Taobao and Tmall achieve record GMV and active shoppers during 16th annual 11.11 shopping festival

BEIJING (dpa-AFX) – Taobao and Tmall, the Chinese retail business of Alibaba Group, announced strong gross merchandise volume (GMV) growth and reached a record number of active shoppers during their 16th annual 11.11 Shopping Festival.

The 11.11 Shopping Festival started in 2009 with the participation of just 27 retailers as an event for retailers and consumers to raise awareness of the value of online shopping.

The number of 88VIP members who have placed orders has increased by over 50% year-over-year (as of November 11, 12:00 a.m.).

66 clothing brands and 79 beauty brands exceeded RMB 100 million in GMV as of 12:00 a.m. on November 11th. 34 consumer electronics brands also exceeded RMB 100 million in GMV.

The company noted that the new consumer power enabled four designer and collectible toy brands to surpass RMB 100 million in GMV as of 4:00 p.m. on November 11. 34 sports and outdoor brands surpassed RMB 100 million GMV as of 12:00 a.m. on November 11th.

Shopping Festival 2024 11.11 data from Taobao and Tmall shows a new milestone: 589 brands exceed GMV of 100 million RMB, up from 402 brands last year. In addition, 45 brands achieved GMV of over RMB 1 billion, including big names such as Apple, Haier, Midea, Xiaomi, Nike and Wuliangye.