Simply put, with the same amount of manpower input in a single quarter, we generated more than 10 billion in revenue.
E-commerce involution is far from over
From the financial reports that have been released, it can be seen country code philippines mobile that almost all e-commerce platforms have stopped growing, and the growth rate in Q2 has slowed down.
In the second quarter, the revenue of Taobao Group, the largest e-commerce platform in China, fell by 1% year-on-year, and the growth rate of Alibaba's international business also slowed down to 32%; JD Retail only increased by 1.5% year-on-year; Vipshop fell by 3.6% year-on-year; Kuaishou also slowed down, with revenue increasing by 11.6% year-on-year, a record low.
Over the past year, low prices have become the keyword for the crazy internal competition in the domestic e-commerce industry, and price wars have been raging. However, the price war seems to have shown signs of loosening recently.
According to LatePost, Douyin e-commerce has recently adjusted the priority of its business objectives, no longer putting "price power" first, but instead re-pursuing GMV growth. Alibaba's core management also recently emphasized "business awareness" at a meeting, rather than endlessly pursuing low prices.
The most important indicator for Taotian Group in 2024 is GMV (transaction volume), including the growth of Taotian's market share and the growth rate compared with competitors. In a recent earnings call, Wu Yongming, CEO of Alibaba Group and Chairman of Taotian Group, said that the priority of Taobao and Tmall is to improve the user's purchasing experience, thereby promoting the user's purchase frequency and driving the growth of GMV.