Alibaba's annual e-commerce revenue FY 2013-FY 2023, by region
In the fiscal year ending March 31, 2023, the Chinese e-commerce corporation Alibaba Group recorded a revenue of around 582.73 billion yuan in Chinese online sales. This translates to approximately 84.9 billion U.S. dollars.
China's e-commerce market and Alibaba
In 2022, the gross merchandise volume of China's e-commerce market amounted to around 13.8 trillion yuan and was expected to grow further in the coming years. Some of the factors contributing to this growth are increased internet penetration and ever-growing spending power of the general population, but also the expansion of e-commerce giant Alibaba Group.
The revenue of Alibaba Group reached 868.7 billion yuan (approximately 126.5 billion U.S. dollars) in financial year 2023. Alibaba’s most prominent e-commerce websites include Taobao Marketplace, Tmall, cross-border e-commerce platforms AliExpress and Kaola.com, a developer of platforms for cloud computing and data management called Alibaba Cloud, as well as O2O fresh food service Freshippo. Its payment provider Ant Group, formerly known as Alipay or Ant Financial, has been spun off in 2014 into an independent company.
Singles' Day
The company’s most profitable day in 2021 was Singles' Day, a popular Chinese festival functioning like the antithesis of Valentine’s Day. On November 11, Chinese singles throughout the country celebrate being single and proud, especially by treating themselves with presents. During the Singles' Day sales in 2021, Alibaba's online retail platforms recorded a total GMV amounting to more than 84.5 billion U.S. dollars.
China's e-commerce market and Alibaba
In 2022, the gross merchandise volume of China's e-commerce market amounted to around 13.8 trillion yuan and was expected to grow further in the coming years. Some of the factors contributing to this growth are increased internet penetration and ever-growing spending power of the general population, but also the expansion of e-commerce giant Alibaba Group.
The revenue of Alibaba Group reached 868.7 billion yuan (approximately 126.5 billion U.S. dollars) in financial year 2023. Alibaba’s most prominent e-commerce websites include Taobao Marketplace, Tmall, cross-border e-commerce platforms AliExpress and Kaola.com, a developer of platforms for cloud computing and data management called Alibaba Cloud, as well as O2O fresh food service Freshippo. Its payment provider Ant Group, formerly known as Alipay or Ant Financial, has been spun off in 2014 into an independent company.
Singles' Day
The company’s most profitable day in 2021 was Singles' Day, a popular Chinese festival functioning like the antithesis of Valentine’s Day. On November 11, Chinese singles throughout the country celebrate being single and proud, especially by treating themselves with presents. During the Singles' Day sales in 2021, Alibaba's online retail platforms recorded a total GMV amounting to more than 84.5 billion U.S. dollars.
