Chinese eCommerce giant Alibaba has surpassed the 3 trillion yuan milestone in online sales this week, meaning a 23 % increase compared to last year and three times as much as merely 4 years ago.
Despite seriously slower growth
Over the past year, Alibaba sold 410 billion euros worth of products. In this case, the company refers to the so-called “Gross Merchandise value” (GMV) transactions, which is the total value of all items sold on its eCommerce platforms Taobao and Tmall since the start of its fiscal year until its final day (31 March).
To put things into perspective: in Alibaba’s fiscal year of 2012, its GMV surpassed one trillion yuan for the first time, which means it has now tripled that number in merely four years.
Three trillion yuan might be a decent symbolic number, but it cannot conceal the fact that Alibaba’s growth increase over the past year was much lower than in previous years. Last year, the company managed a 49 % year-on-year growth, compared to only 23 % now.
