HANGZHOU, China--(BUSINESS WIRE)--Taobao and Tmall Group (“Taobao and Tmall”), Alibaba Group’s China commerce business, today successfully concluded its 15th annual 11.11 Shopping Festival (“11.11” or the “Festival”). For the entire campaign period, Taobao and Tmall recorded positive year-on-year growth in GMV, order number, and participating merchants compared to the same period last year.
“Taobao and Tmall‘s solid performance reflects the success of our user-first strategy, which is focused on competitive pricing, diverse content offerings, and AI-driven technologies that further optimized consumer and merchant experiences during the campaign,” said Trudy Dai, Chief Executive Officer of Taobao and Tmall Group. “Brand membership programs continued to play a pivotal role in this year’s 11.11, highlighting our capabilities in supporting merchants to nurture sustainable, long-term consumer loyalty and business opportunities.”
Highlights from Taobao and Tmall’s 2023 11.11 Shopping Festival:
Price-competitive offerings driving sales growth:
- As of 12:00 a.m. November 11, 402 brands surpassed RMB100 million in GMV each, while 38,000 brands achieved over 100% year-on-year growth in GMV.
- The direct discount venue offering 15% price reduction recorded 210 million orders during the sales period, while the venue featuring value-for-money products from manufacturers generated nearly 90 million orders.
Content strategy bringing more business opportunities:
- As of 12:00 a.m. November 11, 38 merchant-operated livestreaming channels generated over RMB100 million in GMV each, accounting for over 60% of the channels with over RMB100 million in GMV.
- 451 merchant-operated channels recorded over RMB10 million GMV each.
Increased AI adoption enhancing customer experience:
- AI-driven merchant tools were used over 1.5 billion times during 11.11 preparation and campaign period.
- Since beta launch in September, millions of users used Taobao App’s embedded generative AI application "Taobao Wenwen" which helps guide consumer purchasing decisions through AI-powered question-and-answer interactions.
Brand membership programs cultivating customer loyalty:
- Taobao and Tmall merchants added more than 100 million new members in total.
Note: All times mentioned in this press release refer to Beijing time. The entire campaign period for this year’s 11.11 is from October 24, 2023 to November 11, 2023. The pre-sale period started October 24, 2023. The sales period started October 31, 2023 and ended November 11, 2023. Year-on-year growth rates are compared against the same date period in 2022. GMV disclosed in this press release refers to the total value of orders in RMB settled through Alipay on Alibaba's Taobao and Tmall platforms. It is reported on a real-time basis and includes shipping charges paid (where applicable). All GMV and other figures presented in this press release are unaudited and subject to adjustments.
About the 11.11 Shopping Festival
The 11.11 Shopping Festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness about the value of online shopping. For the latest news and updates on the 2023 11.11 Shopping Festival, please visit: https://www.alizila.com/