Alibaba GMV crossed $1tr milestone
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In only its 20th year of business Alibaba online Gross Merchandising Volume (GMV) crosses $1tr milestone. Alibaba is one of the largest companies in the e-commerce segment in the world and operator of AliExpress platform.
Two-digit revenue growth rates
Alibaba online e-commerce platforms finished 2019 financial year (which ended on 31 March) with over 960 million active users globally of which 760 milloin are from China. This means that the number of platform users from China has increased by more than 70 million over the past year.
The company recorded a massive growth of 35% in revenues for fiscal year ending in March 2020. Despite the COVID-19 global pandemic Alibaba managed to exceed analysts consensus forecast for the January to March period of 2020 with revenue growth of 22% year on year.
Alibaba wants 2 billion customers
For comparison Alibaba’s $1tr GMV far exceed’s USA based company Amazon.com $335bn GMV. Alibaba’s and Amazon’s financial years relate to different periods (for Amazon, they coincide with the calendar year 2019), but the difference in scale of operations is significant.
For April 2020 Alibaba reported a steady recovery from March sales. This is a good news for global business as it indicates that the recovery process from COVID-19 is underway. Alibaba finished 2019 with over $18.48bn in free cash flow which places it in a very strong position to realise its long term goal of 2 billion active global consumers by 2036.
Alibaba, through the AliExpress portal also operates in Poland. According to PMR estimates, it is responsible for only a few percent of the Polish e-commerce market, but it is the most recognisable foreign service in Poland.
