Alibaba's Shopping Festival Records Rp 343 Trillion in Transactions in a Single Day

On November 11, 2017, Alibaba Group held its annual 11.11 Global Shopping Festival. During this Alibaba Singles Day event, it achieved a Gross Merchandise Volume (GMV) of US$25.4 billion, equivalent to Rp 343 trillion. This figure represents an increase from the previous year.

This online sales festival, conducted by China's largest e-commerce company, processed 1.48 billion payment transactions this year, a 41 percent increase from the previous year. At its peak, Alibaba processed 256,000 transactions per second. The first delivery reached a consumer 12 minutes and 18 seconds after the festival market opened at 00:00 local time. Since Alibaba acquired Lazada, consumers from Southeast Asia have been able to easily access Alibaba's Taobao collection.

Based on the financial report as of September 2017, Alibaba's sales up to the second quarter of 2018 (annualized/12 months) reached US$28.96 billion or Rp 390.9 trillion. The market capitalization of the issuer with the code BABA reached US$472.64 billion, or approximately Rp 6,380 trillion.