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Alibaba Singles’ Day Sales Kept a Secret for the First Time

An advertisement for the Alibaba Group Holding Ltd. Singles' Day shopping event in Shanghai. 

An advertisement for the Alibaba Group Holding Ltd. Singles' Day shopping event in Shanghai. 

Photographer: Qilai Shen/Bloomberg

Alibaba Group Holding Ltd. decided not to disclose full sales results for its signature Singles’ Day shopping festival for the first time, after forecasts that the figure may suffer a decline unprecedented in the event’s 14-year history.

Alibaba said in a statement gross merchandise value was “in line with last year’s GMV performance despite macro challenges and Covid-related impact.” Sales last year reached 540.3 billion yuan ($76.1 billion). Some 290,000 brands participated in 2022, the same as in 2021.