Jenny Chan 陳詠欣
Nov 12, 2018

Singles Day hits US$30.8 billion record as Alibaba goes 'all-in'

What brands won the day, and what we learned.

At the stroke of midnight when the rolling counter stopped, gross merchandise volume for Alibaba’s 11.11 Global Shopping Festival 2018 hit RMB213.5 billion US$30.8 billion27% higher than last year’s milestone.

Even before the sun set on 11 November, it was a foregone conclusion that this year's GMV would again satisfy Alibaba executives, as last year's record of RMB168.2 billion US$ 25.3 billion got broken at around 4 pm.

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