2019, a record-breaking year for e-commerce in China!
2019 was another record year for the famous Alibaba’s Double Eleven! Numbers are staggering: GMV (Gross Merchant Value) reached RMB268 billions (or USD38billions), and this is a solid 26% increase compared to 2018. The GMV per order was RMB207, a record high too. 15 brands achieved the RMB1billion mark, and 299 brands the RMB100million one (from 237 brands in 2018)!
The top 5 international countries selling to China were Japan, USA, South Korea, Australia and Germany. Skincare and beauty brands, with an average discount of 30 percent, increased their total category share from 12 to 15 percent, as compared to the usual 3 to 5 percent. Estée Lauder was among the very successful brands, focusing on a single product, underlining the critical importance of the presale period. The brand sold 410K bottles of Estée Lauder’s Advanced Night Repair within the first 25 minutes, on October 21.
Source: McKinsey.
