MORE than 380 brands from Apple Inc. to L’Oreal SA have raked in more than 100 million yuan (US$15.7 million) each since Alibaba Group kicked off its Singles’ Day festival Nov. 1, the company said Thursday.

The online blitz is an 11-day event with the best deals concentrated in two discount periods — Nov. 1-3 and Nov. 11. Last year, it racked up US$74 billion in orders, or “gross merchandise value” (GMV).

Alibaba this year has toned down the marketing hype, but the event remains a top draw for millions of merchants and shoppers with livestreamers hawking products from skincare to sports shoes.

China’s most popular livestreaming hosts, Li Jiaqi and Viya, begun livestreaming Oct. 20 and respectively presold over 11.5 billion yuan and 8.53 billion yuan of products, according to Chinese media.

Analysts, however, say that they are expecting Alibaba to report only a minor increase in GMV this year, citing slowing retail sales, supply shortages, power disruptions and COVID-19 lockdowns.

The company has done away with an audience for its annual entertainment gala this year and has not provided a media center to reporters for the first time, citing COVID-19 precautions. It opted to livestream the event instead.

On the eve of the event’s final 24 hours, the livestreamed gala Wednesday featured British actor Benedict Cumberbatch, known for his portrayal of fictional crime-fighter Sherlock Holmes, who provided clues to puzzles the hosts solved via video message.

Prior to the pandemic, Singles’ Day galas saw in-person performances by stars such as Taylor Swift and Pharrell Williams. (SD-Agencies)