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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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Coresight Research

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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