By Shawn Lim

Chinese e-commerce giant Alibaba has reported that its first Covid-19 era Singles’ Day generated RMB498.2 billion (US$74.1 billion) in gross merchandise volume (GMV) from November 1 to 11. This an increase of 26% compared to the same timeframe in 2019.

Alibaba said over 470 brands achieved more than RMB100 million in GMV and handled 583,000 orders per second during the peak of activity. Apple, L’Oréal, Haier, Estée Lauder, Nike, Huawei, Midea, Lancôme, Xiaomi and Adidas were among the brands that exceeded the RMB100 million mark.

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Source: The Drum