them familiar with international brands and instilling a taste for quality products rather than a focus on low prices.

Based on Monday's campaign, Chinese youngsters wanted limited edition products, those with original designs, skin care products and healthy snacks, Mr Liu said.

Under the 11.11 campaign, Alibaba's online marketplace Tmall also offered products from 100,000 Chinese brands. The top exported Chinese products on the platform were flat-screen TVs, dresses, air conditioners, trousers and mobile phones.

Based on the campaign, six categories have gathered steam around the world: beauty products, cultural and creative items, men's skincare, postpartum products, pet care items and sleep aids.

Referring to Thai products, Mr Liu said latex pillows, cosmetics and massage oils are gaining popularity among Chinese buyers.

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