Tmall sees surging brand GMV in Singles' Day shopping spree

0 Comment(s)Print E-mail Xinhua, November 12, 2020
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Alibaba's e-commerce platform Tmall saw hundreds of brands break records in gross merchandise volume (GMV) during the annual Singles' Day online shopping spree this year.

As of 0:35 a.m. Wednesday, 342 brands on Tmall had surpassed 100 million yuan (about 15.1 million U.S. dollars) in GMV, with 13 of them crossing 1 billion yuan, based on cumulative figures since the company kicked off the shopping festival on Nov. 1.

A total of 357 new brands became the top sellers in their respective subcategories on Nov. 1 based on accumulation starting from 00:00 am of Nov. 1. More than 1,800 new brands surpassed their GMV from Nov.11 last year and 94 new brands enjoyed sales growth of over 1,000 percent.

Online customers have shown a strong demand for imported products due to curbs on overseas travel due to COVID-19, the company said.

Imported healthcare products were popular, with food supplements, facial beauty tools, baby formula, skincare sets and facial masks being the best-selling categories of imported items ranked by GMV.

More than 300,000 merchants from impoverished counties participated in this year's shopping festival, with their GMV rising 74 percent year on year.

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