This year’s 11.11 blew all previous events out of the water, with Alibaba and JD pulling in around $115 BILLION during the event… a new record for both.
And with the event starting early this year on Nov 1st, Alibaba’s GMV over the 11-day period totaled 498.2 billion RMB ($74.1B), nearly doubling last year’s 268.4B RMB.
Here are a few of my team’s key takeaways from the Chinese language iMedia-2020 Singles Day Overview.
– Within 30 minutes of the official start of its 2020 #SinglesDay event, Alibaba set a new sales record RMB 372.3 billion ($56.3 billion) in total GMV. This includes sales from the “First Wave”, 3 days of pre-launch activities.
– 87.6% of the interviewed netizens expressed high intention of participating in the 11.11 promotion this year, while 52.6% of the interviewees were ready before it.
– The duration of livestreaming sessions on Taobao Live totaled 1660 YEARS during Singles Day.
– 68.6% of the interviewed netizens questioned the authenticity of 11.11 livestreaming data.