News in from China. Alibaba has delivered some stellar results for the third quarter in 2016. Alibaba Group Holding Ltd. reported a 54% year on year increase in revenues in the third quarter 2016. In China that quarter ends on the 31st December.
82% of China’s online shoppers use mobile to buy and much of the Alibaba Chinese marketplace revenues come through the Taobao and Tmall channels.
The jewel in the crown for Alibaba continues to be the largely invented holiday Singles’ Day that generated $17.4 billion worth of sales on its various online marketplaces back on November 11th. According to analysts that’s roughly 5 times as big as Cyber Monday in the US.
Alibaba is clearly one of the ecommerce players to watch. Not only do their domestic (and indeed overseas) marketplaces continue to perform at astonishing levels, as a source of supplies and a gateway to Chinese manufacturers, they remain formidable. This sort of growth is phenomenal and we know that the company is ambitious at home and abroad.
Increasing Tmall is becoming a significant outlet for European sellers too. The Chinese thirst for quality goods and luxury brands, and indeed a fascination with many things British, means that it could be a useful outlet for you. Have you dipped your toe in the Tmall water?