Alibaba's 11.11 Flash Sale Recorded A Transaction Value Of IDR790 Trillion

JAKARTA - Alibaba recorded a record transaction value of up to 372 billion Yuan or IDR 790 trillion. This profit is obtained in the 11.11 online shopping festival or Singles' Day.

Launching CNN Business, this year Alibaba has surpassed record transactions in the previous period with a total value of goods reaching 268.4 billion yuan or around Rp.575 trillion.

The company made by Jack Ma also recorded the number of orders at its peak at 583 thousand orders per second. This number will get even bigger once the 11.11 event ends at midnight.

Vice President of Alibaba Group and General Manager of Tmall Marketing and Operations Liu Bo said the COVID-19 pandemic affected an increase in the number of transactions at 11.11 on several Alibaba-owned shopping platforms.

"Due to COVID-19 many Chinese middle class people cannot go abroad so there is a stimulus for online shopping. Tmall is a place where consumers buy the things they like," Liu said in a virtual press conference, Wednesday, November 11.

Given the pandemic that is still volatile, the majority of transactions are generated from health products. Including imported products such as supplements, beauty products, baby milk, skincare and beauty masks.

In Indonesia, e-commerce platforms such as Shopee and Lazada recorded a 6-fold increase in transactions compared to last year's 11.11 online shopping festival.

The largest transaction made during opening hours on November 11 was valued at more than Rp. 30 million, from a consumer who bought two smartphones, an action cam, and cleaning detergent.