Alibaba Singles’ Day 2019 Generates $38.4 Billion
As Alibaba Singles’ Day comes to a close, the tally is in, and 2019 generated US $38.4 billion (RMB 268.4 billion) of gross merchandise volume (GMV), reports Alibaba. The sales marks an increase of 26% compared to 2018.
This year’s Singles’ Day featured 200,000 participating brands, one million new product launches and 1.3 billion delivery orders. The top five international countries selling to China through cross-border platforms were: Japan, United States, South Korea, Australia, and Germany.
According to Alibaba, 299 brands surpassed U.S. $14.3 million in sales and 15 of those brands surpassed U.S. $143 million in GMV. Top selling fashion brands included: Estée Lauder, Gap, H&M, L’Oréal, Levi’s, MUJI, Nike, The North Face, Under Armour, and Uniqlo.
The success of many brands, like Estée Lauder, can come down to single product. Within 25 minutes, 410 thousand bottles of Estée Lauder’s Advanced Night Repair eye cream were sold during Tmall’s Singles’ Day presale on October 21.