Week5 - 1111光棍節

Gross merchandise volume for Alibaba Group’s 11.11 global shopping festival reached $14.3 billion this year or 60 percent higher than last year’s sales of $9.3 billion.

In the first 90 minutes alone of the 24-hour online shopping marathon, the Chinese e-commerce giant said $5 billion of GMV was already settled through Alipay, 70 percent of which were on mobile.

Within 14 hours, GMV exceeded $10 billion, with mobile GMV reaching approximately $7.1 billion. 

Total mobile GMV settled through Alipay was approximately $9.8 billion, exceeding total GMV in 2014, and accounted for 68.7 percent of total GMV. Total mobile GMV increased by 158 percent compared to 2014.

Total number of mobile buyers on Tmall.com and Taobao Marketplace was 95 million.

Alipay processed a total of 710 million payment transactions, and processed 85,900 transactions per second at peak. Meanwhile, AliCloud processed a total of 140,000 transactions per second at peak.

Daniel Zhang, chief executive officer of Alibaba Group, said the day demonstrates the power of domestic China consumption, and the Chinese consumer's strong demand for international products.

"It also showcases how Alibaba uses big data, cloud computing and mobile innovations to create the best shopping experience for buyers and sellers,” he said.

Research firm IDC said in its analysis of the online shopping frenzy introduced by Tmall in 2011 that Alibaba has reaped impressive sales year after year: $3 billion in 2012, $5.6 billion in 2013 and $9.1 billion in 2014. 

“The magical 11.11 season has become a symbolic carnival for online shopping in China,” it said.

Resouses:
http://enterpriseinnovation.net/article/alibabas-shopping-festival-nets-14-3-b-sales-527978466

Key words:
Gross merchandise volume (GMV)
商品交易總額
showcases 展現
IDC 國際數據資訊
Frenzy (暫時的)瘋狂

Structure of the lead:
What: the GMV for Alibaba group's 11.11 global shopping festival reached $14.3 billion
Where:  not given
When: 11.11
Who: Alibaba, Chinese buyers
Why: not given
How: not given