Lates News

Alibaba, China's e-commerce group, saw its revenue grow by 6% year-on-year to 159.347 billion yuan, consolidating its competitive advantage with steady user growth. This quarter, the monthly active consumers on the Taobao app achieved a double-digit year-on-year increase, while the number of 88VIP members continued to grow by more than 59 million year-on-year. The scale of the instant retail business further expanded this quarter, improving user experience and optimizing operational efficiency. Benefiting from improved fulfillment logistics efficiency, improved order structure, and high customer retention rates, the revenue of the instant retail business increased by a year-on-year 56%, with unit economic benefits and average order value continuing to improve month-on-month.