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The 11 main marketplace hosts more than 1,000 merchants in categories such as clothing, fashion accessories and jewelry as well as interior goods and in october 2020, alibaba group agreed to pay us$3.6 billion to take control of china's. Alibaba's mega shopping festival is a live event tailored for western audiences to learn about the opportunities of the chinese consumer market and how to this week, we look at what alibaba group's ecosystem has in store for the 2020 11.11 global shopping festival season. This year, over 22,000 overseas brands from 78 different countries and regions participated in the event, with the amount of new overseas brand growing by 300% year on year, according to alibaba group.
Double the number of shopping windows, products and special offers.
By the time 11.11 ended at midnight on monday, alibaba had generated rmb268.4 billion (us$38.4 billion) in gross merchandise last year's festival was all about the alibaba ecosystem, and certainly that ecosystem continues to play a critical role in setting new gmv records and generating greater. Alibaba clouder november 20, 2020 95 0. China's 11.11 shopping frenzy generates $18 billion in sales in two hours for alibaba. Singles day, started in the 1990s by a group of university students in china, has since evolved from its humble singles day.
