Alibaba Group news

Alibaba and JD.com handled US$136.5bn of sales through their platforms during 6.18, an annual online shopping festival in China that runs from 1 st June to 20 th . Strong numbers show retail is recovering For 6.18, Alibaba achieved gross merchandise value (GMV) of CNY698.2bn (US$98.5bn), over double what it achieved on Singles Day (2020 11.11) last year, which posted record GMV of CN...

The annual 6.18 Mid-Year Shopping Festival was kicked off on 1 June, which is China’s largest online retail promotion since the outbreak of COVID-19. Equivalent to 11.11 Singles Day The event, which runs until 20 June, was launched by JD.com 17 years ago as the anniversary of JD.com. Since then, it has become an online shopping festival for major ecommerce players. It is the equivalent to...

Alibaba has posted its financial results for the fiscal year ended March 31, 2020. Total revenue was up 35% to CNY509,711m (US$71,985m) YoY. Robust top line figures for the fiscal year GMV transacted in the Alibaba Digital Economy was CNY7,053bn (US$1tn), CNY6,589bn (US$945bn) of which came from China retail marketplaces Core commerce revenue up 35% YoY to CNY436,104m (US$61,130m) ...

Alibaba is closing its Freshippo Fuzhou Bona Plaza and Chating International stores, withdrawing from Fuzhou the capital city of Fujian province in China. Demand and supply chain challenges Freshippo mainly caters to middle and high-end consumers. Despite Fuzhou having a high consumption level, the absolute values of these groups are limited, unlike Shenzhen for example. Fierce competition ...

The Chinese technology conglomerate launched Xiao’e Pinpin, a mini program for social commerce on WeChat on 29 April. “ Nothing beats than a great purchase ” Tencent’s Xiao’e Pinpin is a group purchasing platform. It was launched with the slogan “Nothing beats than a great purchase”. Supported by Tencent’s WeChat ecosystem, the app has the potential to reach 1.1 billion users of different s...

Alibaba’s Taobao Live is helping more industries in China digitise their operations. Live streaming in agricultural and retail sectors Alibaba is increasing Taobao Live’s reach and accessibility. Taobao Live announced that it would offer training to 200,000 farmers in ongoing efforts to increase business in rural areas across China. The livestreaming platform aims to generate CNY15bn (US...

The Jack Ma and Alibaba foundations have stepped up their support for countries impacted by Coronavirus (COVID-19). Sending supplies across Asia During the week beginning 16 March, the foundations said they were preparing a joint donation of 2m masks, 150,000 test kits, 20,000 sets of protective gear and 20,000 face shields to Indonesia, Malaysia, the Philippines and Thailand. The founda...

Ant Financial Services, an affiliate of Alibaba, will start allowing third-party vendors to offer services that extend beyond financial on Alipay, e.g. food delivery, retail and healthcare. Transforming 40m service providers Alipay is opening up its platform to support the digital transformation of 40m service providers over the next three years across China. This will enable them to open m...

Since launching in 2016, new-retail inspired Freshippo has expanded to about 200 stores covering more than 20 cities. Adapting to local needs Alibaba has been refining its Freshippo store concept and now operates seven different store formats. These target different shopper missions: Freshippo (formerly Hema Fresh) blends online, offline and big data to transform the grocery shoppin...

To help brands minimize impact of coronavirus, Alibaba’s B2B marketplace Tmall is rolling out a series of measures. A support package designed to minimize the impact Tmall has implemented a series of measures to minimize impact of coronavirus to help brands selling on its marketplace. The package includes the following: Reduced fees:  merchant operation expenses, logistics costs and ...