32% growth in revenues for Alibaba

Alibaba Group has seen a 32% growth in revenues for the year end 2021, with a billion active consumers buying from the Chinese online giant. Consolidated revenues were 509.7 billion Yuan (USD $79.21 billion).

“Alibaba achieved a historic milestone of one billion annual active consumers globally in the fiscal year ended March 2021,” said Daniel Zhang, chairman and CEO of Alibaba Group. “Our overall business delivered strong growth on a healthy foundation, with the Alibaba Ecosystem generating a record US$1.2tn in GMV [gross merchandise value]during this fiscal year.”

Zhang pointed to Chinese consumers are being a major growth engine for Alibaba: “Such achievements were built on top of clear value propositions that we offer to consumers and merchants. We remain very excited about the growth of China’s consumption economy, which is benefiting from the acceleration of digitalisation in all aspects of life and work. We will continue to focus on customer experience and value creation through innovation, as we pursue our mission to make it easy to do business anywhere in the digital era.”

According to Alibaba’s year end results, 240 million of its active customers are using its international marketplaces such as Lazada and AliExpress. Its logistics business Cainiao Smart Logistics Network has seen revenue growth of 68% to US$5.68 billion (5% of total Group revenues). Its daily package volume exceeded 5 million for the month ended 31st March 2021.

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