2016 Alibaba Global Shopping Festival

According to real-time data released by the Alibaba, up to 24 pm, 11, 2016, Tmall double 11 global shopping festival GMV is over 120.7 billion yuan, 81.87% from mobile transaction, covering 235 countries and regions.
On Nov. 11, the logistics once again set a new global record, Cainiao network produced a total of 657 million orders; PayPal achieved the total number of 1.05 billion payment transaction, an increase of 48% year-on-year. 120,000 payment transactions at peak, 1.4 times faster than last year, also sets a new payment record.
Earlier, at 6:54:53 on the 11th, 2016, the GMV is over 57.1 billion yuan, pass the 2014 Single day’s GMV; At 15:19:13, the GMV is 91.2 billion, 83% from mobile transactions, pass the last single day’s GMV; At 18:55:36, the GMV is over 100 billion yuan, 82% from mobile transaction; At 22:12:03, the GMV reached 111.1 billion yuan at the first time.
From 50 million yuan the first year to 912 billion yuan last year, and then get into hundred billion era this year, it’s a process of fission from the fission to the fusion on Alibaba Eco-system. Alibaba Chairman Jack Ma believes that Alibaba is building a kind of business infrastructure, including the transaction market, payment, logistics, cloud computing and big data, not only to link businesses and the Internet, but also to link business and the future business model.
This Single day’s GMV is a new beginning for Alibaba, according to the historical transaction law, the peak GMV will usually become normal in the future.
At the same time, this global shopping festival also make “new economic era” come into the reality. By more than ten years of cultivation, Alibaba’s ecology is going to gather global demand, connects global businesses and consumers, changes the upstream manufacturing, logistics and financial allocation efficiency to form a new production relationship. Deep interactive approach will be completely blurred the boundaries of consumption and entertainment. The connection of domestic and overseas business infrastructure will make global trading possible.
Jack Ma said his goal was to “create an economy that has never been born before, cross-time and cross-country”. And after eight double eleven festivals, this goal is becoming a reality step by step.

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