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Alibaba Boosts Revenue 34% To $21.8 Billion In Q2

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Benefiting from the digital surge accelerated by COVID-19, Alibaba Group saw a 34% increase in year-over-year revenue, reaching $21.762 billion (U.S.). The retail giant also solidified its position in its home country of China, adding 16 million annual active consumers in Q2 for a total of 742 million. During the quarter, Alibaba also increased its number of mobile monthly active users (MAUs) in China by 28 million, reaching a total of 874 million.

Q2 revenue from Alibaba’s China commerce retail business was $14.3 billion (U.S.) for the quarter, up 34% year-over-year, marking a strong recovery from Q1, when China was still dealing with the worst effects of the pandemic at home.

“We were well positioned to capture growth from the ongoing digital transformation, which has been accelerated by the pandemic, in both consumption and enterprise operations,” said Daniel Zhang, Chairman and CEO of Alibaba Group in a statement. “We mobilized our entire digital infrastructure to support the economic recovery of businesses across a wide range of sectors, while broadening and diversifying our consumer base by addressing their changing preferences in a post-COVID-19 environment.”

Alibaba’s Taobao Deals, which enables merchants and manufacturers to sell directly to value-conscious consumers, also posted strong results, reaching approximately 40 million MAUs in June 2020 since a new version of the platform was launched in March.

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Tmall Global Pitch Fest Helps U.S. SMBs Expand Internationally

Alibaba’s cross-border B2C marketplace Tmall Global has launched the Go Global 11.11 Pitch Fest, a virtual event designed to help U.S. brands expand their businesses internationally. Participating SMBs can both test the Chinese market and get a chance to participate in the 11.11 Global Shopping Festival, which generated $38.4 billion (U.S.) in gross merchandise value over a 24-hour period in 2019.

Participating brands can pitch their products to a panel of industry experts and get valuable advice on growing their business globally and in China.. Those brands selected to participate in the 2020 11.11 Festival will get hands-on advice from Tmall Global, with their products featured on the marketplace during the shopping holiday. Additionally, selected entrants will be fast-tracked and launched on Tmall Global through its Overseas Fulfillment program.

The Pitch Fest is seeking applications from e-Commerce-ready SMBs offering products in a wide range of verticals, including apparel and accessories, beauty and personal care, electronics, home, food and beverage, health and wellness, baby and maternity, toys and pet products. The submission deadline is Sept. 4, 2020, and the virtual event will take place on Sept. 15. Click here to apply.

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