In the fiscal year ending March 31, 2018, the Alibaba Group’s annual revenue amounted to around 250.3 billion yuan (approximately 37.3 billion U.S. dollars) with a net income of 61.4 billion yuan (around 9.16 billion U.S. dollars). The majority of group revenues are generated through its various e-commerce ventures with local e-commerce accounting for around 71 percent of Alibaba’s income. In fiscal year 2018, the group generated a gross merchandise volume of around 4.82 trillion yuan through its online retail market places, with the cumulative number of active online buyers across all online shopping properties amounting to 601 million as of the third quarter of 2018.
The current estimated digital buying penetration rate among internet users in China is close to 75 percent. The increasing usage of mobile internet has opened up the possibilities of mobile shopping for both consumers and e-tailers. Alibaba has seen a rapid growth of mobile usage on its online shopping properties with a number of mobile monthly active users reaching 666 million as of the third quarter of 2018, up from 549 million in the same period of the previous year.