Alibaba Group announced on the 6th that it achieved sales of 155.59 billion yuan (about $22.838 billion) in the second half of fiscal 2020. And it is up 30% from a year earlier.
Sales of its core commerce division increased 29 percent year-on-year to 130.92 billion yuan ($19.283 billion). Among them, commerce sales in China rose 26 percent to 95.47 billion yuan. Sales in the cloud sector increased by 60 percent year-on-year to reach 14.899 billion yuan ($2.194 billion).
E-commerce Growth is strong
Total transactions paid on e-commerce platform T-Mall increased 21 percent year-on-year. In particular, the daily consumer goods category showed the fastest growth. While food, beverage, health, beauty and personal care were also growing rapidly, the company said. The pace of growth in the fashion sector in T-Mall also exceeded the level before the pandemic.
Total transactions settled on Taobao, China’s largest Customer to Customer centered e-commerce platform, increased more than 10 percent year-on-year. Alibaba reorganized its Taobao mobile app in September and strengthened its product recommendation function on the main page. The upgrade will likely to increase both consumer participation and purchasing rates.
Alibaba Q2 2020: Fast-growing cross-boarding e-commerce business
Quarterly sales of the logistics division Cainiao Network rose 73 percent year-on-year to 8.226 billion yuan (about $1.212 billion). Due to its fast-growing cross-boarding e-commerce business. The Cainiao Network has improved the user experience by expanding its mobile app service with the delivery store in China. Along with its global partners, it has also established a local logistics network in 15 countries and regions around the world to strengthen its export business. In September, the daily average number of cross-boarders delivered via the Cainiao network reached about 4 million.
The quarterly sales of Alibaba Cloud in the cloud computing sector rose 60 percent on-year to 14.899 billion yuan (about $2.194 billion). It is in the back of growth in the Internet, finance and distribution industries. Alibaba Cloud said it is expanding its customer base to more diverse industries. As of Sept. 30, about 60 percent of listed companies in A-share were customers of Alibaba Cloud, with their average consumption rising 45 percent on-year in September.
Southeast Asian e-commerce platform Lazada also posted high growth rates. Despite the re-spreading of the COVID-19 in some areas, orders from Lazada this quarter rose 100 percent year-on-year.