The Chinese retail giant has managed to solidly secure the top spot title for itself in mobile shopping.
Following a massively successful Singles’ Day over m-commerce at Alibaba, it was already clear that the company had risen to the top when it came to mobile shopping, but now some more specific statistics have been revealed to show exactly how successful that company has become when it comes to catering to smartphone using consumers.
The third quarter earnings at Alibaba had already confirmed that it was well in the lead of mobile retail.
The company, itself, confirmed its position in the lead of m-commerce when it described just how much mobile shopping has had an impact on the business at its overall marketplace. Even though China has been facing some economic struggles, the retailer was still able to show exactly how powerful mobile commerce could be in not only obtaining new customers but also retaining them. It was able to build its active shopper base by over 5 percent, which equated to over 21 million within the one quarter containing Singles’ Day.
Essentially, when it comes to m-commerce, the CEO, Danial Zhang said it best, “We’re crushing mobile.”
He made this rather astute statement while speaking at a call with analysts. Zhang was far from exaggerating, when taking into consideration that the revenues the company has earned within the Chinese marketplace have increased by 35 percent when compared to the year before. This represents a rise to $4.43 billion in earnings over where it had been in 2014. That said, when looking at mobile commerce, specifically, the company saw an astounding 192 percent growth in its revenues, bringing it to about $2.89 billion.
The revenue growth of the company, as a whole, was around 32 percent during the quarter, which saw about $5.33 billion. Of the profits reached approximately $1.9 billion during that single quarter.
There was a growth in the number of active buyers on the overall retail marketplaces owned by Alibaba, which brought the total figure to 407 million within that quarter. The number of active m-commerce shoppers reached 393 million during that quarter. That meant that there were 47 million more than the quarter before.
One of the driving factors of Alibaba’s continued success in the mobile commerce space is its Alipay platform. The platform is the most well known mobile payments service in China, with millions of people using the service to pay for products both online and off. Alipay has also fostered excitement among consumers regarding new retail trends. More retailers are beginning to focus on the mobile space, which means that they are showing more support for mobile payments being made through services like Alipay.