Hangzhou, China – This year’s 11:11 Global Shopping Festival by commerce giant Alibaba has reeled in USD 74.1B in gross merchandise value (GMV), marking a 26% increase in comparison to last year’s event.

The shopping festival, lasting through eleven (11) days from November 1 to 11 across Alibaba and its affiliates like AliExpress and Lazada, has seen 470 brand participations. These brands, in total, amassed USD 15.1M in GMV.

Other notable statistics include:

  • 250,000 brands in total participated in 11.11 this year, of which 31,000 are overseas brands.
  • 2,600 overseas brands participated in 11.11 for the first time.
  • AI customer chatbot handled over 2.1 billion queries during the 11-day period

The United States was the top country selling to China in terms of GMV value. Other key nations include Australia, Canada, France, Germany, Italy, Japan, Korea, New Zealand and the UK.

“Over the past 12 years, innovation has been at the heart of 11.11 and along the way it became a global consumer festival. 11.11 is defined by our consumers, merchants and our partners across the ecosystem, and also a beneficiary of all the support from society. “We will continue to focus on developing our digital infrastructure in the service of empowering merchants of all sizes to find a path to success in the digital economy,” said Jiang Fan, President of Taobao and Tmall.

Singapore – Promo and discounts platform ShopBack has started its annual end-year shopping festival, ShopFest, for 2020 for its nine Asia Pacific markets.

ShopFest will be running from 1 September to 31 December, covering the key end-of-year shopping dates around APAC including 9.9, 11.11, Black Friday, and Cyber Monday. 

During ShopFest, alongside being able to use exclusive deals and earn cashback from both online and offline retailers, users will be able to run some of the platform’s new features: vouchers, product comparison, and ShopBack challenges.

Vouchers can be redeemed using the cashback balance in the user’s bank account, or purchased via credit card.

Meanwhile, the product comparison feature is a product aggregation service for users to search and compare products from ShopBack’s merchant partners. The feature is also said to enable viewing of price history and the option to set price alerts to assist in more informed purchasing decisions.

With challenges on the other hand, it is an added feature for users to receive bonus cashback and other attractive rewards via completion of specific tasks and challenges.

Henry Chan, co-founder and CEO of ShopBack said, “Many consumers look forward to the year-end shopping season, however, it can be overwhelming for the consumer as more and more online retailers participate each year. At ShopBack, we wanted to create a unified platform to seamlessly connect these brands and consumers, and at the same time help consumers cut through the noise and better navigate through the various sale events and deals.”

The newly integrated features are said to roll out across ShopBack’s nine markets at different times over the next year.