China's e-commerce firms experienced a surge in shoppers and sales during this year's Singles' Day shopping festival, although exact figures were not disclosed. Alibaba, the operator of Taobao and Tmall platforms, revealed that 45 brands, including Apple, Nike, Haier, and Midea, surpassed 1 billion yuan in gross merchandise value. The company reported robust growth in gross merchandise volume and a record number of buyers, without specifying exact numbers.
Alibaba also noted a significant increase in 88VIP members placing orders during the festival, with a growth of over 50%. JD.com, a rival online retailer, reported a 20% increase in shoppers during its Singles' Day promotion period, achieving double-digit growth in transaction volume and orders.
