By South China Morning Post | Created at 2024-11-11 13:52:48 | Updated at 2024-11-18 05:32:04
6 days ago
Alibaba Group Holding says this year’s Singles’ Day campaign has seen strong demand in four product categories – home appliances, consumer electronics, beauty and apparel – in a sign of consumer-spending recovery on the mainland, as the world’s largest online shopping festival drew to a close on Monday.
Taobao and Tmall Group (TTG), Alibaba’s domestic e-commerce unit, said a total of 139 home appliance and furniture brands – including Haier, Midea Group and Dyson – each rang up 100 million yuan (US$14 million) in gross merchandise value (GMV), considered as a sales milestone for many merchants in the annual event also known as Double 11 or 11.11. Alibaba owns the South China Morning Post.
More than 9,600 brands in that category doubled their sales as of Sunday midnight, according to TTG, which credited government subsidies and discounts on the platform for helping boost demand.
As of Sunday midnight, a total of 79 beauty brands and 66 apparel brands also crossed the 100-million-yuan GMV mark, according to TTG. The best-performing apparel brands include Uniqlo, which recorded sales of more than 1 billion yuan during the campaign, as well as UGG and Victoria’s Secret.
TTG also touted the performance of live-streaming e-commerce to boost sales. As of Sunday midnight, over 100 live-streaming rooms promoting sales for Taobao and Tmall recorded a total GMV of more than 100 million yuan, which the Alibaba unit said was a record-high for the platform.
