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Coresight Research Countdown to 11.11 Series, #12: Singles’ Day 2018 Sales Could Reach US$32 Billion

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Key Points

Alibaba’s 11.11 Global Shopping Festival, also known as Double 11 or Singles’ Day, takes place on November 11 every year and it has become the world’s biggest 24-hour online sale. This report series covers the various shopping festivals and developments in New Retail that are taking place in the lead up to this event.

  • Double 11 is setting new gross merchandise volume (GMV) records every year. We estimate that Alibaba’s GMV for Double 11 2018 will reach approximately ¥220 billion (US$31.8 billion), up by around 31% from last year’s GMV of ¥168 billion (US$24.3 billion at latest exchange rates and US$25.3 billion at 2017 exchange rates).
  • Five big logistics companies in China have raised their charges for parcel delivery services in anticipation of surging demand during National Day Holidays and the upcoming Double 11.
  • Cainiao Network, Alibaba’s logistics affiliate, has taken initiatives to ensure efficient and environment-friendly services during the event.

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