Alibaba generates USD 25.3 bn GMV, reports 39% surge

Chinese e-commerce major Alibaba Group Holding Limited registered USD 25.3 billion worth of gross merchandise volume (GMV), which was settled through Alipay on November 11, thus recording an increase of 39 per cent compared to 2016.

"More than USD 25 billion of GMV in one day is not just a sales figure. It represents the aspiration for quality consumption of the Chinese consumer, and it reflects how merchants and consumers alike have now fully embraced the integration of online and offline retail," said Daniel Zhang, Chief Executive Officer of Alibaba Group.

In the wake of the Global Shopping Festival, the total GMV was USD 25.3 billion, comprising 90 per cent mobile GMV, both settled through Alipay. Also, Alipay processed 1.48 billion total payment transactions, up by 41 per cent from 2016, and processed 2,56,000 transactions per second at peak.

Furthermore, Alibaba Cloud processed 3,25,000 orders per second at peak, while Cainiao Network processed 812 million total delivery orders, with the first delivery arriving 12 minutes and 18 seconds after midnight.

On the festival front, 167 merchants each generated more than USD 15.1 million in sales, 17 merchants surpassed USD 75.4 million and six merchants surpassed USD 150.9 million in sales. The top countries selling to China included Japan, United States, Australia, Germany, and South Korea.

Earlier, Alibaba reported USD 18 billion worth sales for Singles' Day in just 12 hours. The company had already surpassed last year's sales for Singles Day with nearly USD 18 billion USD in merchandise sold already, about USD 10 billion of which was sold in the first hour of the day.

In two minutes, Alibaba's gross merchandise volume totalled USD 1 billion and in the next 40 minutes, the site's sales had surpassed USD 7.5 billion, reports suggested.