Alibaba generated nearly US$25.3 billion of gross merchandise volume (GMV) settled through Alipay during the shopping festival.
The company generated 50% ($12Bn) in the first two hours of the 2017 11.11 Global Shopping Festival, which saw participation from more than 140,000 brands.
The Alibaba Economy at Scale
- Total GMV settled through Alipay was RMB168.2 billion (US$25.3 billion), an increase of 39% compared to 2016
- Total mobile GMV settled through Alipay was approximately 90% of total GMV, compared to 82% last year
- More than 140,000 participating brands and merchants
- Alipay processed 1.48 billion total payment transactions, up 41% from 2016, and processed 256,000 transactions per second at peak
- Alibaba Cloud processed 325,000 orders per second at peak
- Cainiao Network processed 812 million total delivery orders
- The first delivery arrived 12 minutes and 18 seconds after midnight
What do we feel about this? Well.