Following the conclusion of its 16th edition of 11.11, the largest shopping and discount event in China commemorating “Singles’ Day,” Alibaba has presented its results. However, the eCommerce giant has not disclosed total revenue figures, continuing the secrecy it began in 2022 and has maintained since.
This may be attributed to the country’s economic context, which has led Chinese consumers to reduce their purchases, becoming more cautious about making large expenditures they do not consider essential or particularly necessary.
Alibaba deployed heavy resources in preparation for this 11.11, offering promotions exceeding €3.9 billion; implementing technological advancements to enhance customer experience, such as AI-powered simultaneous translations; fast shipping outside of China, and more.
In fact, Alibaba has announced that AI assisted 4 million merchants in increasing their efficiency by generating over 100 million images, videos, and marketing texts, and by helping with consumer segmentation. “The AI-powered marketing tool Quanzhantui drove growth for more than 1.6 million products, demonstrating the technology-driven future of eCommerce,” explained the Chinese giant.
This initiative enabled 589 brands to exceed 100 million yuan ($13.8 million) in GMV (Gross Merchandise Value), marking a 46.5% increase compared to 2023. Among these brands were major players like Apple, Haier, Nike, and Xiaomi.
Additionally, a total of 45 brands managed to surpass the 1 billion yuan ($138.05 million) threshold.
Members of 88VIP, Alibaba’s premium subscription program, increased their order volume by over 50% year-on-year, although the total sales amount was not specified. In its statement, Alibaba explains that these more than 42 million members are notable for their high purchasing power, “visiting the platform more than 25 days per month and spending 9 times more than the average buyer.”
According to data presented by the company, key categories such as beauty and consumer electronics once again showed strong results. Additionally, emerging products like designer toys and outdoor activity equipment have surged in popularity, driven largely by Millennials and Generation Z.
Home appliances and furniture also performed well, partially due to government subsidies and active discounts on the platform. Specifically, 139 brands in these categories—including Haier, Midea Group, and Dyson—surpassed 100 million yuan ($13.8 million) in GMV.
Photo: Alibaba
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