Alibaba posted 1% decline in China trading segment in Q2

Alibaba posted 1% decline in China trading segment in Q2

Shanghai, August 11, 2022

In the 12 months ended June 30, 2022, more than 123 million active consumers spent more than RMB 10,000 on Taobao and Tmall. As of June 30, 2022, Alibaba had 25 million 88VIP members with average annual spending of over RMB 57,000 per member.

Taobao Deals has helped a growing number of manufacturers sell directly to consumers (M2C) on Taobao and Taobao Deals. In the June quarter, the paid GMV of M2C products on Taobao and Taobao Deals increased by more than 40% year-on-year.

Taocaicai, Alibaba’s company that offers consumers a next-day pickup service for groceries and fresh produce at neighborhood pickup points, has quickly established itself in regions with high population density and strong purchasing power.

In the second quarter, Taocaicai’s GMV grew more than 200% year-on-year, while losses increased moderately compared to the same quarter last year. Thanks to an optimized pricing strategy, better sourcing opportunities, and lower operating costs, Taocaicai significantly reduced losses in the June quarter compared to the previous quarter.

The share of online sales of Freshippo and Sun Art reached 68% and 36%, respectively.

Translated with www.DeepL.com/Translator (free version)