Alibaba Group on way to being world’s top retailer

Published April 15, 2016 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation


CHINESE e-commerce giant Alibaba Group Holding is expected to soon surpass Wal-Mart as the world’s largest retail platform, with sales in the current fiscal year exceeding 3 trillion yuan ($463.3 billion), the company said on Monday.

Alibaba’s fiscal year started on April 1 and ends on March 31.

Wal-Mart Stores posted net sales of $478.6 billion (Bt16.7 trillion) for the fiscal year ended January 31.

The latest sales figure for Alibaba is equivalent to Sichuan’s gross domestic product last year, when the province’s GDP ranked sixth on the Chinese mainland.

Zhang Yong, the company’s CEO, said in Hangzhou city that the figure was recorded on the company’s business-to-customer platform Tmall, consumer-to-consumer platforms Taobao and Rural Taobao and group-buying site Juhuasuan.

Zhang said he expects the company will achieve annual sales of 6 trillion yuan by 2020, and that “in 2024, we want to be a business platform serving two billion consumers and tens of millions of enterprises at home and abroad”.

The company will strive to combine cloud computing and big data technologies with the Internet and the Internet of Things, as well as consumer terminal equipment, to spur its development, he said. The Internet of Things is the network of physical objects – devices, vehicles, buildings and other items – embedded with electronics, software, sensors and network connectivity that enables these objects to collect and exchange data.

Citing the National Bureau of Statistics and McKinsey & Company figures, Gao Hongbing, director of AliResearch, said that of Alibaba’s 3 trillion yuan in total trading volume, about 660 billion to 1.17 trillion yuan is newly increased consumption.

“Online shopping has been an important engine to promote consumption, which meets the nation’s strategy of promoting domestic demand,” Gao said.

Last year, Chinese consumers’ willingness to spend reached the highest level since 2012, despite the economic slowdown, according to a study published in February by Nielsen.


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