Alibaba's 2014 Singles Day GMV Tops 2013 Figure in 13 Hours

iFeng Tech, 11/11/14

Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA) kicked off its annual "Singles Day" e-commerce shopping holiday on November 11. According to Alibaba, at 1:31 pm on November 11, gross merchandise volume (GMV) for the 2014 iteration of the holiday had already passed GMV for the full day of November 11, 2013, setting a new Singles Day record for the company.

Editor's Note: To ensure that this year's total GMV figure far outstripped last year's figure, Alibaba suspended the order cancellation feature on its TMall B2C site until after midnight tonight. The full sales price of such items are debited from Alipay accounts and included in this year's total Alibaba Singles Day GMV figure, even if they are subsequently cancelled tomorrow.

Keywords: statistics e-commerce Internet Alibaba Group Singles Day GMV BABA

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