Newsletter summary

Alibaba's financial report shows that the GMV and orders of Taotian Group have increased steadily compared with the same period last year, with more than 35 million 88VIP members and 4 per cent revenue growth compared with the same period last year. Strategy upgrading promotes member services to attract people with high purchasing power and improve user satisfaction. Wu Yongming, CEO of the group, said he was confident of staying ahead of the market.

Text of news flash

[Alibaba Group Financial report reveals strong growth] on May 14, Alibaba Group announcedBestfreevideopokerFirst-quarter results showed that the total merchandise trading volume (GMV) and orders of its Taotian Group achieved double-digit year-on-year growth. This is mainly due to the positive growth in user buying behavior and the increase in transaction frequency, resulting in a 4 per cent year-on-year increase in group revenue and a 5 per cent increase in customer management income (CMR).

[88VIP membership significantly expanded] Taotian Group's 88VIP membership program performed well, with more than 35 million members.BestfreevideopokerDouble-digit growth. These members are regarded as core consumer groups with high activity, strong purchasing power and high loyalty, and their high recognition of the brand makes their annual consumption on the platform far higher than that of ordinary users.

[e-commerce services break through geographical restrictions] through its cross-regional capabilities of e-commerce services, Taotian Group has successfully covered a wider range of consumer groups. Through the advantages of official flagship store clusters and authentic new products, the Group provides consumers with a richer, diversified and credible supply of brand products.

Taotian Group's hierarchical and refined operation strategy has achieved remarkable results, attracting more consumers to choose 88VIP membership services by improving user experience and services and improving user rights and interests, and brings growing business opportunities for the brand.

[Alibaba Group CEO is full of confidence in market leaders] Wu Yongming, CEO of Alibaba Group and Chairman of Taotian Group, stressed at the earnings call that with the gradual implementation of the "user first" strategy, the Group is full of confidence in maintaining market share leadership and winning consumer trust.

[88VIP membership rights continue to upgrade] since the second half of last year, Taotian Group has upgraded the rights and interests of 88VIP members many times, including mango TV membership rights and "new three packages" rights increased during the "double 11" period last year, as well as a number of preferential activities launched in March this year.

[expansion of 88VIP Equity Cooperative Brands] at Tmall TopTalk Super Brand Private meeting in 2024, Tmall announced an additional 10 billion investment in 88VIP this year, increasing the size of cooperative brands from 4000 to 10000, and launched an unlimited return package freight service.

[88VIP points for cash red envelopes] from May 6th, 88VIP members can exchange points for cash red envelopes, and this new right provides more benefits for members.

[positive signal of the consumer market] in the first quarter of 2024, the total retail sales of consumer goods in China exceeded 12 trillion yuan, an increase of 4% over the same period last year.Bestfreevideopoker.6%, core CPI rose 0% from the same period last yearBestfreevideopoker.7%, indicating that the role of consumption in promoting economic growth is increasing.

[online consumption maintains double-digit growth] in the first quarter, online retail sales of physical goods increased by 11.6% compared with the same period last year, indicating a further increase in e-commerce penetration.

[88VIP helps merchants achieve growth] by optimizing the consumer experience and expanding equity cooperation brands, Taotian Group's 88VIP program is helping brands connect with core consumers and achieve stable and sustainable growth.