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Alibaba reports 8.45% increase in shopping blowout, cites 'consumption vitality'

chinadaily.com.cn| Updated: November 12, 2021 L M S

Alibaba Group reported 540.3 billion yuan ($84.56 billion) transaction in this year's Nov 11 shopping gala, citing "consumption vitality and economic resilience".

This figure represented an 8.45 percent rise from last year's total of 498.2 billion yuan. But unlike previous years, the company did not publish any milestone gross merchandise volume throughout the 24-hour event.

Instead of touting the blowout's final revenue, the company emphasized the shared growth of big and small brands alike. It said over 2,600 brands saw revenue recorded in the first hour of Thursday surpassing last year's total.

As of 11 pm on Thursday, 698 small and medium-sized brands have leapfrogged from several millions yuan of sales in last year's event to pass the 10 million yuan threshold in this edition.

It also published latest consumption barometers reflected in the top items in people's shopping carts, such as skateboards, outdoor power supply, pet toys, and pre-prepared dishes.

Some 220 Chinese time-honored brands have doubled sales year-on-year by 8 pm, Alibaba said, whereas some 700 new brands recognized by the company have reported revenue to top their respective sub-categories.

The company also emphasized its green endeavors, giving out 100 million yuan worth of green subsidies to over 2.5 million customers who purchased merchandise with lower carbon footprints.

According to logistics arm Cainiao, some 1.2 million people have joined the offline initiative of parcel recycling between Nov 1 and Nov 10.

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