News

E-commerce

Paul Howell

, Singapore

Published:

3 years ago

Alibaba records strong sales within first hour of 11.11

Over 13 brands surpassed RMB1b gross merchandise value as of 00:35.

More than 340 brands have surpassed the RMB100m (US$15.12m) mark in sales and 13 brands have surpassed RMB1b (US$151,200) in GMV as of 00:35 AM on November 11.

According to Alibaba, imported products are more in demand now due to restrictions on overseas travel following the pandemic.

In addition, consumers are also notably spending more on products that improve and support their health.

Popular brands which have exceeded the RMB100m (US$15.12m) sales mark just more than half an hour after midnight include Apple, L'Oréal, Haier, Estée Lauder, Nike, Huawei, Midea, Lancôme, Xiaomi, and Adidas.

As per Alibaba, more than 1,800 new brands surpassed their GMV from 11.11 last year and 94 new brands enjoyed sales growth of over 1,000%.

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