Alibaba's 11.11 Singles Day sales hit US$38.4bil

An employee of Alibaba Group gestures during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 11, 2019. REUTERS/Aly Song

KUALA LUMPUR: Alibaba Group Holding Ltd announced it generated US$38.4 billion (US$1=RM4.15) in gross merchandise volume (GMV) on Nov 11, 2019 -- its ‘11.11 Singles’ Day’ global online shopping extravaganza, an increase of 26 per cent compared with 2018.

Taobao and Tmall President Fan Jiang said the successful event indicated the future of consumption trends for brands and consumers.